Singapore’s aelf, a blockchain startup, steps into the AI competition with $50 million fund.
Singapore-based blockchain startup aelf has recently introduced a new fund worth $50 million. The purpose of this fund is to prioritize the integration of artificial intelligence (AI) into the blockchain ecosystem. aelf Ventures, the investment division of aelf, will strategically allocate this fund to support innovative AI initiatives that are seeking to leverage the capabilities of blockchain technology.
Although the specific funding criteria have not been disclosed, the announcement suggests that existing projects and games on the aelf blockchain are preparing to incorporate AI functionalities. This indicates a growing interest in the potential synergy between blockchain and AI among various companies.
This news follows a recent partnership between Aptos Labs and io.net, aimed at improving access to scalable GPU resources to enhance AI and machine learning capabilities. As part of this collaboration, Aptos Labs and io.net will work together to develop a range of AI models and products, which will eventually be released on the Aptos blockchain network.
The convergence of AI and blockchain technology is a topic of increasing importance, with many companies exploring the various use cases and benefits that can arise from their integration. The new fund introduced by aelf demonstrates their commitment to supporting and fostering this intersection, as they aim to create a vibrant ecosystem enriched with state-of-the-art AI models.
–end–
