Aelf Incorporates AI Into Its Network, Announces Support For AI Projects Aimed At Blockchain Integration With $50M Fund

by Alisa Davidson

Published: April 12, 2024 at 8:33 am Updated: April 12, 2024 at 8:33 am

by Anastasiia O

Edited and fact-checked:
April 12, 2024 at 8:33 am

In Brief

Aelf intends to incorporate AI into its blockchain platform to broaden its capabilities and elevate user experiences.

Aelf Incorporates AI Into Its Network, Announces Support For AI Projects Aimed At Blockchain Integration With $50M Fund

Layer 1 blockchain project aelf intends to incorporate AI technology into its blockchain platform. This integration will facilitate the blockchain’s evolution from a decentralized network to an ecosystem enriched with advanced AI models and agents. This expansion will broaden its capabilities and elevate user experiences.

Aelf is a comprehensive solution for Web3 decentralized applications (dApps), leveraging a cloud-native, high-performance blockchain system. Its infrastructures and developer tools support Web3 applications, ensuring secure, fast, smooth, and cost-effective operations within the blockchain’s ecosystem.

With specialized infrastructures tailored for Web3 applications across decentralized finance (DeFi) and the metaverse realms, it enhances the user and developer experience by offering speed, smoothness, and affordability.

ANNOUNCEMENT

As we envision AI to be the next catalyst for the future of blockchain, we are excited to announce that aelf will be undergoing an AI transformation, pivoting its focus to integrating #AI technology into its blockchain.

The transformation will unlock new… pic.twitter.com/CgyWAu00Dc

— ælf (@aelfblockchain) April 12, 2024

Aelf Ventures Allocates $50M Fund To Back AI Projects For Blockchain Integration

Coinciding with the announcement, aelf also revealed that its investment arm, aelf Ventures, intends to utilize its $50, 000 000 ecosystem fund to back AI projects aiming for blockchain integration.

By introducing a set of developer-friendly toolkits, aelf aims to foster innovation in blockchain and AI and facilitate the integration of related technologies into its blockchain ecosystem. These toolkits empower the community to engage in various activities, including data preprocessing, model training, fine-tuning, deployment, agent development, on-chain deployment, and monetization within the aelf blockchain environment.

Through this endeavor, the company plans to target both its existing games and projects within its network and forthcoming projects.

aelf Ventures supports projects in various domains, focusing on DeFi, Gaming, non-fungible tokens (NFTs), and Public Goods. Over its history, the firm has backed the decentralized Web3 game ecosystem Crystal Fun and the collective entertainment protocol Mythic Protocol. Furthermore, the company has incubated several projects encompassing the decentralized exchange (DEX) Awaken Swap, IDO platform EWELL, cross-chain bridge eBridge, and social recovery account abstraction wallet Portkey, among others.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Alisa Davidson