Quick take:
The new subsidiary will be led by DCG founder Barry Silbert, who will be its CEO.
The company will provide startups and projects with the capital, infrastructure, and technical resources needed to explore and build on Bittensor.
Yuma has already helped the likes of Sturdy, Masa, Score, and Infinite Games to launch subnets successfully on Bittensor.
Digital Currency Group, the venture capital firm focused on the digital asset sector has launched Yuma, a new subsidiary that will support startups and projects building on Bittensor. Bittensor is a decentralised open network that allows anyone to create, train, and access AI.
DCG first invested in the platform in 2021 and has continued to support the advancement of decentralised intelligence as it sees it as “both an economic catalyst and a path toward a more equitable digital ecosystem.”
DCG founder Barry Silbert will serve as the CEO of Yuma as he seeks to leverage his firm’s experience in advancing digital assets and bring it to the decentralised AI space. Silbert will also continue to lead DCG as its CEO, the company said in a press release on Tuesday.
“Just like the early days of Bitcoin, which fueled the development of a new form of transparent, borderless money, we’re moving from the digital ownership of assets to the decentralized ownership of intelligence,” said Silbert.
According to Silbert, Yuma will help startups and projects with capital, technical resources, operational support and everything else they need to deploy their innovative ideas onto the Bittensor network.
Dubbed the ‘world wide web’ of decentralised AI, anyone can use Bittensor to create, train and access AI models. Contributors are rewarded using the platform’s native token $TAO.
“We created Bittensor to offer a competitive alternative to the top-down world that limits access to high-powered AI capabilities,” said Bittensor co-founder Jacob Steeves.
“We’re championing open access to technology liberated from conventional gatekeepers so that we can ensure the AI revolution is accessible to the next generation of visionaries shaping our world,” said Steeves.
Yuma, which has its early subnet program running has already helped the likes of Sturdy, Masa, Score, and Infinite Games to launch subnets successfully on Bittensor.
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The post Digital Currency Group Launches Yuma to Invest in Decentralised AI Projects appeared first on NFTgators .
