With the news of a large $50 million fund, Singapore-based blockchain startup aelf has entered the competitive field of artificial intelligence (AI). The fund, which was announced by aelf, will help AI technologies and blockchain systems work together. This is a significant shift for the company’s strategy.
The company aelf, which is based in Singapore, is starting an enormous funding plan to turn its decentralized network into a living environment with advanced AI models. This move shows that the company thinks AI will play a significant role in shaping the future of the technology.
Blockchain-Driven AI Transformation Journey
In a statement made on April 12, aelf said it wanted to start a journey of transformation driven by AI and refocused its efforts on adding AI technology to its infrastructure. aelf Ventures, the company’s investment arm, will play a key role in carefully allocating the $50 million Ecosystem Fund to support AI projects that are new and want to use the technology.
“With the roll-out of developer-friendly toolkits, aelf will further catalyze this AI blockchain innovation by empowering the community to utilize those new technologies for data pre-processing, model training, fine-tuning and deployment, agent development, on-chain deployment and monetization with the aelf blockchain environment.”The aelf team
Specifics about how the fund will be allocated have not been made public yet, but the news makes it sound like ongoing projects and apps in the aelf ecosystem are getting ready to use AI. Companies are becoming more and more interested in finding ways that blockchain and AI technologies can work together. This new development shows that desire.
In a related development, Aptos Labs, the company behind the Aptos blockchain, recently formed a relationship with io.net. The goal is to improve AI and machine learning by making it easier to access scalable GPU resources. io.net and Aptos Labs will work together to make a number of AI models and products that can be used on the Aptos network.
