Swarm Network raises $13M to facilitate decentralized AI

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Decentralized synthetic intelligence protocol Swarm Network raised a complete of $13 million to construct an AI verification protocol.

According to a Wednesday announcement shared with Cointelegraph, $10 million of the raised funds was secured via the protocol’s licenses to function brokers. A mission spokesperson informed Cointelegraph that every license is a non-fungible token (NFT) that permits its holder to receive every day rewards for working brokers and sustaining the community.

The remaining funds comprise a $3 million strategic funding from traders, together with Sui (SUI), Ghaf Capital, Brinc, Y2Z and Zerostage. The investments by Sui, Ghaf and Brinc had been secured by Swarm’s participation in SuiHub’s Dubai-based world accelerator.

Swarm Network is constructing a decentralized protocol that makes an attempt to flip offchain knowledge into verifiable onchain info. The system has seen an early adopter within the AI-powered fact-checking resolution Rollup News, the place 128,000 customers have reportedly verified over 3 million posts to date.

Related: Trading bots vs AI brokers: all the pieces you want to know

Crypto-AI marriage attracts consideration

Blockchain expertise and digital belongings are more and more paired with synthetic intelligence expertise, attracting important investor curiosity. Numerai, an AI-driven hedge fund backed by Paul Tudor Jones, lately secured a dedication of up to $500 million from JPMorgan Asset Management.

Earlier this month, crypto alternate Kraken acquired Israel-based startup Capitalise.ai, a no-code buying and selling automation platform that turns natural-language instructions into executable methods. Some companies abandon crypto for AI altogether, with cryptocurrency miner TeraWulf pivoting into AI infrastructure internet hosting in mid-August.

Related: The way forward for digital self-governance: AI brokers in crypto

The rise of crypto AI brokers

AI brokers, a time period referring to AI bots which have entry to instruments and might act independently to obtain their aims, are gaining important traction within the crypto area. Earlier this month, Coinbase growth group members Kevin Leffew and Lincoln Murr went so far as to say that AI brokers might turn into Ethereum’s “biggest power user.”

The statements adopted anticipation after late 2024, when trade executives informed Cointelegraph that AI brokers would acquire important traction this 12 months. Predictions on the time included that such brokers would tackle a extra distinguished position inside decentralized communities and that decentralization would make AI extra reliable.

Magazine: Train AI brokers to make higher predictions… for token rewards

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This article is customized from cointelegraph.com. We’ve restructured and rewritten the content material for a broader viewers with improved readability and web optimization formatting.

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