Inventory of 64 "Web3+AI" projects that completed financing in the first half of 2024, with over half focusing on infrastructure and gaming entertainment

Author: Zen, PANews

In the first half of 2024, driven by the AI boom, the U.S. stock market surged, with the S&P 500 index setting 31 new closing record highs. The "first AI stock," Nvidia, frequently made headlines, with its stock price soaring by 149%, entering the $3 trillion club.

At this opportune moment, tech startups almost invariably mention AI; even if they are not focused on the AI field, they will emphasize which AI technologies they have applied. Notable investment institutions like a16z have stopped setting up dedicated AI-related funds, as artificial intelligence now plays a crucial role in almost all startups. As another "hot topic" that cannot be overlooked in the tech industry in recent years, the intersection of Web3 and AI is undoubtedly a direction worth exploring, with the idea that "AI enhances productivity, and Web3 changes production relationships" sparking endless imagination.

Referring to the "Financing Weekly" column, PANews has compiled statistics on "Web3 + AI projects" that received funding in the first half of this year. These projects apply artificial intelligence technology to varying degrees, involving infrastructure for computing power and algorithms, data and privacy, DeFi, gaming and other entertainment products, as well as applications providing content creation tools, AI agents/bots, and more. The following will review a total of 64 "Web3 + AI projects" that completed financing in the first half of 2024 according to this classification.

20 Infrastructure 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 models and providing rewards based on contributions. One of Sentient's core contributors is Sandeep Nailwal, co-founder of Polygon, and it will be built on Polygon, potentially creating its own chain through the Polygon Chain Development Kit (CDK), with plans to launch a testnet in the third quarter of this year. Sentient raised $85 million in a seed round led by Founders Fund, Pantera Capital, and Framework Ventures.

io.net

A DePIN protocol in the Solana ecosystem, aimed at aggregating GPU resources for AI and machine learning companies, with the goal of establishing a decentralized GPU network and addressing the AI computing shortage. io.net completed a $30 million Series A financing round, led by Hack VC, with participation from Multicoin Capital, Web3.com Ventures, and others.

Allora Labs

A decentralized AI network built on the Cosmos stack as an L1 blockchain. It was renamed from Upshot to Allora in February this year and shifted from an NFT evaluation platform to a decentralized AI network. Allora's total financing has reached $35 million.

Ritual

A decentralized AI network project, Ritual received additional investment of millions of dollars from venture capital firm Polychain Capital this year, with the specific amount undisclosed. Previously, it completed a $25 million financing round in November 2023, led by Archetype, with 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-powered Web3 developer platform that allows developers to access and utilize on-chain data using AI-supported natural language requests. Airstack has raised a total of $11 million, with investors including Superscrypt and Red Beard Ventures.

GaiaNet

A network for decentralized generative AI tools. By allowing individuals worldwide to host and manage AI models on edge computing nodes, GaiaNet aims to address issues such as privacy protection, technological accessibility, and the democratization of AI technology. GaiaNet completed a $10 million seed round, with participants including EVM Capital, Mirana Ventures, and Mantle EcoFund.

ChainML

An AI R&D company supporting Web3, aimed at decentralized AI access. It launched a foundational layer called Theoriq for autonomous AI agents to complete complex tasks. ChainML raised $6.2 million in an expanded seed round, led by Hack VC, with participation from Foresight Ventures and others.

REVOX.ai

A modular on-chain AI network. REVOX.ai is committed to combining AI technology with decentralized architecture to provide safer and more 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 aimed at democratizing AI technology. Prime Intellect has raised $5.5 million, co-led by Distributed Global and Coinfund. The funds and resources will be used to promote its global computing aggregation, distributed training framework development, and collaborative training of open AI models.

NodeOps

A blockchain node management platform. NodeOps provides AI infrastructure for node operators and developers, aimed at simplifying the development process and operations of Web3 protocols. NodeOps has completed a $5 million seed round, led by L1D.

Tensorplex Labs

Infrastructure for decentralized AI networks, aimed at accelerating the development of open, decentralized AI networks like Bittensor. Tensorplex Labs completed a $3 million seed round, led by Canonical Crypto and Collab+Currency, with participation from Amber Group and others.

