Singapore, 14 August 2024 – KIP Protocol, the Web3 Base Layer for AI, introduced a profitable $5 million elevate in its newest personal funding spherical, co-led by Animoca Ventures and Tribe Capital. This spherical propels KIP’s complete funding to $10 million, accelerating its mission to decentralize AI improvement.
Co-led by Animoca Ventures and Tribe Capital, different buyers within the spherical additionally embrace GBV Capital, DWF Ventures, Morningstar Ventures, Kyros Ventures, K300 Ventures, New Tribe Capital, ZBS Capital, Purechain Capital and Fomocraft Ventures.
Along with the latest passing of OCP-12 by which KIP Protocol would launch and handle Open Campus U, the closing of the personal spherical is one other milestone in KIP Protocol’s mission of dismantling monopolistic boundaries within the AI business and fostering a extra level-playing discipline for AI builders and customers.
Unlocking the Energy of AI by means of Web3
KIP Protocol, the Web3 Base Layer for AI, opens up the potential of Decentralized AI (DeAI) by fixing essential issues confronted by AI product builders in Web3 deployment, connectivity and monetization.
With a agency deal with AI product monetisation, KIP creates much-needed information rails and cost rails for AI builders to create worthwhile companies round their AI asset.
As a winner of 2023 Chainlink Hackathon, KIP’s Decentralized Retrieval-Augmented Era (D/RAG) framework types the idea for empowering AI asset holders with unparalleled management, enabling seamless deployment, monetization, and full possession rights.
The venture’s sensible and user-focused strategy has earned it important recognition and attracted a powerful roster of top-tier companions, together with Open Campus, Aethir, Google Cloud, Moemate, and OKX Pockets. These strategic collaborations underscore KIP Protocol’s place as a trailblazer within the AI and Web3 integration house, setting the stage for a brand new period of innovation and DeAI adoption.
Fueling the Way forward for Decentralized AI Improvement
The newly raised funds will function a catalyst for KIP Protocol’s mission to advance DeAI improvement. By investing within the creation of sturdy and safe AII options, the venture goals to drive unprecedented ranges of adoption and innovation. KIP Protocol’s unwavering dedication to making a extra equitable surroundings for all AI stakeholders positions it as a formidable challenger to the present business monopolies.
James Ho, Head of Animoca Ventures, added: “We’re incredibly excited to support KIP Protocol’s mission in creating real opportunities for AI developers via Web3. By streamlining payments and data sharing, KIP makes it easy for developers to turn their innovations into sustainable businesses while retaining full digital property rights. We believe this holistic approach will drive the next wave of AI adoption in Web3.”
Boris Revsin, Managing Director of Tribe Capital, acknowledged: “Decentralized, transparent artificial intelligence has a lot of potential to realize a future of AI that elevates and supports humanity, but one of the major challenges DeAI faces is the incentives. By establishing robust payment rails between AI models, apps, and data sets, KIP ensures fair and transparent compensation for all contributors. KIP’s approach utilizes blockchain to enable real economic opportunities for AI developers at any level to contribute to a decentralized, open future of AI”
Julian Peh, Co-Founder and CEO of KIP Protocol, remarked on the importance of this funding spherical: “This funding will fuel KIP Protocol’s mission to empower AI creators—model owners, data producers, and app developers—to securely deploy and monetize their assets in a decentralized environment. We move beyond pure theoretical technology to solutions and applications with actual end users. KIP’s potential market is the largest in all of DeAI, and we are positioned to fully serve it.”
Onboarding Hundreds of thousands of Customers through Actual Use Instances in DeAI
Demonstrating its dedication to real-world functions, KIP’s partnership with Moemate is about to onboard over 3 million AI customers into Web3 through KIP Protocol. In parallel, KIP’s latest OCP-12 proposal led to the unanimous approval of a $10 million fund to construct Open Campus U. The DeAI studying platform will leverage KIP’s cutting-edge D/RAG resolution and redefine schooling by providing customized studying experiences from main educators, showcasing the immense potential of DeAI within the multi-trillion greenback schooling business.
As nodes kind the spine of its DeAI ecosystem, KIP is operating a node sale, providing quickly accruing rewards from 20% of the full $KIP provide over three years. These nodes will present the computational assets and safety wanted to allow real-world AI functions, underscoring the rising impression of KIP’s cutting-edge AI options.
About KIP Protocol
KIP Protocol builds Web3 infrastructure for AI app builders, mannequin makers and information homeowners, empowering simple deployment and monetization of AI property whereas sustaining full possession rights.
KIP was a pioneer in Decentralized Retrieval Augmented Era (D/RAG), being a winner of the Chainlink Hackathon in 2023. That experience in D/RAG was constructed right into a framework known as KnowledgeFi, presently utilized by main Web3 corporations to monetise Information Belongings utilizing AI.
KIP solves mission-critical challenges confronted in decentralized AI deployments, with an intention to jumpstart wholly new enterprise ecosystems, and make sure the financial advantages caused by AI could be loved by all.
Based and helmed by veteran AI PhDs and tech enterprise veterans, KIP goals to be a catalyst for the widespread adoption of decentralized AI.
To be taught extra, go to www.kip.professional or observe them on X @KIPprotocol
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