The AI-focused Web3 underlying protocol KIP Protocol has completed a strategic round of financing, led by Animoca Ventures

Hong Kong, February 1, 2024 ------ The AI-focused Web3 underlying protocol KIP Protocol has successfully completed a strategic financing round led by Animoca Ventures.

KIP Protocol builds a secure and efficient Web3 underlying protocol that enables AI creators (data owners, model developers, AI application creators) to:

• Deploy their work on Web3, thereby retaining full digital ownership
• Interact and trade with other AI assets
• Generate revenue without losing access control

AI app developers using KIP Protocol can easily create decentralized apps connected to various models (both on-chain and off-chain), extract data from decentralized knowledge bases to provide retrieval-enhanced generative services, and automatically allocate user revenue transparently to all on-chain contributors. An early alpha version of the KIP Protocol code won an award at the Chainlink 2023 Fall Hackathon.

The core goal of KIP Protocol is to build a diverse business ecosystem composed of different partners (data owners, model developers, AI application creators) and help them achieve free collaboration or production creation based on KIP Protocol, breaking free from the growing AI monopoly of tech giants.

This round of financing led by Animoca Ventures also attracted diverse participation from investment DAOs, Web3 community leaders, and funds from various regions, including B. Army (Vietnam), CSP DAO (Europe, Middle East, and Africa), MQdao, Spicy Capital (Latin America), Skyvision Capital (Hong Kong), and Purechain Capital (UK). This also reflects KIP Protocol's efforts to push its underlying protocol to AI creators and Web3 users around the world.

Project Vision: Promoting AI Decentralization

KIP Protocol aims to protect the digital ownership of AI creators through Web3, providing a fair monetization path for every AI creator.

James Ho, head of Animoca Ventures, commented: "KIP Protocol aims to provide a more competitive and equitable business environment for all AI creators, aligning closely with Animoca's vision of building a fairer internet based on true digital ownership. Animoca Ventures is committed to finding and supporting innovative new teams in the Web3 space, and the KIP Protocol team has extensive practical experience in AI technology, Web3, and commercialization exploration. We are pleased to be their early supporters."

Dr. Jennifer Dodgson, Chief AI Scientist and Co-founder of KIP Protocol, commented: "We believe that the speed of AI development can be accelerated through inexpensive, small-scale experiments and evolutionary improvements. With the help of Animoca Ventures, our goal is to create a future where everyone has the potential to build the next GPT."

Julian Peh, CEO and Co-founder of KIP Protocol, added: "AI may be the most powerful technological force driving human progress in the future. Not just tech giants, but each of us should be able to reap economic benefits from the AI-driven era. The birth of KIP Protocol is to provide a fair, efficient, and healthy business ecosystem for all AI creators. We are grateful to Animoca Ventures and our global team of investors for their support of our mission."

KIP Protocol is building a three-layer architecture supported by the $KIP token to protect the digital ownership of all key stakeholders (data owners, model developers, AI application creators) and enable them to monetize safely, reliably, and efficiently, thus becoming a catalyst for the decentralized AI wave.

The first dApp on KIP Protocol is planned to launch in the first or second quarter of 2024.

About KIP Protocol

KIP Protocol builds a Web3 underlying protocol for AI app developers, model creators, and data owners, enabling AI assets to be easily deployed and monetized while retaining full digital ownership.

KIP will establish a new AI business ecosystem to address the issues and challenges faced in decentralized AI deployment and ensure that everyone can enjoy the economic benefits brought by AI.

The KIP team consists of senior PhDs and technical experts dedicated to AI research since 2019, who also have a strong professional background and rich experience in the Web3 field, committed to promoting AI decentralization and becoming a catalyst for the decentralized AI wave.

To learn more, please visit www.kip.pro or follow them on X @KIPProtocol

For media inquiries, please contact press@kip.pro

About Animoca Ventures

Animoca Ventures is the venture capital arm of global industry investment giant Animoca Brands, focusing on the forefront of Web3 to find, fund, and support builders who will become the future giants of the internet.