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PRESS RELEASE. Singapore, August 16, 2024 – KIP Protocol, the Foundation Layer of Web3 for AI, today announced that it has raised $5 million in its latest private funding round, co-led by Animoca Ventures and Tribe Capital. This round brings KIP’s total funding to $10 million, accelerating its mission to decentralize AI development.
Other investors participating in this round, which was co-led by Animoca Ventures and Tribe Capital, include GBV Capital, DWF Ventures, Morningstar Ventures, Kyros Ventures, K300 Ventures, New Tribe Capital, ZBS Capital, Purechain Capital, and Fomocraft Ventures.
Along with the recent adoption of OCP-12, which will enable KIP Protocol to launch and manage Open Campus U, the completion of the private investment round is another important milestone in KIP Protocol’s mission to eliminate antitrust barriers in the AI industry and create a more equitable environment for AI developers and consumers.
Unleashing the Power of AI with Web3
As the Foundation Layer of Web3 for AI, KIP Protocol unlocks the potential of Decentralized AI (DeAI) by solving critical problems faced by AI product developers in Web3 deployment, connectivity, and monetization.
Focused on monetizing AI products, KIP creates the data and payment pathways needed for AI developers to build profitable businesses around their AI assets.
As the winner of the 2023 Chainlink Hackathon, KIP’s Decentralized Knowledge Empowerment (D/RAG) framework provides AI asset owners with unprecedented control, creating a foundation that delivers seamless distribution, monetization, and full ownership rights.
The project’s practical and user-centric approach has earned it significant recognition and attracted the attention of top-tier partners such as Open Campus, Aethir, Google Cloud, Moemate, and OKX Wallet. These strategic partnerships underscore KIP Protocol’s position as a pioneer in the AI and Web3 integration space, paving the way for a new era of innovation for DeAI adoption.
Taking Decentralized AI Development into the Future
The newly raised funds will serve as a catalyst for KIP Protocol’s mission to develop DeAI. Through investments in creating powerful and secure AI solutions, the project aims to drive unprecedented levels of adoption and innovation. KIP Protocol’s unwavering commitment to creating a more equitable environment for all AI stakeholders positions it as a strong competitor to existing industry monopolies.
James Ho, President of Animoca Ventures, added: “We are excited to support KIP Protocol’s mission to create real opportunities for AI developers through Web3. By facilitating payments and data sharing, KIP enables developers to turn their innovations into sustainable businesses while preserving full digital ownership rights. We believe this holistic approach will fuel the next wave of AI in Web3.”
“Decentralized, transparent AI has great potential to realize an AI future that elevates and supports humanity, but one of the biggest challenges facing DeAI is incentives. KIP ensures fair and transparent compensation for all contributors by creating robust payment paths across AI models, applications, and datasets. KIP’s approach creates real economic opportunities for AI developers to contribute to a decentralized, open AI future using blockchain,” said Boris Revsin, Managing Director of Tribe Capital.
Julian Peh, Co-Founder and CEO of KIP Protocol, emphasized the importance of this funding round: “This funding will support KIP Protocol’s mission to empower AI creators—model owners, data producers, and application developers—to securely deploy and monetize their assets in a decentralized environment. We are moving beyond pure theoretical technology to deliver solutions and applications with real end users. KIP’s potential market is the largest in all of DeAI, and we are fully prepared to serve this market.”
Onboarding Millions of Users with Real Use Cases at DeAI
Demonstrating its commitment to real-world applications, KIP’s collaboration with Moemate aims to onboard over 3 million AI users to Web3 via the KIP Protocol. In parallel, KIP’s recent OCP-12 proposal led to unanimous approval of a $10 million fund to build Open Campus U. This DeAI learning platform will redefine the education sector by leveraging KIP’s cutting-edge D/RAG solution and showcase the immense potential of DeAI in the trillion-dollar education industry by offering personalized learning experiences from leading educators.
As nodes form the backbone of the DeAI ecosystem, KIP is holding a node sale offering rapidly increasing rewards over three years of 20% of the total $KIP supply. These nodes provide the computational resources and security necessary to enable real-world AI applications, highlighting the growing impact of KIP’s cutting-edge AI solutions.
About KIP Protocol
KIP Protocol establishes Web3 infrastructure for AI application developers, model builders, and data owners, enabling easy distribution and monetization of AI assets while preserving full ownership rights.
KIP pioneered Decentralized Knowledge Empowerment (D/RAG) as the winner of the 2023 Chainlink Hackathon. This expertise has been transformed into KnowledgeFi, a framework currently used by leading Web3 companies to monetize Knowledge Assets using AI.
By solving vital problems encountered in decentralized AI deployments, KIP aims to initiate entirely new business ecosystems and enable everyone to enjoy the economic benefits brought by AI.
Founded and led by experienced AI PhD holders and tech business veterans, KIP aims to be a catalyst for the widespread adoption of decentralized AI.
For more information, visit www.kip.pro or follow @KIPprotocol on X.
For media inquiries, email press@kip.pro.