March 27, 2024
AI

0G Labs Raises $35M for Web3 AI Integration

Web3 modular infrastructure firm 0G Labs announced the successful completion of a $35 million pre-seed funding round on March 25. The round garnered significant interest from over 40 crypto-native institutions, including Hack VC and Blockchain Builders Fund, highlighting the industry’s enthusiasm for the company’s vision.

Revolutionizing Web3 and AI Integration

The funding injection will fuel 0G Labs’ ambitious mission to develop a comprehensive blockchain-based solution for training, deploying, and operating artificial intelligence models. The company aims to overcome existing limitations in speed and efficiency within blockchain networks, positioning itself as a pioneer in on-chain generative AI infrastructure.

Industry Recognition

Ed Roman, Managing Partner at Hack V, commended 0G Labs for its groundbreaking work in on-chain generative AI infrastructure, highlighting its remarkable speed advantages over current solutions such as Ethereum’s smart contract network. Roman expressed pride in partnering with 0G Labs and expressed anticipation for the flourishing of their ecosystem as they progress towards main-net deployment.

Comparative Milestones

The $35 million pre-seed funding represents one of the most substantial initial funding rounds for a company operating at the convergence of Web3 and artificial intelligence. For context, renowned AI firm OpenAI raised $120,000 in its pre-seed round back in 2016. Since then, OpenAI’s valuation has soared to approximately $80 billion, underscoring the potential growth trajectory for companies in this space.

Innovative Products in Development

Among the innovative products in development is “Uni-Chain,” as described on 0G Labs’ website. This architecture for Web3 aims to seamlessly integrate disparate networks into a unified metaverse, enabling users to transact across various chains effortlessly. The company’s modular technology promises frictionless interoperability while ensuring security and maximizing connectivity in a borderless and open meta-universe.

0G Labs’ successful funding round underscores growing investor confidence in the intersection of Web3 and AI. With substantial resources at its disposal, the company is poised to drive innovation and reshape the future of decentralized technology.

Image by Gerd Altmann from Pixabay

Related posts

UK’s NCSC Report: AI Progress Could Counterbalance Rising Cyber Threats

Bran Lopez

Hyped-Up AI Tokens Lack Substance, According to Coinbase Research

Cheryl  Lee

AI Deepfakes Mislead Voters and Politicians

Robert Paul

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Index