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Building the next breakthrough artificial intelligence model requires a lot of computing power. But, can crypto help to provide it?
What’s happening:
- Artificial intelligence training and development startup Nodepay has raised $7M USD in a new financing round
- The round was led by IDG Capital, Mythos and Elevate Ventures
The big idea:
- Nodepay leverages unused internet bandwidth capabilities for training artificial intelligence models
- Users of Nodepay share their unused internet bandwidth through privacy protected nodes and earn token based rewards for increasing the computational power of the Nodepay network
- Startups and companies training new artificial intelligence models are then able to access the additional bandwidth capacity provided by the Nodepay network and use it for their workloads as well as real time data retrieval
Why it matters:
- Some of the largest venture capital funds in crypto initially backed Nodepay’s first funding round, including Dragonfly, JUMP Crypto and Animoca Brands
By the numbers:
- Nodepay is already in 180 countries globally and has 1.3M operational nodes that are connected to the Nodepay network
Going deeper:
- There has been a lot of innovation being built around how crypto can reinvent wireless connectivity, which just recently led asset management giant VanEck to lead a new funding round for decentralized physical infrastructure startup DAWN
