Singapore-based blockchain startup aelf joins AI race with $50m fund

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Blockchain startup aelf has unveiled a brand new $50 million ecosystem fund geared toward prioritizing the combination of synthetic intelligence into the blockchain.

Singapore-headquartered blockchain ecosystem aelf is launching a brand new multi-million greenback initiative to transition from a decentralised community to a “vibrant ecosystem enriched with state-of-the-art AI fashions.”

In a blog announcement on Apr. 12, the aelf crew mentioned that its funding arm, aelf Ventures, will likely be “strategically deploying” its $50 million Ecosystem Fund to assist “revolutionary AI initiatives in search of blockchain enablement.”

“With the roll-out of developer-friendly toolkits, aelf will additional catalyze this AI blockchain innovation by empowering the group to make the most of these new applied sciences for information pre-processing, mannequin coaching, fine-tuning and deployment, agent growth, on-chain deployment and monetization with the aelf blockchain surroundings.”

The aelf crew

Though the funding standards haven’t been revealed, the announcement means that present initiatives and video games on the aelf blockchain are making ready to include AI capabilities, reflecting a rising curiosity within the synergy of blockchain and AI amongst corporations.

As crypto.information beforehand reported, Aptos Labs, the agency behind the Aptos blockchain, and io.web entered right into a partnership to enhance entry to scalable GPU assets, aiming to boost AI and machine studying capabilities. As a part of the deal, io.web and Aptos Labs will collaborate on creating a variety of AI fashions and merchandise for his or her eventual launch on the Aptos blockchain community.

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