Written by Zen, PANews
In the first half of 2024, driven by the AI boom, the US stock market soared, with the S&P 500 hitting 31 record closing highs. Nvidia, the "first AI stock", was frequently in the news, with its stock price soaring 149% and entering the $3 trillion club.
The trend is just right. Today's technology startups almost always talk about AI. Even if they are not focused on the AI field, they will emphasize which AI technologies they use. Well-known investment institutions such as a16z no longer set up AI-related funds, because artificial intelligence now plays an important role in almost all startups. As another "hot spot" that the technology industry cannot avoid in recent years, the intersection of Web3 and AI is undoubtedly a direction worth exploring. The concept of "AI improves productivity, Web3 changes production relations" gives people endless reverie.
Referring to the "Funding Weekly Report" column, PANews has counted the "Web3+AI projects" that received financing in the first half of this year. These projects apply artificial intelligence technology to varying degrees, involving computing power and algorithm infrastructure, data and privacy, DeFi, games and other entertainment products, as well as applications that provide content creation tools, AI Agent/bot and other services. The following will also review the 64 "Web3+AI projects" that completed financing in the first half of 2024 according to this classification method.
20 infrastructure projects, with the highest single financing amount reaching US$85 million
Sentient
An AI research organization dedicated to building open source AI models through community contributions, allowing users to access and contribute models, and providing rewards based on contributions. One of Sentient's core contributors is Polygon co-founder Sandeep Nailwal. It will be built on Polygon and may also create its own chain through the Polygon Chain Development Kit (CDK), with plans to launch a testnet in the third quarter of this year. Sentient raised $85 million in a seed round of financing co-led by Founders Fund, Pantera Capital, and Framework Ventures.
io.net
Solana Ecosystem DePIN Protocol aims to aggregate GPU resources for artificial intelligence (AI) and machine learning (ML) companies, aiming to build its decentralized GPU network and solve the AI computing shortage problem. io.net has completed a $30 million Series A financing round, led by Hack VC, with participation from Multicoin Capital, Web3.com Ventures and others.
Allora Labs
The decentralized artificial intelligence network is an L1 blockchain built on the Cosmos stack. It changed its name from Upshot to Allora in February this year and shifted from an NFT evaluation platform to a decentralized artificial intelligence network. Allora's total financing reached US$35 million.
Ritual
Decentralized AI network project Ritual received millions of dollars in additional investment from venture capital firm Polychain Capital this year, the specific amount has not been disclosed. It had previously completed a $25 million financing in November 2023, led by Archetype, with participation from Accomplice and Robot Ventures.
Ora
The AI-driven blockchain project aims to integrate AI into decentralized applications through its "on-chain AI oracle". Ora has completed a $20 million financing round, with participation from Polychain, SevenX Ventures, HF0 and Hashkey Capital.
Airstack
An AI-powered Web3 developer platform that allows developers to access and utilize on-chain data using AI-powered natural language requests. Airstack has raised a total of $11 million from investors including Superscrypt and Red Beard Ventures.
GaiaNet
Used to decentralize the generation of artificial intelligence tool networks. By allowing individuals around the world to host and manage AI models on edge computing nodes, GaiaNet aims to address issues such as privacy protection, technology accessibility, and democratization of AI technology. GaiaNet has completed a $10 million seed round of financing, with investors including EVM Capital, Mirana Ventures, and Mantle EcoFund.
ChainML
The Web3-enabled AI R&D company, which aims to decentralize AI access, has launched an agent base layer called Theoriq, a framework for autonomous AI agents to complete complex tasks. ChainML raised $6.2 million in a seed round of extended financing, led by Hack VC and participated by Foresight Ventures.
REVOX.ai
Modular on-chain AI network. REVOX.ai is committed to combining AI technology with decentralized architecture to provide safer and more efficient AI solutions. REVOX.ai has raised $6 million from investors including SevenX Ventures, Arweave SCP Ventures, Cointelegraph Acceleration, and 7upDAO.
