Decentralized AI Developer GaiaNet Secures $10M for Blockchain-Optimized AI

GaiaNet, a decentralized AI developer, is challenging the centralized artificial intelligence landscape by leveraging blockchain technology for a new approach. The company has secured $10 million in funding to build its blockchain, optimized for large language models and generative software.

This funding will support the development of a decentralized network of edge nodes managed by private individuals and businesses. This democratization of AI tools aims to offer a more inclusive alternative to existing tech giants.

GaiaNet CEO Matt Wright stated that the company aims to “redefine the way humans and AI engage to enable sovereign infrastructure” for handling artificial intelligence.

The firm is addressing the shortage of higher education experts through decentralized AI-powered teaching assistants. This initiative expands on a partnership with the University of California to build chatbots for STEM students.

The seed funding round saw participation from notable investors, including Lex Sokolin of Generative Ventures, Brian Johnson of Republic Capital, Shawn Ng of 7RIDGE, Kishore Bhatia, EVM Capital, Mirana Ventures, Mantle EcoFund, and ByteTrade Lab.

Lucas Lu, CEO of ByteTrade Labs, commented that GaiaNet’s decentralized AI network “opens up endless possibilities for both users and developers to collaborate with AI agents.”

GaiaNet began its first-phase product testing in Q2 2024 and plans to release its testnet and software development kit in Q3 2024.

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