Original Authors: Zen, PANews
In the first half of 2024, driven by the boom in artificial intelligence, the US stock market surged, with the S&P 500 index hitting a record high 31 times. "AI first stock" Nvidia has frequently appeared in the news, with its stock price soaring by 149%, entering the 3 trillion dollar club.
At the right time, almost all technology startups today talk about AI, even if they are not focused on the AI field, they will emphasize the AI technologies they use. Well-known investment institutions such as a16z have also stopped setting up AI-related funds separately, because artificial intelligence now plays an important role in almost all startups. Another "hot spot" that the technology industry cannot avoid in recent years, the intersection of Web3 and AI is undoubtedly a direction worth exploring. The concept of "AI enhances productivity, Web3 changes production relations" brings endless imagination to people.
Referring to the "Financing Weekly" column, PANews has conducted statistics on the "Web3+AI projects" that received financing in the first half of this year. These projects apply artificial intelligence technology to varying degrees, involving infrastructure for computing power and algorithms, data and privacy, DeFi, entertainment products such as games, as well as applications providing content creation tools, AI agents/bots, and more. The following will take stock of a total of 64 "Web3+AI projects" that completed financing in the first half of 2024 according to this classification method.
20 infrastructure projects, with the highest single financing amount reaching 85 million US dollars
Sentient
An AI research organization dedicated to building open-source AI models through community contributions, allowing users to access and contribute to models, and providing rewards based on contributions. One of Sentient's core contributors is Sandeep Nailwal, co-founder of Polygon. It will be built on Polygon and may also create its own chain through the Polygon chain development kit (CDK), with plans to launch a testnet in the third quarter of this year. Sentient raised 85 million US dollars in a seed round of financing led by Founders Fund, Pantera Capital, and Framework Ventures.
io.net
The DePIN protocol in the Solana ecosystem, aimed at aggregating GPU resources for artificial intelligence (AI) and machine learning (ML) companies, with the goal of establishing a decentralized GPU network and addressing the shortage of AI computing. io.net completed a Series A financing of 30 million US dollars, with Hack VC leading the investment and participation from Multicoin Capital, Web3.com Ventures, and others.
Allora Labs
A decentralized artificial intelligence network built on the Cosmos stack. It was renamed from Upshot to Allora in February of this year and shifted from an NFT assessment platform to a decentralized artificial intelligence network. Allora's total financing reached 35 million US dollars.
Ritual
A decentralized AI network project. Ritual received additional investment of several million US dollars from the venture capital firm Polychain Capital this year, with the specific amount yet to be disclosed. It had previously completed a 25 million US dollar financing in November 2023, led by Archetype, with participation from Accomplice and Robot Ventures.
Ora
An AI-driven blockchain project aimed at integrating AI into decentralized applications through its "on-chain AI oracle." Ora completed a 20 million US dollar financing, with participation from Polychain, SevenX Ventures, HF0, and Hashkey Capital.
Airstack
A developer platform for Web3 supported by artificial intelligence, allowing developers to access and utilize on-chain data through AI-supported natural language requests. Airstack has raised a total of 11 million US dollars, with investment from Superscrypt and Red Beard Ventures, among others.
GaiaNet
A decentralized network of AI tools for generating artificial intelligence. By allowing individuals worldwide to host and manage AI models on edge computing nodes, GaiaNet aims to address issues such as privacy protection, technological accessibility, and democratization of AI technology. GaiaNet completed a seed round financing of 10 million US dollars, with participation from EVM Capital, Mirana Ventures, Mantle EcoFund, and others.
ChainML
An AI research and development company supporting Web3, aimed at decentralized AI access. It has launched a framework called Theoriq for autonomous AI agents to complete complex tasks. ChainML raised 6.2 million US dollars in an extended seed round of financing, with Hack VC leading the investment and participation from Foresight Ventures, among others.
