Tech
Now, with the goal of “unlocking the design space for AI DApps,” it raises $20 million
Now, a blockchain project to incorporate artificial intelligence into decentralized applications (dapps), said it has raised $20 million in funding from investors including Polychain, HF0, and Hashkey Capital.
According to a press release, the new funding will allow the project “to continue developing its technology and infrastructure to tokenize AI models and bring decentralized AI to the Ethereum ecosystem.”
Now, founded in 2022 and describing itself as a “verifiable” company oracle protocol,” provides developers with the tools needed to build reliable, decentralized, end-to-end applications that are powered by artificial intelligence, Project documentation states. An oracle provides real-world information such as prices, temperatures, and other data to a blockchain.
“Their Optimistic Machine Learning (opML) technology is the fundamental mechanism behind their revolutionary product, opp/ai,” according to the press release. “Through optimistic systems and zero-knowledge technology, it will provide secure and efficient on-chain machine learning with privacy-preserving capabilities.”
It now also offers what it calls an “initial model offering,” or IMO, where ownership of open-source AI models can be tokenized.
Kartin Wong, one of Ora’s founders, said in the statement that the project could “unlock the design space for AI dapps.”