In a remarkable stride toward the future of blockchain and artificial intelligence (AI), 0G Labs, a pioneering Web3 modular infrastructure firm, announced a staggering $35 million pre-seed funding on March 25, 2024. This funding round, one of the most substantial for a startup at the intersection of Web3 and AI, marks a significant leap forward, aiming to revolutionize how AI models are trained, deployed, and run on the blockchain.
The investment attracted over 40 crypto-native institutions, demonstrating robust confidence in 0G Labs’ vision. Among the notable investors are Hack VC and Blockchain Builders Fund, highlighting the widespread industry support for the startup’s ambitious project. The infusion of capital will be directed toward building the first modular AI blockchain, a solution touted to outpace current blockchain technologies in both speed and efficiency significantly.
0G Labs’ innovative approach centers on creating a “full-stack” blockchain solution that promises unparalleled speed advantages over traditional platforms like Ethereum’s innovative contract network. This initiative is poised to address some of the most pressing challenges facing on-chain AI applications today, including cost, speed, and scalability.
The excitement around 0G Labs’ funding and plans is palpable. Ed Roman, Managing Partner at Hack V, praised the startup’s pioneering role in developing on-chain generative AI infrastructure. Roman highlighted the startup’s data availability technology, noting its potential to achieve speeds and cost efficiencies vastly superior to existing solutions.
This substantial pre-seed funding round not only underscores the growing interest in the fusion of blockchain and AI technologies but also positions 0G Labs at the forefront of this emerging field. The startup’s proposed “Uni-Chain” architecture aims to revolutionize the Web3 space by enabling seamless connectivity and transactions across various blockchain networks, fostering a more integrated and accessible digital ecosystem.
In parallel developments, Turkey’s financial landscape is set to embrace the digital age. Mission Bank, one of the country’s pioneering neobanks, announced a strategic partnership with Swiss cryptocurrency custody provider Taurus. This collaboration will introduce cryptocurrency custody and tokenization services, signaling a significant move toward digital asset integration in the Turkish banking sector.
As the world watches these developments unfold, the anticipation for the impact of these technologies on the global financial and technological landscapes continues to grow. The successful funding of 0G Labs and the strategic moves by institutions like Misyon Bank highlight a collective stride towards a more interconnected, efficient, and innovative digital future.
Source: Techcrunch
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