REVOX.ai
A modular on-chain AI network. REVOX.ai aims to integrate AI technology with decentralized architecture to provide more secure and efficient AI solutions. REVOX.ai has raised 6 million US dollars, with investors including SevenX Ventures, Arweave SCP Ventures, Cointelegraph Acceleration, and 7upDAO, among others.
Prime Intellect
A decentralized AI development platform aimed at democratizing AI technology. Prime Intellect has raised 5.5 million US dollars, jointly led by Distributed Global and Coinfund. The funds and resources will be used to drive global computing aggregation, develop distributed training frameworks, and facilitate collaborative training of open AI models.
NodeOps
A blockchain node management platform. NodeOps provides AI infrastructure for node operators and developers, aiming to simplify the development and operation of Web3 protocols. NodeOps completed a seed round financing of 5 million US dollars, led by L1D.
Tensorplex Labs
Infrastructure for a decentralized AI network, aimed at accelerating the development of open and decentralized artificial intelligence networks such as Bittensor. Tensorplex Labs completed a seed round financing of 3 million US dollars, with leading investment from Canonical Crypto and Collab+Currency, and participation from Amber Group, among others.
Hemera
A Web3 infrastructure startup, with the Hemera protocol being a Web3 large language model (LLM) operating system designed for developers. SocialScan is a community-owned AI based on this protocol. Hemera completed a seed round financing of 2.6 million US dollars, led by LIF Capital and Nomad Capital.
PrivateAI
A decentralized AI protocol. PrivateAI has launched an AI-native distributed data platform aimed at building the world's first domain-specific large language model (LLM) for the longevity industry. PrivateAI has completed a strategic round of financing, with participation from DAO Maker, with the specific financing amount yet to be disclosed.
Optopia.ai
An AI Layer2 network. Optopia.ai launched its mainnet in May, aiming to simplify Web3 operations through AI agents, lower the barrier of entry for users, and empower AI agents through a token economic model. Optopia.ai completed a seed round financing, with participation from G·Ventures and Kucoin Ventures, among others.
KIP Protocol
A Web3 underlying protocol focused on AI, aiming to develop a secure and efficient decentralized Web3 underlying protocol that allows AI creators (data owners, model creators, AI application developers) to deploy their work on Web3 while retaining complete digital ownership. KIP Protocol's strategic round of financing was led by Animoca Ventures, with the amount undisclosed.
AINN Layer2
A Bitcoin Layer2 network project supporting the large-scale application of decentralized AI, with investment from institutions such as Amber Group.
NavyAI
Solana-based AI model training platform, dedicated to AI model training and self-learning, providing economically efficient solutions to reduce AI bias. NavyAI has completed a seed round of financing, with participation from X Ventures, and the amount has not been disclosed.
Meson Network
Decentralized physical network. Meson Network focuses on DePIN+AI, with its "DePIN" nodes developed using user-friendly technology to accommodate various hardware such as personal laptops, servers, and IoT devices. Meson Network has raised a new strategic financing round led by Presto Labs, with a valuation of 1 billion US dollars, and the specific financing amount has not been disclosed.
Compute Labs
An RWA tokenization protocol based on computing assets. Compute Labs, incubated by the NVIDIA Inception VC Alliance, provides AI computing power returns to investors through the development of the enterprise-level AI computing power tokenization protocol CTP and GPU Restaking solutions. CTP is currently live on the Solana testnet, with the mainnet expected to launch in the third quarter and the TGE to be completed by the end of the year.
10 data-focused projects, with a focus on privacy and security
OpenLedger
Decentralized and permissionless data infrastructure, enabling builders to create more intelligent and efficient models using verifiable data. OpenLedger raised 8 million US dollars in a seed round of financing led by Polychain Capital and Borderless Capital. It is expected to launch the mainnet by the end of the year.
FLock
A native Web3 data privacy solution for AI, with its "Federated Learning Blocks" (FLocks) research program using blockchain as a coordination platform between data holders for machine learning while keeping data local and private. FLock raised 6 million US dollars in a seed round of financing, led by Lightspeed Faction and Tagus Capital, with participation from OKX Ventures, among others.
