Coinspeaker DWF Labs Partners with Near Protocol to Boost AI Development in Web3

DWF Labs, a Dubai-based web3 market maker, has announced a strategic partnership with Near Protocol (NEAR), a fast-growing layer one (L1) blockchain focused on the development of artificial intelligence (AI). The collaboration between DWF Labs and Near Protocol will solely focus on driving the innovation of AI across the Web3 ecosystem.

Henceforth, DWF Labs will actively invest in innovative AI startups within the Near Protocol ecosystem. Furthermore, DWF Labs recently unveiled a $20 million AI Agent Fund, which BIS solely focused on accelerating innovation in the intersection of AI and blockchain technologies.

“At DWF Labs, we believe in empowering builders who are shaping the future of autonomous technologies. The NEAR Protocol stands out as a leader in enabling verifiably decentralized AI agents, offering a robust ecosystem and resources for developers. By partnering with builders on NEAR, we are excited to support teams at the forefront of AI innovation, helping them bring these solutions to market and redefine what’s possible in blockchain-powered AI,” Andrei Grachev, Managing Partner of DWF Labs, noted.

In the recent past, the Near Protocol has made significant strides in the intersection of AI and crypto through the Horizon AI Accelerator. Moreover, dozens of projects have received much-needed funding and technical support from the Near Protocol.

According to the announcement, DWF Labs will work with DeFi projects in the Near Protocol to support the mainstream launch of AI agents focused on the financial sector.

Market Impact of Collaboration Between DWF Labs and Near Protocol

Backed by dozens of investors, led by Grayscale Investments, Near Protocol has grown to a vibrant DeFi ecosystem with more than $236 million in total value locked (TVL) and over $684 million in stablecoins market cap.

Following the announcement, NEAR $5.22 24h volatility: 4.5% Market cap: $6.12 B Vol. 24h: $236.80 M price rallied more than 6 percent in the past 24 hours to trade at about $5.23 on Wednesday, January 15, during the mid-New York session. The mid-cap altcoin, with a fully diluted valuation of about $6.14 billion and a 24-hour average trading volume of around $270 million, is on the verge of kickstarting the next bullish cycle toward its all-time high.

Furthermore, the AI industry is expected to play a crucial role in the mainstream adoption of digital assets and Web3 protocols. Already, the outgoing United States President Joe Biden has signed two Executive Orders to enable safer, secure, and scalable artificial intelligence in the near future, led by the private sector.

The development of robust large language models to help machines perform natural language processing tasks will significantly democratize the adoption of digital assets and Web3 protocols in the near future.

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DWF Labs Partners with Near Protocol to Boost AI Development in Web3