GaiaNet has secured $10 million in funding for its decentralized AI protocol.

adminMay 28, 2024

GaiaNet, a decentralized AI developer, is challenging the centralized artificial intelligence environment by creating a new paradigm using blockchain technology. The company recently raised $10 million in funding to develop blockchain optimized for large-scale language models and generation software.

Key initiatives and investor engagement

These funds will help GaiaNet build a decentralized network of edge nodes managed by individuals and businesses. This approach aims to democratize artificial intelligence tools, providing a more comprehensive alternative to dominant players like Google. Matt Wright, CEO of GaiaNet, said the company’s goal is to “redefine how humans and AI engage to enable sovereign infrastructure” for artificial intelligence management.

One of GaiaNet’s initiatives includes addressing the shortage of higher education professionals using decentralized AI-based 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 high-profile investors including Lex Sokolin of Generative Ventures, Brian Johnson of Republic Capital, Shawn Ng of 7RIDGE, Kishore Bhatia, EVM Capital, Mirana Ventures, Mantle EcoFund, and ByteTrade Lab. Commenting on the investment, Lucas Lu, CEO of ByteTrade Labs, emphasized that GaiaNet’s decentralized AI network “opens endless possibilities for both users and developers to collaborate with AI agents.”

GaiaNet began phase 1 product testing in the second quarter of 2024 and plans to launch the testnet and software development kit in the third quarter of 2024.

Decentralized AI developer GaiaNet challenges the centralized artificial intelligence phenomenon by leveraging blockchain technology for a new paradigm https://t.co/3X8vlHebj7
— crypto.news (@itscrypto_news) May 28, 2024

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