Inventory of 64 “Web3+AI” Projects That Completed Financing in the First Half of 2024
In the first half of 2024, driven by the AI boom, the US stock market surged, with the S&P 500 index reaching a record high 31 times. “AI first stock” NVIDIA also frequently appeared in the news, with its stock price soaring by 149%, entering the $3 trillion club.
At such a time, almost all technology startups are talking about AI, even if they are not focused on the AI field, they will emphasize the AI technologies they use. Well-known investment institutions such as a16z have also stopped setting up AI-related funds because artificial intelligence now plays an important role in almost all startups. As another “hotspot” that the technology industry cannot avoid in recent years, the intersection of Web3 and AI is undoubtedly a direction worth exploring. The concept of “AI enhances productivity, and Web3 changes production relationships” brings endless imagination to people.
Referring to the “Financing Weekly” column, PANews conducted a statistical analysis of the “Web3+AI projects” that obtained financing in the first half of this year. These projects applied AI technologies to varying degrees and involved infrastructure related to computing power, algorithms, data, privacy, DeFi, gaming, content creation tools, AI agents/bots, and other application categories. The following will take an inventory of a total of 64 “Web3+AI projects” that completed financing in the first half of 2024 according to this classification.
Infrastructure category: 20 projects, with the highest single financing amount reaching $85 million
Sentient
An AI research organization dedicated to building open-source AI models through community contributions, allowing users to access and contribute to the models and providing rewards based on contributions. One of Sentient’s core contributors is Sandeep Nailwal, co-founder of Polygon. It will be built on Polygon and may also develop its own chain through the Polygon Chain Development Kit (CDK). The testnet is planned to be launched in the third quarter of this year. Sentient raised $85 million in seed funding led by Founders Fund, Pantera Capital, and Framework Ventures.
io.net
A Solana ecosystem DePIN protocol aimed at aggregating GPU resources for AI and machine learning (ML) companies to build a decentralized GPU network and solve the problem of AI computing scarcity. io.net completed a $30 million Series A financing round, with Hack VC as the lead investor and participation from Multicoin Capital, Web3.com Ventures, and others.
Allora Labs
A decentralized AI network built on the Cosmos stack. It was previously named Upshot in February this year and shifted its focus from an NFT valuation platform to a decentralized AI network. Allora has raised a total of $35 million in financing.
Ritual
A decentralized AI network project. Ritual received additional investment of millions of dollars from venture capital firm Polychain Capital, with the specific amount undisclosed. It had previously completed a $25 million financing round in November 2023, with Archetype as the lead investor and participation from Accomplice and Robot Ventures.
Ora
An AI-driven blockchain project aimed at integrating AI into decentralized applications through its “on-chain AI oracle.” Ora completed a $20 million financing round with participation from Polychain, SevenX Ventures, HF0, and Hashkey Capital.
Airstack
An AI-supported Web3 developer platform that allows developers to access and utilize on-chain data through AI-supported natural language queries. Airstack has raised a total of $11 million, with investors including Superscrypt and Red Beard Ventures.
GaiaNet
A decentralized AI tool network for generating AI. GaiaNet aims to solve issues such as privacy protection, technological accessibility, and democratization of AI technology by allowing individuals worldwide to host and manage AI models on edge computing nodes. GaiaNet completed a $10 million seed financing round, with participation from EVM Capital, Mirana Ventures, and Mantle EcoFund.
ChainML
An AI research and development company supporting Web3, aiming to decentralize AI access. ChainML launched its agent-based layer called Theoriq for autonomous AI agents to complete complex tasks. ChainML raised $6.2 million in seed round expansion financing, with Hack VC as the lead investor and participation from Foresight Ventures and others.
REVOX.ai
A modular on-chain AI network. REVOX.ai combines AI technology with decentralized architecture to provide more secure and efficient AI solutions. REVOX.ai has raised $6 million, with investors including SevenX Ventures, Arweave SCP Ventures, Cointelegraph Acceleration, and 7upDAO.
