Decentralized AI Protocol GaiaNet Bags $10M from Investors

Decentralized AI developer GaiaNet challenges the centralized artificial intelligence status quo by leveraging blockchain tech for a new paradigm.

Funding and Vision

GaiaNet, a provider of decentralized artificial intelligence solutions, has successfully secured $10 million in funding. The funds are earmarked for the development of a blockchain optimized for large language models and generative software. This financial boost will support the creation of a decentralized network of edge nodes managed by private individuals and businesses, promoting a more inclusive and democratized AI environment as opposed to the current centralized systems dominated by tech giants like Google.

Today in San Francisco, CA: a #DeAI project has raised a $10M USD series seed funding round 👏

GaiaNet AI aims to #decentralize current agent software by using a distributed network of edge nodes controlled by individuals and businesses.

Three ways this will forever change the… pic.twitter.com/om7JXD6CvW
— GaiaNet (@Gaianet_AI) May 28, 2024

Redefining AI Engagement

Them CEO Matt Wright shared the company’s ambitious vision, stating their aim to “redefine the way humans and AI engage to enable sovereign infrastructure” for managing artificial intelligence. This initiative underscores GaiaNet’s commitment to empowering individuals and smaller entities with AI tools traditionally controlled by large corporations.

Innovative Educational Tools

Addressing a significant gap in higher education, Them is developing decentralized AI-powered teaching assistants. This innovative effort is part of an ongoing partnership with the University of California, where GaiaNet’s AI chatbots are being integrated to assist STEM students, providing a scalable and effective educational aid.

Investment and Collaboration

The seed funding round saw participation from notable investors including Generative Ventures’ Lex Sokolin, Republic Capital’s Brian Johnson, 7RIDGE’s Shawn Ng, Kishore Bhatia, EVM Capital, Mirana Ventures, Mantle EcoFund, and ByteTrade Lab. ByteTrade Labs CEO Lucas Lu expressed enthusiasm about them potential, stating that the decentralized AI network “opens up endless possibilities for both users and developers to collaborate with AI agents”.

Future Plans

Having begun its first-phase product testing in Q2 2024, them is poised to release its testnet and software development kit in Q3 2024. This forthcoming launch marks a significant milestone in GaiaNet’s journey to democratize artificial intelligence, making advanced AI capabilities accessible to a broader audience.