Hyperline
A Web3-native data lake development company, primarily building shared storage and computing engines for Web3 developers to support data applications and service functions for building AI products and analytics applications. Hyperline completed a seed round financing of 5.2 million US dollars, led by Slow Ventures.
Cookie3
MarketingFi and AI data layer for Web3 enterprises, creators, and users. Cookie3 announced a 5.5 million US dollar token financing, with investors including The Spartan Group and Animoca Brands.
Privasea
An AI-driven data security solution that integrates FHEML into a distributed computing power crowdfunding network and combines it with self-developed Depin mining machines to form an FHE computing power network supporting all L1 and L2. Privasea's strategic private placement financing was supported by OKX Ventures, Nomura Group's Laser Digital, and the SoftBank-backed incubator Tanelabs, and it completed a 5 million US dollar seed round financing.
0xScope
A Web3 knowledge graph protocol that has released 0xScope V2, with a focus on providing data support for Web3 AI applications through a proprietary Web3 data layer and connecting AI with Web3 in the process. 0xScope completed a 5 million US dollar Pre-Series A round of financing, led by HashKey Capital, with participation from OKX Ventures, GSR Markets, and others.
Ta-da
An AI data marketplace with a core model of "gamified Web3" applications. Ta-da completed a 3.5 million US dollar financing, with investors including Morningstar Ventures, MultiversX, and GBV Capital, among others.
Inference Labs
A Web3 AI startup dedicated to making AI more accessible and focusing on decentralized and privacy-centric technology. Inference Labs completed a 2.3 million US dollar Pre-Seed round of financing, with leading investment from Digital Asset Capital Management, Delphi Ventures, and Mechanism Capital.
PublicAI
A Web3 decentralized AI training network aimed at generating a large amount of high-quality training data using blockchain technology and allowing anyone to be rewarded by providing data contributions. PublicAI completed a 2 million US dollar seed round of financing, with participation from the Solana Foundation and Everstate Capital, among others.
AIT Protocol
AI data infrastructure primarily used for data annotation and AI model training on the blockchain, allowing encrypted users to contribute to AI model development and training while participating in tasks and receiving rewards. AIT Protocol's new round of financing includes participation from Animoca Brands.
6 DeFi projects, primarily intent-driven
Aperture Finance
An AI-driven DeFi platform that simplifies DeFi operations through innovative intent-driven methods, allowing users to specify desired outcomes. Aperture Finance has raised a total of 12 million US dollars, with support from Skyland Ventures, Blockchain Founders Fund, and Krypital Group, among others.
onaji
A machine learning platform for smart contract blockchains, with a platform established for training and deploying AI models that can autonomously participate in DeFi on Ethereum and Layer 2. onaji completed a 2.5 million US dollar Pre-Seed round of financing, led by Stratos, with participation from Maven11, Uniswap Labs, IOSG Ventures, and others.
XRADERS
A trading management and social platform driven by AI on the BNB Chain. XRADERS completed a 2.1 million US dollar Pre-Seed and seed round of financing, with participation from FBG Capital, among others.
0xGen
An AI-driven DeFi platform. 0xGen has completed strategic financing, with participation from Principle68, Bella Protocol, Phoenix Chain, and others.
AgentFi
An AI-driven DeFi protocol in the Blast ecosystem. The first product from AgentFi uses the ERC-6551 standard to provide on-chain trading services and automated services that generate returns through NFT-bound wallet accounts. AgentFi has completed its first round of financing, with Generative Ventures leading the investment.
Sharpe
An AI-driven crypto application designed for professional traders, providing a unified platform for intelligent, investment, and automated digital asset services. Sharpe completed a seed round of financing, with participation from Animoca Brands, GBV Capital, and others, with the specific amount undisclosed.
