Blockchain protocol ORA has secured $20 million in funding to revolutionize the way artificial intelligence (AI) models interact with the blockchain. This investment round, led by Polychain, HF0, and Hashkey Capital, fuels ORA’s mission to tokenize AI models and unlock a new era of “decentralized AI.”
ORA is excited to announce a $20M fundraise from top backers:@polychain@hf0residency@hashkey_capital@sevenxventures
and more 🌟 pic.twitter.com/smhU5FPx1Y
— ORA ⏺️ (@OraProtocol) June 26, 2024
The core of ORA’s innovation lies in tokenization. By tokenizing AI models, ORA essentially transforms them into digital assets tradable on a blockchain. This enables ownership and revenue sharing for these models. Imagine an AI model used for image recognition being co-owned by a community through token purchases. Every time the model is used, fees are collected and distributed to token holders.
This mechanism called an Initial Model Offering (IMO), opens doors for democratized AI development and participation. It allows anyone to invest in and potentially profit from the success of an AI model. Additionally, ORA’s technology fosters a more transparent and verifiable AI ecosystem.
ORA’s solution extends beyond tokenization. Their “optimistic machine learning” (opML) technology empowers blockchains to conduct AI inferences directly. This eliminates the need for centralized servers, paving the way for secure and trustworthy on-chain AI applications.