Prime Intellect
A decentralized AI development platform that aims to democratize AI technology. Prime Intellect has raised $5.5 million, led by Distributed Global and Coinfund. The funds and resources will be used to promote its global computing aggregation, distributed training framework development, and open AI model collaborative training.
NodeOps
Blockchain node management platform. NodeOps provides AI infrastructure for node operators and developers, aiming to simplify the development process and operation of Web3 protocols. NodeOps has completed a $5 million seed round of financing, led by L1D.
Tensorplex Labs
The infrastructure of decentralized AI networks aims to accelerate the development of open, decentralized artificial intelligence networks such as Bittensor. Tensorplex Labs has completed a $3 million seed round of financing, led by Canonical Crypto and Collab+Currency, with participation from Amber Group and others.
Hemera
Web3 infrastructure startup, whose Hemera protocol is a Web3 large language model (LLM) operating system built for developers, and SocialScan is a community-owned AI based on the protocol. Hemera has completed a $2.6 million seed round of financing, led by LIF Capital and Nomad Capital.
PrivateAI
Decentralized AI protocol. PrivateAI has launched an AI-native distributed data platform, aiming to build the world's first domain-specific large language model (LLM) for the longevity industry. PrivateAI has completed a strategic round of financing, with participation from DAO Maker and others, and the specific amount of financing has not yet been disclosed.
Optopia.ai
AI Layer2 network. Optopia.ai launched its mainnet in May, aiming to simplify Web3 operations through AI agents, lower the entry barrier for users, and empower AI agents through a token economic model. Optopia.ai has completed its seed round of financing, with participation from G Ventures and Kucoin Ventures.
KIP Protocol
Focusing on the Web3 underlying protocol for AI, the goal is to develop a secure and efficient decentralized Web3 underlying protocol that enables AI creators (data owners, model makers, AI application developers) to deploy their work on Web3, thereby retaining full digital property rights. KIP Protocol's strategic round of financing was led by Animoca Ventures, and the amount was not disclosed.
ANN Layer2
AINN Layer2, a Bitcoin second-layer network project that supports large-scale application of decentralized AI, has received investment from Amber Group and other institutions.
NavyAI
Solana is an on-chain AI model training platform dedicated to AI model training and self-learning, providing cost-effective solutions to reduce AI bias. Through decentralized GPU resources, users can access and train virtual AI models to improve the accessibility and fair innovation of artificial intelligence. NavyAI has completed its seed round of financing, with X Ventures and others participating, and the amount has not been disclosed.
Meson Network
Decentralized physical network. Meson Network claims to focus on DePIN+AI, and its "DePIN" nodes are developed with user-friendly technology and can accommodate a variety of hardware, such as personal laptops, servers, IoT devices, etc. Meson Network is valued at $1 billion in a new round of strategic financing led by Presto Labs, and the specific amount of financing has not been disclosed.
Compute Labs
Compute Labs is an RWA tokenization protocol based on computing assets. Incubated by the NVIDIA Inception VC Alliance, Compute Labs provides investors with AI computing power returns by developing enterprise-level AI computing power tokenization protocol CTP and GPU Restaking solutions. Currently, CTP has been launched on the Solana test network, and the main network is expected to be launched in the third quarter, and TGE will be completed before the end of the year.
10 data categories, many of which focus on privacy and security
OpenLedger
Decentralized and permissionless data infrastructure enables builders to create smarter and more efficient models using verifiable data. OpenLedger raised $8 million in a seed round led by Polychain Capital and Borderless Capital. It is expected to launch the mainnet by the end of the year.
FLock
A native Web3 data privacy solution for AI, its "Federated Learning Blockchain" (FLocks) research program uses blockchain as a coordination platform between data holders to perform machine learning while keeping data local and private. FLock raised $6 million in seed round financing, led by Lightspeed Faction and Tagus Capital, with participation from OKX Ventures and others.
