Odaily News On January 23, the decentralized Edge AI infrastructure platform Network3 officially announced the establishment of a $10 million mining fund to promote fairer, more efficient, and low-cost AI development. It is reported that the fund will be used to support outstanding projects and teams within the ecosystem, including technology research and development, application implementation, and community operations, and to attract more institutions to participate in POS staking mining.
The fund is mainly used in the following areas:
1. Technology research and development: used to cultivate projects deployed in the Network3 mining ecosystem, carry out technology iteration around the three major directions of "energy saving", "efficiency" and "safety", and work together to give full play to the advantages of the decentralized Edge AI network and enhance usability;
2. Application implementation: It is used to provide one-stop services including industry research, product development, business development, and application commercialization to help implement products;
3. Community operation: used to attract outstanding marketing and operation talents, market development and operation activity planning, and promote the scale growth of the community.
Network3 is committed to technological innovation and application promotion in the field of Edge AI. By introducing a high-performance computing network, Network3 provides users and developers with a more fair, transparent and efficient computing power trading platform, exploring a new paradigm in the AI computing resource market.
Since its establishment, Network3 has achieved remarkable results in DePIN and AI, with more than 620,000 nodes worldwide, covering 188 countries. By building a high-performance computing network and massive user Edge Data, it has completed the commercial monetization closed loop on the supply side and the demand side.
Previously, $N3 tokens had started spot trading on exchanges such as Bybit, Gate.io and BingX at 16:00 Beijing time on January 22.
Network3 completed a pre-seed & seed round of financing of US$5.5 million on July 23, 2024. Investors include VCs such as Borderless, EV3 Labs, IoTeX, SNZ, Bing Ventures, Waterdrip Capital, and Web3port Foundation.