OpenLedger Invests $25M in AI-Blockchain Innovation
California-based OpenLedger launches OpenCircle to fuel AI and Web3 development on its blockchain, promising a new model of value creation.
OpenLedger Bets Big on AI and Blockchain Convergence
OpenLedger is making a significant move, committing $25 million to support developers building at the intersection of AI and blockchain. This investment aims to foster innovation in the burgeoning Web3 space.
OpenCircle: A Launchpad for Innovation
The capital will be deployed through OpenCircle, a newly established launchpad. This initiative is designed to provide resources and support to developers creating AI-powered protocols on the OpenLedger blockchain.
A New Model for Value Creation
OpenLedger is proposing a shift from the traditional AI model, which they characterize as extractive. The new system, facilitated by OpenCircle, will reward contributors of code, data, and compute resources with ownership and a share of the value they generate.
Strategic Partnerships and Growing Ecosystem
This funding round follows OpenLedger's successful $8 million seed raise earlier in 2024. They are positioning themselves as a key player in the sovereign data blockchain space for AI. OpenLedger has also partnered with restaking protocol Ether.fi, which boasts a substantial $6.5 billion in TVL, to strengthen AI model development and security.
Key Takeaways:
- OpenLedger commits $25M to AI/Web3 development.
- OpenCircle launchpad will support developers.
- Focus on a more equitable AI value-creation model.
- Strategic partnership with Ether.fi for enhanced AI security and development.
Investment Considerations
As always, investors should consider their risk tolerance and investment timeline before making allocation decisions. Bitcoin remains a volatile asset despite increasing institutional adoption.
This article is for informational purposes only and should not be considered investment advice. Always consult with a qualified financial advisor.
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