Hyperline
Web3 native data lake development company, mainly building shared storage and computing engines for Web3 developers who build AI products and analytical applications to support data application and service functions. Hyperline has completed a $5.2 million seed round of financing, led by Slow Ventures.
Cookies3
MarketingFi and AI data layer for Web3 businesses, creators and users. Cookie3 announced that it has received $5.5 million in token financing from investors including The Spartan Group, Animoca Brands, etc.
Privacy
The AI-driven data security solution integrates FHEML into the distributed computing power crowdfunding network, and combines it with the self-developed Depin mining machine to form a FHE computing power network that supports all L1 and L2. Privasea's strategic private equity financing was participated by OKX Ventures, Laser Digital under Nomura Group, and Tanelabs, an incubator backed by SoftBank. It also completed a $5 million financing in the seed round.
0xScope
Web3 knowledge graph protocol, 0xScope V2 has been released. The future focus is to provide data support for Web3 AI applications through a proprietary Web3 data layer, and connect AI with Web3 in the process. 0xScope has completed a $5 million Pre-Series A round of financing, led by HashKey Capital, with participation from OKX Ventures, GSR Markets, etc.
Ta-da
Ta-da, an AI data marketplace centered on the “gamified Web3” application model, has raised $3.5 million in funding from investors including Morningstar Ventures, the first-layer blockchain protocol MultiversX, GBV Capital, and others.
Inference Labs
Web3 AI startup Inference Labs, which is committed to making artificial intelligence more accessible and focusing on decentralized and privacy-centric technologies, has raised $2.3 million in Pre-Seed funding led by Digital Asset Capital Management, Delphi Ventures, and Mechanism Capital.
PublicAI
Web3 decentralized AI training network aims to use blockchain technology to generate massive amounts of high-quality training data on a large scale, and enable anyone to earn rewards by providing data works. PublicAI has completed a $2 million seed round of financing, with participation from Solana Foundation and Everstate Capital.
AIT Protocol
AI data infrastructure, Web3 data infrastructure built on blockchain is mainly used for data annotation and AI model training, allowing crypto users to participate in tasks and contribute to AI model development and training while being rewarded. Participants in AIT Protocol's new round of financing include Animoca Brands and others.
6 DeFi categories, mainly intention-driven
Aperture Finance
The AI-driven DeFi platform simplifies DeFi operations through an innovative intent-driven approach, allowing users to specify the desired results. Aperture Finance's total financing amount has reached US$12 million, and its supporters include Skyland Ventures, Blockchain Founders Fund, and Krypital Group.
onaji
A machine learning platform for smart contract blockchains, it has built a platform for training and deploying AI models that can autonomously participate in DeFi on Ethereum and Layer 2. onaji has completed a $2.5 million Pre-Seed round of financing, led by Stratos, with participation from Maven11, Uniswap Labs, IOSG Ventures, and others.
XRADERS
An AI-driven trading management and social platform on BNB Chain. XRADERS has completed $2.1 million in Pre-Seed and Seed rounds of financing, with participation from FBG Capital and others.
0xGen
AI-driven DeFi platform. 0xGen has completed strategic financing, with participation from Principle68, Bella Protocol, Phoenix Chain, etc.
AgentFi
Blast Ecosystem AI drives DeFi protocol. AgentFi's first product uses the ERC-6551 standard to provide on-chain transaction services and automated services that can generate revenue through wallet accounts bound to NFTs. AgentFi has completed its first round of financing, led by Generative Ventures.
Sharpe
AI-driven crypto applications designed for professional traders, providing a unified platform for smart, investment and automated digital assets. Sharpe has completed its seed round of financing, with Animoca Brands, GBV Capital and others participating, and the specific amount has not been disclosed.
15 games and entertainment categories, blockchain games combined with AI become a trend
MetaDinner
Web3 MMO gaming platform, which adopts PVE and PVP gameplay, supports guild DAO governance, sustainable economic system and in-game AIGC editing. MetaCene has completed a $10 million private Series A financing, led by Folius Ventures and SevenX Ventures.
