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Ringfence, the primary generative AI platform to make sure creators are paid for the usage of their unique work inside AI-generated content material (AIGC), has introduced the profitable closing of its $1.5 million seed spherical.
The spherical was led by Rarestone Capital and Morningstar Ventures with participation from Spark Digital Capital, Curiosity Capital, Noir Ventures and different main funds and angel buyers.
Ringfence is the primary platform devoted to making sure web3 and Generative AI work within the favor of creators. At present, courts are struggling with learn how to apply mental property legal guidelines to generative AI.
The platform offers the infrastructure for creators to retailer and shield varied media together with images, pictures, movies, paperwork, and music. Creators who need to monetize their content material can confirm possession and authorize AI to make use of their recordsdata to create new AIGC.
Moreover, Ringfence permits creators to mint their AIGC on any EVM-compatible chain utilizing LayerZero’s OFT normal, permitting fungible tokens to be transferred throughout a number of blockchains with out asset wrapping, middlechains, or liquidity swimming pools.
Ringfence Founder Whitney Gibbs stated:
“As web3 and AI integration advances, it’s estimated to evolve right into a trillion-dollar market alternative that is still comparatively nascent by way of attribution and digital provenance. We imagine creators ought to determine how and when AI makes use of their work, and they need to all the time be pretty compensated when it does. Our workforce is compelled to unravel this with a tangible, scalable, and handy resolution that may finally be symbiotic within the progress of AIGC.”
Rarestone Capital founder Charles Learn stated:
“We’re excited to deal with one of many hardest challenges available in the market and assist the way forward for web3 creators and AI. Ringfence can be crucial to make sure inventive and financial energy all the time stays with creators, with the flexibleness to determine how, when, and the place to make use of their content material.”
Ringfence empowers creators with entry to options corresponding to free limitless cloud storage, content material possession verification to ascertain digital provenance, and perpetual compensation anytime AI makes use of their content material for mannequin coaching.
Moreover, creators can entry Ringfence’s highly effective AI engines to create a wide range of content material mediums and use Ringfence to tokenize their artwork with out ever leaving the platform.
Ringfence plans to launch its beta in Q1 2024.
Creators can register for the waitlist at ringfence.ai.
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