0G Foundation Launches $88.8 Million Fund for Decentralized AI Initiatives
The 0G Foundation is establishing a significant fund aimed at fostering the development of decentralized AI applications, supported by prominent blockchain investors.
0G Foundation Launches $88.8 Million Fund for Decentralized AI Initiatives
The governance foundation for the decentralized AI ecosystem, 0G, has initiated an $88 million fund dedicated to developing AI applications.
The 0G Foundation is inviting proposals from teams working on decentralized finance (DeFi), on-chain data marketplaces for secure data sharing, and AI-driven gaming and social apps.
Notable Backers
The fund is supported by notable investors in the blockchain venture capital sector, including Hack VC, Delphi Ventures, and OKX Ventures. This set of investors also backed a previous $40 million seed funding round for Zero Gravity Labs, an essential contributor to the 0G initiative.
Rationale Behind the Fund
The growing influence of AI across various sectors has prompted blockchain industries to push for decentralization in data usage, aiming to mitigate the control exerted by a few dominant players in the AI landscape.