Raiinmaker
Raiinmaker is building decentralized AI tools and Web3 infrastructure to support sports, gaming, and entertainment projects. Users can train AI through iOS or Android phones and receive rewards proportional to their impact on AI models. Raiinmaker has raised a total of $10 million, including a $7.5 million seed round co-led by Jump Capital and Cypher Capital.
DeepLink
A decentralized AI cloud gaming protocol that provides ultra-low latency game rendering solutions for 3A games and cloud internet cafes. It supports ultra-low latency of 1ms and 8K high-resolution gaming experience through AI, blockchain and streaming technology. DeepLink has completed a total of $8 million in angel and A rounds of financing, with a valuation of $100 million. Investors include Gobi Ventures, Hycons, DBC, ROCK Ventures, etc.
ArenaX Labs
Developer of AI Arena, an AI-driven Web3 competitive game. AI Arena allows users to train their own AI characters to fight, and the outcome of each battle depends on the player's skills in training. It aims to help users understand the operation and learning process of artificial intelligence. ArenaX Labs has completed a new round of financing of US$6 million, led by Framework Ventures and participated by SevenX Ventures and others.
Today
Web3 social simulation game, developing intelligent NPCs and code-free creator tools based on generative AI. Today, it has completed a $5 million seed round of financing, led by Sfermion and Big Brain Holdings.
Studio 369
The developer of the blockchain video game "MetalCore" is developing a dynamic mission system that uses AI to generate unique tasks and goals, and it is expected to open game testing at the end of 2024. Studio 369 completed a new round of financing of US$5 million this year, and investors include Delphi Digital, Bitkraft Ventures and Sanctor Capital.
Play AI
A provider of AI and blockchain solutions focused on games and virtual reality, the platform includes Play Markets for data collection, Play Dojo for AI improvement, and Play Hub for seamless AI agent integration. Play AI has completed a $4.3 million first round of financing, with participation from P2 Ventures, Jump Crypto, and others.
Lottery
A Web3 game studio focused on generative AI, Sortium provides technology that integrates AI tools into the existing game production ecosystem to automate challenging content creation tasks. Sortium has completed over $4 million in financing, led by Signum Growth and participated by Cathie Wood's ARK Investment Management LLC.
GOALAI
Web3 football fantasy game, dedicated to using blockchain NFT to integrate with real-world football communities, clubs, fans and competitions, applying AI artificial intelligence, to bring potential and commercial value to Web3 football fans. GOALAI has completed $3 million in financing, led by IDG Capital and participated by KuCoin Ventures and others.
Stage
Web3 music platform. Stage aims to integrate Web3 to allow artists and fans to get fair compensation and participate deeply, introducing the play-and-earn model, RWA and AI music. Stage has completed $2.4 million in financing, with participation from the Solana Foundation and others.
Cell
The full-chain AI game uses virtual proof-of-work (vPOW) asset distribution to provide continuous incentives for games within the ecosystem. Cellula has completed a $2 million Pre-Seed round of financing, led by SevenX Ventures and OKX Ventures; previously, Cellula also received strategic investment from Binance Labs Pre-Seed through the Binance Incubator project.
EventCHI
Dutch blockchain ticketing platform. By seamlessly integrating artificial intelligence and blockchain, EventCHI provides a unified platform for cashless payments, NFT ticketing, and intelligence. EventCHI has completed a seed round of financing of over 1.6 million euros.
Saltwater Games
A UK-based game studio and publisher, it consists of three game studios: Nexus Labs, Maze Theory, and Saltwater Labs. Saltwater Labs is an innovative studio focused on developing emerging technologies in Web3 and AI. It has received investment from Animoca Brands.
CARV
Focusing on the modular data layer for the gaming and AI industries. As the sole author of ERC7231, CARV built the CARV Protocol, which has been integrated with more than 40 chains, Google Cloud, and other identity, storage, infrastructure, and AI ecosystems. It has received support from Temasek's Vertex Ventures, ConsenSys, Tribe Capital, IOSG Ventures, HashKey Capital, Animoca Brands, etc.