Prime Intellect
A decentralized AI development platform aiming to democratize AI technology. Prime Intellect has raised $5.5 million, with joint lead investments from Distributed Global and Coinfund. The funds and resources will be used to promote global computing aggregation, distributed training framework development, and collaborative training of open AI models, among others.
NodeOps
A blockchain node management platform. NodeOps provides AI infrastructure for node operators and developers, aiming to simplify the development process and operations of Web3 protocols. NodeOps has completed a $5 million seed financing round, with L1D as the lead investor.
Tensorplex Labs
Infrastructure for decentralized AI networks, aiming to accelerate the development of open and decentralized AI networks like Bittensor. Tensorplex Labs completed a $3 million seed financing round, with lead investments from Canonical Crypto and Collab+Currency, and participation from Amber Group and others.
Hemera
A Web3 infrastructure startup. The Hemera protocol is a Web3 large-language model (LLM) operating system designed for developers, and SocialScan is a community-owned AI based on the protocol. Hemera has completed a $2.6 million seed financing round, with lead investments from LIF Capital and Nomad Capital.
PrivateAI
A decentralized AI protocol. PrivateAI has launched an AI-native distributed data platform, aiming to build the world’s first domain-specific LLM for the longevity industry. PrivateAI has completed a strategic financing round, with participation from DAO Maker. The specific financing amount has not been disclosed.
Optopia.ai
An AI Layer2 network. Optopia.ai launched its mainnet in May and aims to simplify Web3 operations and empower AI agents by using AI proxies and a token economic model to reduce user entry barriers. Optopia.ai has completed a seed financing round, with participation from G·Ventures and Kucoin Ventures.
KIP Protocol
A Web3 underlying protocol focused on AI, aiming to develop a secure and efficient decentralized Web3 underlying protocol that allows AI creators (data owners, model creators, AI application developers) to deploy their work on Web3 while preserving complete digital ownership. KIP Protocol’s strategic financing round was led by Animoca Ventures, with the specific amount undisclosed.
AINN Layer2
A Bitcoin Layer2 network project supporting decentralized AI applications on a large scale. AINN Layer2 received investment from institutions such as Amber Group.
NavyAI
A Solana-based AI model training platform dedicated to AI model training and self-learning. It provides cost-effective solutions to reduce AI bias and allows users to access and train virtual AI models through decentralized GPU resources, thus enhancing accessibility and promoting fair innovation in artificial intelligence. NavyAI has completed a seed financing round, with participation from X Ventures. The specific amount has not been disclosed.
Meson Network
A decentralized physical network. Meson Network claims to focus on DePIN+AI, and its “DePIN” nodes are developed with user-friendly technology and can accommodate various hardware, such as personal laptops, servers, IoT devices, etc. Meson Network has completed a new strategic financing round led by Presto Labs, with a valuation of $1 billion. The specific financing amount has not been disclosed.
Compute Labs
An RWA tokenization protocol based on computation assets. Compute Labs, incubated by NVIDIA Inception VC Alliance, provides AI computing power returns for investors through the development of enterprise-grade AI computing power tokenization protocol CTP and GPU restaking solutions. CTP is currently live on the Solana testnet, and the mainnet is expected to launch in the third quarter with the TGE to be completed by the end of the year.
Data category: 10 projects, with a focus on privacy and security
OpenLedger
A decentralized and permissionless data infrastructure that allows builders to create smarter and more efficient models using verifiable data. OpenLedger raised $8 million in seed funding led by Polychain Capital and Borderless Capital. The mainnet is expected to launch by the end of the year.
FLock
A Web3-native data privacy solution for AI, the “Federated Learning Blockchain” (FLocks) research project uses blockchain as a coordination platform between data holders to perform machine learning while keeping data local and private. FLock raised $6 million in seed funding, with lead investments from Lightspeed Faction and Tagus Capital, and participation from OKX Ventures and others.
