Artificial intelligence decentralized GPU network io.net recently posted that it had secured $30 million from investors, including Hack VC, Multicoin, 6th Man Ventures and OKX Ventures.
IO Research, the team behind io.net, aims to enable users to redistribute unused Graphics Processing Units (GPUs) to power resource-intensive AI companies, increasing computing power and reducing costs for organizations working with AI.
The latest funding round in io.net is a testament to the increasing interest in AI-driven innovations, particularly within the realms of cryptocurrency and blockchain technology.
Other notable AI-related blockchain companies include Ritual, a web3-based interaction-proofing platform using AI models, and Sahara, a decentralized AI network with a recent $6 million seed round.
Ritual attracted investments from notable venture capital firms like Sequoia and Matrix Partners. This further demonstrates the growing recognition of AI-driven innovation in the blockchain space.
Ritual is not the only AI-powered blockchain platform that has garnered significant attention; other AI-related blockchain companies such as IO Research are driving innovations.
With funding now firmly in place, io.net and IO Research plan to realize their vision of an efficient decentralized infrastructure for AI computing by redeploying underutilized GPU power in the hands of AI-heavy businesses, ensuring better processing, costs, and overall reliability for high-performance computing tasks, enhancing speed, scalability and quality
Fundraising endeavors of top-tier companies prove a compelling testament to the remarkable resurgence within the crypto market over recent quarters.
The notable interest surrounding AI-driven projects can help bridge the gap to accelerate more sophisticated applications in key fields as the blockchain evolves beyond.
To close the story, AI-powered solutions seem primed to reshape crypto-economies as various industry applications become increasingly popular within new sectors, offering prospects to bolster blockchain adoption overall while bringing new efficiencies on resource deployment.
- Q: What are IO Research and io.net’s plans for the future? A: With increased funding and market recognition, IO Research plans to move forward with their strategy for implementing a decentralized infrastructure and reducing unused GPU power in businesses requiring large-scale AI computing and computational operations.
- Q: Is ritual solely web3-based? A: No, Ritual offers interactive data flow between Web 3-based companies using in-memory encryption for seamless Proof-of-Interactions, empowering user-defined, secure data protocols using FHE.
