Investors grant $10m to GaiaNet, a decentralized AI protocol.
GaiaNet, a developer of decentralized artificial intelligence (AI), is challenging the current centralized AI landscape by utilizing blockchain technology to create a new paradigm. The company has recently secured $10 million in funding to develop its blockchain platform, specifically designed for large language models and generative software.
The funds will be used to support the creation of a decentralized network of edge nodes, which will be managed by private individuals and businesses. This approach aims to democratize AI tools and provide a more inclusive alternative to established giants such as Google.
GaiaNet’s CEO, Matt Wright, expressed the company’s vision of redefining the interaction between humans and AI to establish sovereign infrastructure for handling artificial intelligence.
In addition to this, GaiaNet is also addressing the shortage of experts in higher education. By employing decentralized AI-powered teaching assistants, the company aims to enhance the learning experience for STEM students. This initiative builds upon GaiaNet’s partnership with the University of California to develop chatbots specifically designed for STEM education.
The seed funding round included participation from various investors, including Lex Sokolin from Generative Ventures, Brian Johnson from Republic Capital, Shawn Ng from 7RIDGE, Kishore Bhatia, EVM Capital, Mirana Ventures, Mantle EcoFund, and ByteTrade Lab.
Lucas Lu, the CEO of ByteTrade Lab, commented on the investment and the potential of GaiaNet’s decentralized AI network, stating that it opens up endless possibilities for collaboration between users and developers with AI agents.
GaiaNet has already begun testing its products in the first phase, which took place in the second quarter of 2024. The company plans to release its testnet and software development kit in the third quarter of the same year.
Overall, the emergence of decentralized AI is expected to pave the way for the next generation of successful technology companies in Silicon Valley.
