Startup Grass Raises $3.5 Million in Seed Funding for Decentralized AI Oracle
Grass, a startup focused on passive income, has secured $3.5 million in seed funding to establish itself as a decentralized oracle for artificial intelligence (AI). The funding round was co-led by Polychain Capital and Tribe Capital, bringing the total funding for Grass to $4.5 million. Other investors, including Bitscale, Big Brain, Advisors Anonymous, Typhon V, and Mozaik, also participated in the round.
A Decentralized Model for Web Scraping
The founders of Grass believe that a decentralized model offers significant advantages for web scraping. They describe Grass as a decentralized oracle for AI that will generate datasets traceable to their origin. This will enable fair compensation for contributors to the network.
Expanding the Network
With the funding, Wynd Network plans to expand its network of nodes and further grow its presence in the decentralized web scraping landscape. Grass was launched in June and is part of Wynd Network’s efforts to transform public web data into valuable AI datasets. The platform mobilizes home internet connections for data scraping and verification.
The Intersection of Blockchain and AI
Analysts at a16z recently published a report highlighting the potential use cases of blockchain technology in conjunction with AI. They emphasized that blockchain networks can serve as a counterbalancing force to centralized AI and create multi-sided, global, permissionless markets. The popularity of AI-related tokens in the cryptocurrency space is also on the rise, with a total market cap of $9.03 billion for AI tokens.
Hot Take: Increased Popularity of AI Tokens
Tokens related to artificial intelligence are gaining popularity in the cryptocurrency market. Platforms like Fetch.ai and Arkham Intelligence have experienced significant growth in their native tokens, reflecting the growing interest in AI-driven technologies. As the intersection of blockchain and AI continues to evolve, decentralized oracles like Grass have the potential to revolutionize data sourcing and compensation for contributors in the AI ecosystem.
By
By
By
By
By