Singapore, 30 August 2024, 10am (SGT) - Edge Matrix Chain (EMC), a global leader in multi-chain AI infrastructure and a Future3 Campus incubator project, today announced the successful raising of US$20 million, led by Amber Group and P2 Ventures.
Other notable investors include One Comma, Kapley Judge and Associated Corporations, Cyberrock Venture Fund, Candaq Fintech Group and Hameem Raees Chowdhury.
Introducing AI-driven Layer 1 Networking
The funds will be used to launch EMC’s dedicated Layer 1 blockchain focused on AI-driven dApps.
This innovative AI-centric blockchain aims to scale and support GPU computing for crypto AI projects while introducing a new DeFi asset class backed by tokenized real-world GPU resources.
EMC decided to launch this dedicated Layer 1 blockchain because it needs to be optimized for AI applications, and existing Layer 1 and Layer 2 blockchains are not designed to handle these applications.
Developing a decentralized AI ecosystem
EMC’s AI-centric blockchain will provide native support for distributed GPU computing, enabling seamless integration with a variety of large language models (LLMs) and AI frameworks.
It will also optimize data storage and retrieval for AI workloads, enabling developers to build, deploy, and scale decentralized AI applications more easily than on existing general-purpose blockchains.
This includes compute-intensive AI applications such as generative AI chatbot training on large datasets.
Introducing new DeFi asset classes
One of the core features of the EMC Blockchain is the ability to tokenize compute assets, allowing investment and fractional ownership of high-performance GPU resources.
This unique offering combines the power of real-world assets with the liquidity and accessibility of blockchain technology, making EMC stand out from other AI token projects in the market.
Due to the rapid growth of AI applications, demand for these tokenized computing assets powered by physical GPUs will grow by 160%.
The EMC ecosystem will introduce a new DeFi asset class that leverages the tokenized H100 Tensor Core GPUs developed by Nvidia.
These real-world assets (RWAs) will be tokenized and available for fractional ownership, allowing users to invest and benefit from the returns generated by outsourcing on-chain GPU resources.
The EMC Network aims to provide a sustainable and scalable annual yield (APY) on these tokenized assets, creating an attractive story for both institutional and retail investors.
Comprehensive Web3 infrastructure
EMC’s AI blockchain solution complements the company’s comprehensive Web3 infrastructure, which already includes data storage, oracle services, and GPU cloud services.
By providing a full-stack solution, EMC enables developers to seamlessly build and deploy AI applications that leverage the benefits of decentralization and blockchain technologies.
Additionally, the EMC Network will support cross-chain functionality with other major blockchains such as Arbitrum, TON, and Solana, ensuring interoperability and leveraging the liquidity and user base of these established networks.
CEO Statement
Alex Goh, co-founder and chairman of Edge Matrix Chain (EMC), said:
“We are grateful for the support and belief of our investors in our mission to build a purpose-built blockchain for AI. This funding will enable us to accelerate the development and launch of an AI-centric layer 1 blockchain that provides developers with tokenized GPU computing and purpose-built tools for building AI applications. Our vision is to create a decentralized ecosystem that makes AI more accessible and cost-effective by leveraging idle, underutilized GPU resources and enabling new DeFi primitives through tokenized fractional ownership of underlying computing assets.”
Testnet and Bounty Program
EMC will launch a two-month public testnet incentive program on August 17, providing rewards through mining and ecosystem reward programs.
The EMC Foundation plans to distribute a $5 million bonus pool through a two-phase incentive program to attract and reward early contributors and loyal users, provide unique ecosystem benefits, and support innovation through joint ecosystem projects.
This public testnet rewards program will provide global developers and users with the opportunity to participate in the EMC ecosystem, experience EMC's innovative technologies, and contribute to its future development.
The team is working day and night to prepare for the mainnet launch expected later this year, which once launched will enable developers to deploy their AI applications and fully tap the potential of EMC's decentralized AI ecosystem.
To learn more about Edge Matrix Chain (EMC) and its purpose-built AI-centric blockchain, visit:
earn.emc.network
About Edge Matrix Chain (EMC)
EMC is the leading multi-chain AI infrastructure paving the way for the future of decentralized AI (DeAI), and the platform hosts a variety of AI-driven dApps that run seamlessly on the EMC network, including the integrated AI agent Jarvis, which works behind the scenes to enhance user experience and application functionality.
The EMC Network features a unique combination of utility-driven economics based on GPU power to facilitate the use and trading of computing resources, providing a more convenient and streamlined transaction and usage model for nodes and end users.
For more information, visit:
emc.network
For more articles from EMC, read:
AI × DePIN Project EMC Completes Millions of Dollars in First Round of Financing, Swiss Bochsler Group and Others Participate
Exploring the future of EMC: RWA + DePIN, GPU + AI DApps
#EMC #AmberGroup #AI幣 #Depin赛道 #RWA板块涨势强劲
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