Hyperline
A Web3-native data lake development company that builds shared storage and computing engines for Web3 developers to build AI products and analytical applications, supporting data applications and service capabilities. Hyperline raised $5.2 million in seed funding, with Slow Ventures as the lead investor.
Cookie3
A MarketingFi and AI data layer targeting Web3 enterprises, creators, and users. Cookie3 announced a $5.5 million token financing, with investors including The Spartan Group and Animoca Brands.
Privasea
An AI-driven data security solution that integrates FHEML into a distributed computing power crowdfunding network and combines it with self-developed Depin miners to form an FHE computing power network supporting all L1 and L2 solutions. Privasea’s strategic private placement financing was participated by OKX Ventures, Laser Digital under the Nomura Group, and Tanelabs, a Softbank-supported incubator. It also completed a $5 million seed financing round.
0xScope
A Web3 knowledge graph protocol. 0xScope has released 0xScope V2 and will focus on connecting AI with Web3 by providing data support for Web3 AI applications through its proprietary Web3 data layer. 0xScope has completed a $5 million Pre-Series A financing round, with HashKey Capital as the lead investor, and participation from OKX Ventures, GSR Markets, and others.
Ta-da
An AI data marketplace with a core model of “gamified Web3,” Ta-da has completed a $3.5 million financing round, with investors including Morningstar Ventures, MultiversX, GBV Capital, and others.
Inference Labs
A Web3 AI startup dedicated to making artificial intelligence more accessible and focusing on decentralized and privacy-centric technologies. Inference Labs has completed a $2.3 million Pre-Seed financing round, with lead investments from Digital Asset Capital Management, Delphi Ventures, and Mechanism Capital.
PublicAI
A decentralized Web3 AI training network aiming to generate a huge amount of high-quality training data using blockchain technology and allowing anyone to be rewarded by providing data contributions. PublicAI has completed a $2 million seed financing round, with participation from the Solana Foundation, Everstate Capital, and others.
AIT Protocol
An AI data infrastructure protocol. AIT Protocol launched a large-scale AI data generation network for all L1 and L2 solutions, leveraging blockchain technology and focusing on AI data generation. AIT Protocol completed a seed financing round, with participation from OKX Ventures, among others.
[img]Shi, a blockchain-based Web3 data infrastructure, is primarily used for data annotation and AI model training, allowing encrypted users to participate in tasks and contribute to the development and training of AI models while receiving rewards. Participants in the latest financing round of AIT Protocol include Animoca Brands.
DeFi has six subcategories, with a focus on driving intentions.
Aperture Finance is an AI-driven DeFi platform that simplifies DeFi operations through innovative intention-driven methods, allowing users to specify desired outcomes. Aperture Finance has raised a total of $12 million in financing, with supporters including Skyland Ventures, Blockchain Founders Fund, and Krypital Group.
Onaji is a machine learning platform on the smart contract blockchain that has established a platform for training and deploying AI models. These models can autonomously participate in DeFi on Ethereum and Layer 2. Onaji has completed a $2.5 million pre-seed financing round, with leading investment from Stratos and participation from Maven11, Uniswap Labs, and IOSG Ventures.
XRADERS is a BNB Chain-based AI-driven trading management and social platform. XRADERS has completed a $2.1 million pre-seed and seed financing round, with participation from FBG Capital.
0xGen is an AI-driven DeFi platform. 0xGen has completed strategic financing with participation from Principle68, Bella Protocol, Phoenix Chain, and others.
AgentFi is a Blast ecosystem AI-driven DeFi protocol. AgentFi’s first product, utilizing the ERC-6551 standard, provides on-chain trading services and automated services that generate revenue through NFT-bound wallet accounts. AgentFi has completed its first financing round with Generative Ventures as the lead investor.
Sharpe is an AI-driven encrypted application designed for professional traders, providing a unified platform for intelligence, investment, and automated digital asset services. Sharpe has completed a seed financing round with participation from Animoca Brands, GBV Capital, and others, without disclosing the specific amount.
There are 15 gaming and entertainment projects that combine blockchain and AI, forming a trend.