15 gaming and entertainment projects, with a trend towards integrating AI with blockchain games
MetaCene
A Web3 MMO gaming platform with PVE and PVP gameplay, supporting guild DAO governance, a sustainable economic system, and in-game AIGC editing. MetaCene completed a 10 million US dollar private placement Series A round of financing, led by Folius Ventures and SevenX Ventures.
Raiinmaker
Raiinmaker is building decentralized AI tools and Web3 infrastructure to support sports, gaming, and entertainment projects. Users can train AI through iOS or Android phones and receive rewards proportional to their influence on the AI model. Raiinmaker has raised a total of $10 million, with a $7.5 million seed round led by Jump Capital and Cypher Capital.
DeepLink
A decentralized AI cloud gaming protocol that provides ultra-low latency game rendering solutions for 3A games and cloud cybercafes, supporting 1ms ultra-low latency and 8K high-resolution gaming experiences through AI, blockchain, and streaming technology. DeepLink has completed a total of $8 million in angel and Series A financing, with a valuation of $100 million, with investment from Gobi Partners, Hycons, DBC, ROCK Ventures, and others.
ArenaX Labs
An AI-driven Web3 competitive game developer for AI Arena. AI Arena allows users to train their own AI characters for battles, with the outcome of each battle depending on the player's skills in training, aiming to help users understand the operation and learning process of artificial intelligence. ArenaX Labs has completed a $6 million new round of financing, led by Framework Ventures, with participation from SevenX Ventures.
Today
A Web3 social simulation game developing intelligent NPCs based on generative AI and no-code creator tools. Today completed a $5 million seed round of financing, led by Sfermion and Big Brain Holdings.
Studio 369
Developer of the blockchain video game "MetalCore," which is developing a dynamic task system using AI to generate unique missions and objectives, expected to open game testing by the end of 2024. Studio 369 completed a $5 million new round of financing this year, with investors including Delphi Digital, Bitkraft Ventures, and Sanctor Capital.
Play AI
Provider of AI and blockchain solutions for gaming and virtual reality, including Play Markets for data collection, Play Dojo for AI improvement, and Play Hub for seamless AI agent integration. Play AI has completed a $4.3 million first round of financing, with participation from P2 Ventures, Jump Crypto, and others.
Sortium
A Web3 game studio focused on generative AI, integrating AI tools into existing game production ecosystems to automatically execute challenging content creation tasks. Sortium has raised over $4 million, with Signum Growth leading the investment and ARK Investment Management LLC, among others, participating.
GOALAI
A Web3 soccer fantasy game aiming to integrate blockchain NFTs with the real-world soccer community, clubs, fans, and matches using AI, bringing potential and commercial value to Web3 soccer enthusiasts. GOALAI has raised $3 million, with IDG Capital leading the investment and participation from KuCoin Ventures.
Stage
A Web3 music platform aiming to provide fair compensation and deep engagement for artists and fans through Web3 integration, introducing play-to-earn models, RWA, and AI music. Stage has completed a $2.4 million financing, with participation from the Solana Foundation.
Cellula
An all-chain AI game providing continuous incentives for the ecosystem's games through a virtual proof-of-work (vPOW) asset allocation method. Cellula completed a $2 million Pre-Seed round of financing, jointly led by SevenX Ventures and OKX Ventures, and previously received strategic investment from Binance Labs in the Pre-Seed round.
EventCHI
A Dutch blockchain ticketing platform integrating AI and blockchain seamlessly to provide a unified platform for cashless payments, NFT ticketing, and intelligence. EventCHI has completed over €1.6 million in seed round financing.
Saltwater Games
A UK-based game studio and publisher composed of three game studios, including Saltwater Labs, focusing on developing Web3 and AI emerging technologies. It has received investment from Animoca Brands.
