🔥🔥🔥 OVERVIEW OF IO.NET PROJECT ($IO)

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⏩ What is IO.NET?

io.net is the Solana DePIN network that aggregates GPU resources for AI & Machine Learning (ML) companies. The project aims to provide computing power at a low cost and with faster processing times than current solutions.

DePIN (Decentralized Infrastructure for Parallel Processing and Neural Networks) are projects developed based on blockchain technology to solve the problem of centralization in building and operating physical infrastructure in the real world.

According to Hack VC (the fund leading io.net's $30 million funding round), this project helps customers save up to 90% on AI costs on their cloud platform. Today, io.net claims to have grown to 25,000 GPUs and processed 40,000 compute hours for AI and ML companies. In an era where GPU chips are in short supply globally, io.net's solution is considered a particularly impressive achievement. 

⏩ Who is the project team?

io.net was founded in 2022 by Ahmad Shadid & is based in the United States. To date, the project has about 30 members, with the key team including:

- Ahmad Shadid (Founder & CEO)

- Garrison Yang (CSO & CMO)

- Tory Green (COO)

⏩ Who is the investor?

io.net raised $30 million in Series A round taking place on March 5, 2024 led by HackVC, with the participation of 2 Tier 1 investment funds, Delphi Digital & Multicoin Capital and a series of other organizations such as Solana Ventures, OKX Ventures, Animoca Brands, …

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