MetaCene is a Web3 MMO gaming platform that utilizes PVE and PVP gameplay, supporting guild DAO governance, sustainable economic systems, and in-game AIGC editing. MetaCene has completed a $10 million private A round of financing, led by Folius Ventures and SevenX Ventures.
Raiinmaker is building decentralized AI tools and Web3 infrastructure to support sports, gaming, and entertainment projects. Users can train AI through iOS or Android phones and receive rewards proportional to their impact on AI models. Raiinmaker has raised a total of $10 million in financing, with a $7.5 million seed round led by Jump Capital and Cypher Capital.
DeepLink is a decentralized AI cloud gaming protocol that provides ultra-low latency game rendering solutions for AAA games and cloud cafes, supporting 1ms ultra-low latency and 8K high-resolution gaming experiences through AI, blockchain, and streaming technologies. DeepLink has completed a total of $8 million in angel and A round financing, with a valuation of $100 million. Investors include Gobi Partners, Hycons, DBC, ROCK Ventures, and others.
ArenaX Labs is the developer of an AI-driven Web3 esports game AI Arena. AI Arena allows users to train their own AI characters for battles, with the outcome of each battle depending on the player’s skills in training, aiming to help users understand the operation and learning process of artificial intelligence. ArenaX Labs has completed a $6 million new financing round, led by Framework Ventures, with participation from SevenX Ventures and others.
Today is a Web3 social simulation game that is developing AI-generated smart NPCs and no-code creator tools. Today has completed a $5 million seed round of financing, led by Sfermion and Big Brain Holdings.
Studio 369 is the developer of the blockchain TV game “MetalCore.” It is developing a dynamic mission system that generates unique tasks and objectives using AI, with game testing expected to open by the end of 2024. Studio 369 has completed a $5 million new financing round this year, with investors including Delphi Digital, Bitkraft Ventures, and Sanctor Capital.
Play AI is a provider of AI and blockchain solutions for gaming and virtual reality, with platforms including Play Markets for data collection, Play Dojo for AI improvement, and Play Hub for seamless AI agent integration. Play AI has completed a $4.3 million seed round of financing, with participation from P2 Ventures, Jump Crypto, and others.
Sortium is a Web3 gaming studio focused on generative AI, offering technology that integrates AI tools into existing game development ecosystems to automate challenging content creation tasks. Sortium has raised over $4 million in financing, with leading investment from Signum Growth and participation from Cathie Wood’s ARK Investment Management LLC.
GOALAI is a Web3 soccer fantasy game that integrates the blockchain NFT with the real-world soccer community, clubs, fans, and matches, applying AI to bring potential and commercial value to Web3 soccer enthusiasts. GOALAI has raised $3 million in financing, led by IDG Capital with participation from KuCoin Ventures.
Stage is a Web3 music platform. Stage aims to provide fair rewards and deep engagement for artists and fans through Web3 integration, introducing play-to-earn models, RWA, and AI music. Stage has completed a $2.4 million financing round, with participation from Solana Foundation and others.
Cellula is a full-chain AI game that provides continuous incentives for games in the ecosystem through the vPOW asset allocation method. Cellula has completed a $2 million pre-seed financing round, co-led by SevenX Ventures and OKX Ventures. Prior to this, Cellula also received strategic investment from Binance Labs’s Pre-Seed round through the Binance Incubator program.
EventCHI is a Dutch blockchain ticketing platform that seamlessly integrates AI and blockchain, providing a unified platform for cashless payments, NFT ticketing, and intelligence. EventCHI has completed a seed financing round of over EUR 1.6 million.
Saltwater Games is a UK-based game studio and publisher composed of three game studios: Nexus Labs, Maze Theory, and Saltwater Labs. Saltwater Labs focuses on developing Web3 and AI emerging technologies. Saltwater Games has received investment from Animoca Brands.
