Decentralized AI developer GaiaNet is challenging the dominance of centralized artificial intelligence by using blockchain technology to create a new paradigm.
GaiaNet has raised $10 million in funding to develop its blockchain optimized for large language models and generative software. This funding will help build a decentralized network of edge nodes managed by private individuals and businesses, aiming to democratize AI tools and offer a more inclusive alternative to tech giants like Google.
GaiaNet CEO Matt Wright stated that the company aims to “redefine the way humans and AI interact to enable sovereign infrastructure” for managing artificial intelligence.
The company is also tackling the shortage of higher education experts by developing decentralized AI-powered teaching assistants. This initiative builds on a partnership with the University of California to create chatbots for STEM students.
Participants in the seed funding round included Generative Ventures’ Lex Sokolin, Republic Capital’s Brian Johnson, 7RIDGE’s Shawn Ng, Kishore Bhatia, EVM Capital, Mirana Ventures, Mantle EcoFund, and ByteTrade Lab.
ByteTrade Labs CEO Lucas Lu commented on the investment and initiative, noting that GaiaNet’s decentralized AI network “opens up endless possibilities for both users and developers to collaborate with AI agents.”
GaiaNet began its first-phase product testing in Q2 2024 and plans to release its testnet and software development kit in Q3 2024.
Summary Review: GaiaNet’s innovative approach to decentralized AI has garnered significant investor support, raising $10 million to further its development. By leveraging blockchain technology, GaiaNet aims to democratize AI access and provide an inclusive alternative to traditional centralized systems. As the company moves forward with product testing and upcoming releases, it holds the potential to significantly impact the AI landscape, fostering collaboration and innovation in the field.
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