GaiaNet Secures $10 Million in Funding for Decentralized AI Protocol

GaiaNet,
a
decentralized
AI
developer,
is
challenging
the
centralized
artificial
intelligence
landscape
by
using

blockchain
technology
to
create
a
new
paradigm.
The
company
has
recently
raised
$10
million
in
funding
to
develop
its
blockchain
optimized
for
large
language
models
and
generative
software.

Key
Initiatives
and
Investor
Participation

The
funding
will
aid

GaiaNet
in
building
a
decentralized
network
of
edge
nodes
managed
by
private
individuals
and
businesses.
This
approach
aims
to

democratize
artificial
intelligence
tools,
providing
a
more
inclusive
alternative
to
dominant
players
like
Google.
GaiaNet’s
CEO,
Matt
Wright,
stated
that
the
company’s
goal
is
to
“redefine
the
way
humans
and
AI
engage
to
enable
sovereign
infrastructure”
for
managing
artificial
intelligence.

One
of
GaiaNet’s
initiatives
includes
addressing
the
shortage
of
higher
education
experts
through
the
use
of
decentralized
AI-powered
teaching
assistants.
This
effort
builds
on
an
existing
partnership
with
the
University
of
California
to
develop
chatbots
for
STEM
students.

The
seed
funding
round
saw
participation
from
notable
investors,
including
Lex
Sokolin
from
Generative
Ventures,
Brian
Johnson
of
Republic
Capital,
Shawn
Ng
from
7RIDGE,
Kishore
Bhatia,
EVM
Capital,
Mirana
Ventures,
Mantle
EcoFund,
and
ByteTrade
Lab.
Lucas
Lu,
CEO
of
ByteTrade
Labs,
commented
on
the
investment,
highlighting
that
GaiaNet’s

decentralized
AI
network
“opens
up
endless
possibilities
for
both
users
and
developers
to
collaborate
with
AI
agents.”

GaiaNet
commenced
its
first-phase
product
testing
in
Q2
2024
and
plans
to
launch
its
testnet
and
software
development
kit
in
Q3
2024.

Decentralized
AI
developer
GaiaNet
challenges
the
centralized
artificial
intelligence
status
quo
by
leveraging
blockchain
tech
for
a
new
paradigmhttps://t.co/3X8vlHebj7

—
crypto.news
(@itscrypto_news)

May
28,
2024

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