Inventory of 6 crypto projects that joined NVIDIA's "NVIDIA Inception" startup incubator program

Author: Jiang Haibo, PANews

NVIDIA's GPUs and AI chips dominate the training of AI models. After releasing its Q1 financial report this year, NVIDIA became the first chip company to surpass a market capitalization of $1 trillion, and the 7th company to achieve this milestone after Meta, Amazon, Microsoft, Alphabet, Apple, and Tesla.

What projects in the crypto market are associated with NVIDIA? NVIDIA has a startup incubation program—NVIDIA Inception, aimed at supporting and accelerating startups in the fields of artificial intelligence and data science, providing resources and support including technical guidance, deep learning training, hardware and software support, marketing, and business networking. Below, PANews will review the crypto-native projects that have joined the NVIDIA Inception program.

Flux

Flux is a blockchain network that adapts its consensus from the "proof of work" mechanism and plans to launch a "proof of useful work" (PoUW) mechanism in the third quarter of this year.

Miners in Flux use GPU hardware to secure the network, and in return, they earn block rewards. At the same time, miners can utilize their GPU mining rigs for compute-intensive tasks such as AI, deep virtual detection, rendering, etc., generating additional income. Miners can automatically switch between mining and on-demand PoUW tasks to optimize profitability.

Flux joined the NVIDIA Inception program in January 2022 and also uses NVIDIA Jetson edge AI platform modules as nodes in the Flux network.

As of June 16, the market capitalization of Flux's native token FLUX is $120 million.

iExec

iExec has developed a decentralized computing resource marketplace where users can buy and sell computing resources, turning cloud computing capabilities into commodities. Users can access GPU computing resources from multiple providers on demand through the iExec cloud marketplace, which is particularly important in fields requiring high computational demands such as AI and deep learning.

The project joined the NVIDIA Inception program in October 2022, hoping to gain expertise and experience in GPU computing.

iExec issues the token RLC, currently with a total market capitalization of $104 million.

Shapeyard

Shapeyard builds an interactive content creation tool for the metaverse to create 3D digital assets and bring them into the Web3 economy, allowing users to exchange and integrate their created 3D digital assets in virtual spaces. The development company behind it, Magic Unicorn, is a venture studio based in New York, also engaged in software development in computer graphics, mobile AI, and augmented reality.

Shapeyard has developed a mobile application that includes various 3D models, texture tools, and 3D marketplace models. It uses a "what you see is what you get" approach, allowing users to generate digital assets through simple placement and color filling, and the application also allows designers to import created models into 3D printing software.

Shapeyard joined the NVIDIA Inception program in October 2022, hoping to integrate its products into the NVIDIA Omniverse platform to build 3D digital assets and export scenes using a universal scene description file framework.

Currently, Shapeyard's NFT minting and trading features are under development.

dotmoovs

dotmoovs is a Move to Earn project aimed at creating a world where athletes, coaches, and fans can compete together. dotmoovs' AI system detects users' bodies, evaluates limb movements individually, and scores them. Additionally, dotmoovs provides AI-driven coaching to help users improve their performance issues.

dotmoovs joined the NVIDIA Inception program in June this year, hoping to shape the future of sports through cutting-edge AI solutions.

dotmoovs issues the token MOOV, currently with a total market capitalization of $4.81 million.

Kondux

Kondux builds a feature-rich platform that combines blockchain technology with 3D assets, allowing users to view, create, and deploy digital assets. Users can customize and view 3D kNFTs through a 3D viewport, buy, sell, and trade in the NFT marketplace, view their assets in AR form through an XR viewer, use an NFT minting tool to upload their digital assets and create NFTs or kNFTs, and view NFTs in a 3D NFT gallery environment by connecting their wallets.

Kondux joined the NVIDIA Inception program in September 2022, and NVIDIA Omniverse-related hardware and software will provide Kondux with the tools needed to achieve advanced API connectivity for creating interoperable 3D assets, manufacturing models, and machine learning applications.

Kondux issues NFTs and ERC-20 token KNDX, currently with a total market capitalization of $1.94 million.

Ubex

Ubex is a platform that leverages blockchain and AI technology to improve the digital advertising industry, aiming to provide more efficient, transparent, and precise advertising solutions. It connects advertisers and advertisers through a decentralized advertising ecosystem and ensures the verifiability and security of advertising transactions through smart contracts.

Ubex joined the NVIDIA Inception program in June 2018, hoping to leverage NVIDIA's extensive knowledge in data science to enhance neural network learning techniques.

Ubex issues the token UBEX, but its total market capitalization is currently only $154,000.

Summary

Among the projects mentioned above, Flux and iExec, which engage in GPU computing power trading, are developing relatively well. With the advancement of AI, there may be a demand for decentralized GPU computing power markets. However, there are not many intersections between the metaverse, NFT projects, and GPUs, and their value has clearly returned in the current bear market environment.

It should be noted that there are numerous projects that have joined the NVIDIA Inception program, and there may be omissions. This does not imply that these projects have deep collaborations with NVIDIA, and investors should exercise caution and make their own risk assessments.