CARV
A modular data layer focusing on the gaming and AI industries. As the sole author of ERC7231, CARV has built the CARV Protocol, integrated with over 40 chains, Google Cloud, and other identity, storage, infrastructure, and AI ecosystems. It has received support from Vertex Ventures, ConsenSys, Tribe Capital, IOSG Ventures, HashKey Capital, Animoca Brands, and others.
Sleepless AI
A Web3+AI gaming platform that has completed a new round of financing led by Folius Ventures, with the specific amount undisclosed. According to its introduction, Sleepless AI is the winner of the Binance MVB V accelerator and has previously received investments from Binance Labs and Foresight Ventures.
13 application product projects, with a focus on creator economy
MediConCen
A Hong Kong blockchain insurance technology company that digitizes paper-based and manual claims processes using the latest AI and blockchain technology. MediConCen has completed a $6.85 million (approximately HK$53.43 million) Series A financing, led by HSBC Asset Management, with participation from Gao Mei Capital, bringing its total financing to $12.7 million.
MyShell
A Web3 AI platform focusing on creators, targeting content creators and consumers, allowing the generation of AI agents or robots. MyShell raised $11 million in a round led by Dragonfly.
Bluwhale
An AI Web3 startup that empowers wallet holders with control and revenue rights, allowing them to decide whether they want to interact with marketers and monetize their information. Bluwhale completed a $7 million seed round of financing, led by SBI.
Adot
A decentralized AI search engine. Adot (a.xyz) has raised a total of $6 million, with investment from Hash Global, SevenX Ventures, Mask Network, and others.
Sahara
A decentralized AI network that provides customized autonomous knowledge agents (Sahara KA) for individuals and businesses, allowing everyone to explore monetization and automation opportunities through AI using a trustless, permissionless, and privacy-centric approach. Sahara has completed a $6 million seed round of financing, led by Polychain Capital, with participation from Samsung Next.
YogaPetz
A decentralized mind-body ecosystem combining AI, which raised over $5 million from seed round financing and NFT sales, with a seed round led by Animoca Brands, Newman Group, and Soul Capital Partners.
SOAI
AI social platform, aiming to reshape the virtual companion industry ecosystem through advanced AI technology to create customized AI soul companions for billions of people worldwide. SOAI has completed a $5 million institutional angel round of financing, with Archer Capital investing $3 million and XForce Capital investing $2 million.
Bythen
Human-computer interaction AI protocol, which is building an AI product protocol to create autonomous AI-driven 3D avatar agents. Bythen has completed a $3 million seed round of financing, with participation from East Ventures, BEENEXT, and others.
Talus Network
A blockchain platform focusing on decentralized artificial intelligence, aiming to utilize the powerful capabilities of Move, emphasizing security, speed, and enhanced developer experience to cultivate a diverse ecosystem of intelligent agents for decentralized applications. Talus Network has completed a $3 million financing, led by Polychain Capital, with participation from dao5 and others.
SmartLoC
A B2B payment solution based on blockchain and AI, focusing on optimizing the way enterprises conduct financial transactions globally using technologies such as the Internet of Things, blockchain, and artificial intelligence. SmartLoC has completed a €1.8 million financing, led by High-Tech Gründerfonds (HTGF).
imgnAI
An encrypted AI platform, the image generation robot platform launched at the end of 2022, with the imgnAI encrypted token on its website used to unlock advanced features and directly mint images as NFTs. The encrypted AI platform imgnAI has completed a $1.6 million seed round of financing, led by Hack VC.
LinkTo
A Web3 traffic aggregation marketing platform that aims to provide brands and advertisers with a platform to accurately target and effectively reach their target audience while ensuring data security and user privacy through advanced traffic injection technology and AI algorithms. LinkTo has completed a seed round of financing, with participation from Adaverse and others.
Creator.bid
A blockchain and AI-driven digital content monetization and ownership platform that supports content creators in building AI-driven digital assets for monetization, writing management, and providing tools to enhance creators' autonomy in managing their work and income. The financing amount for Creator.bid was not disclosed, with investors including Mechanism Capital.
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