Blockchain startup aelf has unveiled a new $50 million ecosystem fund aimed at prioritizing the integration of artificial intelligence into the blockchain.
Singapore-headquartered blockchain ecosystem aelf is launching a new multi-million dollar initiative to transition from a decentralised network to a “vibrant ecosystem enriched with state-of-the-art AI models.”
In a blog announcement on Apr. 12, the aelf team said that its investment arm, aelf Ventures, will be “strategically deploying” its $50 million Ecosystem Fund to support “innovative AI initiatives seeking blockchain enablement.”
“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
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Although the funding criteria haven’t been revealed, the announcement suggests that current projects and games on the aelf blockchain are preparing to incorporate AI capabilities, reflecting a growing interest in the synergy of blockchain and AI among companies.
As crypto.news previously reported, Aptos Labs, the firm behind the Aptos blockchain, and io.net entered into a partnership to improve access to scalable GPU resources, aiming to enhance AI and machine learning capabilities. As part of the deal, io.net and Aptos Labs will collaborate on creating a range of AI models and products for their eventual release on the Aptos blockchain network.
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