Sleepless AI
Web3+AI gaming platform, which has completed a new round of financing led by Folius Ventures, the specific amount of which has not been disclosed. According to its introduction, Sleepless AI is the winner of Binance MVB V Accelerator and has previously completed investments from Binance Labs and Foresight Ventures.
13 application products, many of which focus on creator economy
MediConCen
MediConCen, a Hong Kong blockchain insurance technology company, mainly uses the latest artificial intelligence (AI) and blockchain technology to digitize paper and manual claims processes. MediConCen has completed a US$6.85 million (approximately HK$53.43 million) Series A financing, led by HSBC Investment Management and participated by Gaomei Capital, with a total financing amount of US$12.7 million.
MyShell
A creator-focused Web3 AI platform that primarily targets content creators and consumers, allowing the generation of AI agents or bots. MyShell has raised $11 million in a round led by Dragonfly.
Bluwhale
AI Web3 startup Bluwhale takes a new approach that puts control and revenue in the hands of wallet holders, enabling them to decide whether they want to engage with marketers and monetize their information. Bluwhale has raised $7 million in seed funding led by SBI.
Data
Decentralized artificial intelligence search engine. Adot (a.xyz) has raised a total of $6 million, with Hash Global, SevenX Ventures, Mask Network and others participating in the investment.
Sahara
A decentralized AI network that is trustless, permissionless, and privacy-centric, creating customized autonomous knowledge agents (Sahara KA) for individuals and businesses, allowing everyone to leverage their knowledge capital to explore monetization and automation opportunities through AI. Sahara has completed a $6 million seed round of financing, led by Polychain Capital and participated by Samsung Next and others.
YogaPetz
Combining AI with a decentralized body-mind ecosystem, YogaPetz has raised over $5 million in seed round financing and NFT sales. The seed round was led by Animoca Brands, Newman group and Soul Capital Partners.
SOAI
The AI social platform aims to focus on reshaping the virtual companion industry ecosystem through advanced AI technology and creating customized AI soulmates for billions of people around the world. SOAI has completed a $5 million institutional angel round of financing, of which Archer Capital invested $3 million and XForce Capital invested $2 million.
Bythene
Human-computer interaction AI protocol, which is building an artificial intelligence product protocol to create AI-driven 3D avatar agents with autonomous capabilities. Bythen has completed a $3 million seed round of financing, with investors including East Ventures, BEENEXT, etc.
Talus Network
A blockchain platform focused on decentralized artificial intelligence, the network aims to leverage the power of Move, emphasizing security, speed, and enhanced developer experience to foster a diverse ecosystem of intelligent agents for decentralized applications. Talus Network has completed a $3 million financing round led by Polychain Capital and participated by dao5 and others.
SmartLoC
SmartLoC is a blockchain and AI-based B2B payment solution that focuses on optimizing the way companies conduct financial transactions around the world using technologies such as the Internet of Things, blockchain, and artificial intelligence. SmartLoC has completed a €1.8 million financing round led by High-Tech Gründerfonds (HTGF).
imgnAI
Crypto AI platform, image generation robot platform launched at the end of 2022, the imgnAI crypto token on its website is used to unlock advanced features and mint images directly as NFTs. Crypto AI platform imgnAI has completed a $1.6 million seed round of financing led by Hack VC.
LinkTo
Web3 traffic aggregation marketing platform, through the introduction of advanced traffic technology and AI algorithms, LinkTo aims to provide brands and advertisers with a platform that can accurately locate and effectively reach target audiences, while ensuring data security and user privacy. LinkTo has completed its seed round of financing, with participation from Adaverse and others.
Creator.bid
Based on blockchain and AI-driven digital content monetization and ownership platform, it supports content creators to build AI-driven digital assets to monetize content and manage writing, and also provides tools to enhance creators' autonomy in managing their work and income. Creator.bid's financing amount was not disclosed, and investors include Mechanism Capital and others.