CARV is a modular data layer focusing on the game and AI industries. As the sole author of ERC7231, CARV has built the CARV Protocol, which integrates with over 40 chains, Google Cloud, and other identity, storage, infrastructure, and AI ecosystems. CARV has received support from Vertex Ventures, ConsenSys, Tribe Capital, IOSG Ventures, HashKey Capital, Animoca Brands, and others.
Sleepless AI is a Web3+AI gaming platform. It has completed a new financing round led by Folius Ventures, with the specific amount undisclosed. According to their introduction, Sleepless AI is a winner of the Binance MVB V Accelerator and has previously received investments from Binance Labs and Foresight Ventures.
There are 13 application products, with multiple projects focusing on the creator economy.
MediConCen is a Hong Kong-based blockchain insurance technology company that digitally transforms paper-based and manual claim processes using the latest AI and blockchain technologies. MediConCen has raised $6.85 million in Series A financing, led by HSBC Investment Management, with participation from Gao Mei Capital. The total financing amount is $12.7 million.
MyShell is a Web3 AI platform focused on creators, targeting content creators and consumers, allowing the generation of AI agents or robots. MyShell has raised $11 million in a funding round led by Dragonfly.
Bluwhale is an AI Web3 startup that takes a new approach by giving control and revenue rights to wallet holders, enabling them to decide whether they want to interact with marketers and monetize their information. Bluwhale has completed a $7 million seed round of financing, led by SBI.
Adot is a decentralized AI search engine. Adot (a.xyz) has raised a total of $6 million in financing, with participation from Hash Global, SevenX Ventures, Mask Network, and others.
Sahara is a decentralized AI network that is trustless, permissionless, and privacy-centric, allowing individuals and businesses to create customized autonomous knowledge agents (Sahara KAs) that enable everyone to leverage their knowledge capital for monetization and automation opportunities through AI. Sahara has completed a $6 million seed round of financing, led by Polychain Capital, with participation from Samsung Next and others.
YogaPetz is a decentralized mind-body-spirit ecosystem combined with AI. YogaPetz has raised over $5 million in funding from seed rounds and NFT sales, with the seed round led by Animoca Brands, Newman Group, and Soul Capital Partners.
SOAI is an AI social platform that focuses on reshaping the virtual companion industry ecosystem through advanced AI technology, creating customized AI soul companions for billions of people worldwide. SOAI has completed a $5 million institutional angel round of financing, with $3 million invested by Archer Capital and $2 million by XForce Capital.
Bythen is a human-machine interaction AI protocol that is building an artificial intelligence product protocol to create autonomous AI-driven 3D avatar agents. Bythen has completed a $3 million seed round of financing, with participation from East Ventures, BEENEXT, and others.
Talus Network is a blockchain platform focused on decentralized AI, which aims to nurture a diverse ecosystem of intelligent agents for decentralized applications, emphasizing security, speed, and enhanced developer experience using the powerful capabilities of Move. Talus Network has raised $3 million in financing, led by Polychain Capital, with participation from dao5 and others.
SmartLoC is a B2B payment solution based on blockchain and AI, focusing on optimizing the way enterprises conduct financial transactions globally using technologies such as IoT, blockchain, and AI. SmartLoC has raised €1.8 million in financing, led by High-Tech Gründerfonds (HTGF).
imgnAI is an encrypted AI platform that launched its image generation robot platform at the end of 2022. The imgnAI encrypted token on its website is used to unlock advanced features and directly mint images as NFTs. imgnAI has completed a $1.6 million seed round of financing, led by Hack VC.
LinkTo is a Web3 traffic aggregation marketing platform that aims to provide a platform for brands and advertisers to accurately target and effectively reach their target audience through the introduction of advanced traffic technology and AI algorithms, while ensuring data security and user privacy. LinkTo has completed a seed round of financing, with participation from Adaverse and others.
Creator.bid is a blockchain and AI-driven digital content monetization and ownership platform that enables content creators to build AI-driven digital assets to monetize their content and manage their work and income with enhanced autonomy. The financing amount of Creator.bid has not been disclosed, with investors including Mechanism Capital.