Hemera

A Web3 infrastructure startup, its Hemera protocol is an operating system for large language models (LLM) designed for developers, with SocialScan being a community-owned AI based on this protocol. Hemera has completed a $2.6 million seed round, led by LIF Capital and Nomad Capital.

PrivateAI

A decentralized AI protocol. PrivateAI launched an AI-native distributed data platform aimed at building the world's first domain-specific large language model (LLM) for the longevity industry. PrivateAI has completed strategic round financing, with participation from DAO Maker and others, with the specific financing amount undisclosed.

Optopia.ai

An AI Layer2 network. Optopia.ai launched its mainnet in May, aiming to simplify Web3 operations through AI agents, lowering the entry barrier for users, and empowering AI agents through a token economic model. Optopia.ai has completed a seed round financing, with participation from G·Ventures and Kucoin Ventures.

KIP Protocol

A Web3 underlying protocol focused on AI, aimed at developing 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, thus retaining complete digital ownership. KIP Protocol's strategic round financing was led by Animoca Ventures, with the amount undisclosed.

AINN Layer2

A Bitcoin Layer 2 network project supporting decentralized AI large-scale applications, AINN Layer2 has received investment from Amber Group and others.

NavyAI

An AI model training platform on the Solana chain, dedicated to AI model training and self-learning, providing cost-effective solutions to reduce AI bias, allowing users to access and train virtual AI models through decentralized GPU resources to enhance AI accessibility and fair innovation. NavyAI has completed a seed round financing, with participation from X Ventures and others, with the amount undisclosed.

Meson Network

A decentralized physical network. Meson Network claims to focus on DePIN + AI, with its "DePIN" nodes developed using user-friendly technology that can accommodate various hardware, such as personal laptops, servers, IoT devices, and more. Meson Network was valued at $1 billion in a new round of strategic financing led by Presto Labs, with the specific financing amount undisclosed.

Compute Labs

A RWA tokenization protocol based on computing as an asset. Compute Labs was incubated by the NVIDIA Inception VC Alliance, providing AI computing yield for investors through the development of an enterprise-grade AI computing tokenization protocol (CTP) and GPU Restaking solutions. Currently, CTP has launched on the Solana testnet, with the mainnet expected to launch in the third quarter and complete TGE by the end of the year.

10 Data Projects, Many Focused on Privacy Security

OpenLedger

A decentralized and permissionless data infrastructure that enables builders to create smarter and more efficient models using verifiable data. OpenLedger raised $8 million in a seed round led by Polychain Capital and Borderless Capital. The mainnet is expected to launch by the end of the year.

FLock

An AI-native Web3 data privacy solution, its "Federated Learning Block" (abbreviated as FLocks) research program uses blockchain as a coordination platform among data holders, allowing machine learning while keeping data local and private. FLock raised $6 million in a seed round, led by Lightspeed Faction and Tagus Capital, with participation from OKX Ventures and others.

Hyperline

A Web3-native data lake development company, primarily building shared storage and computing engines for Web3 developers to construct AI products and analytical applications, supporting data applications and service functionalities. Hyperline completed a $5.2 million seed round, led by Slow Ventures.

Cookie3

A MarketingFi and AI data layer aimed at Web3 businesses, creators, and users. Cookie3 announced it has secured $5.5 million in token financing, with investors including The Spartan Group, Animoca Brands, and others.

Privasea

An AI-driven data security solution that integrates FHEML into a distributed computing crowdfunding network, combined with self-developed Depin mining machines, forming an FHE computing network that supports all L1 and L2. Privasea's strategic private placement financing was supported by OKX Ventures, Nomura Group's Laser Digital, and SoftBank-backed incubator Tanelabs, and it also completed $5 million in seed round financing.

0xScope

A Web3 knowledge graph protocol that has released 0xScope V2, with a future focus on providing data support for Web3 AI applications through a proprietary Web3 data layer, connecting AI with Web3 in the process. 0xScope completed $5 million in Pre-Series A financing, led by HashKey Capital, with participation from OKX Ventures, GSR Markets, and others.

Ta-da

An AI data marketplace centered on a "gamified Web3" application model, Ta-da has completed $3.5 million in financing, with investors including Morningstar Ventures, the Layer 1 blockchain protocol MultiversX, GBV Capital, and others.

Inference Labs

A Web3 AI startup dedicated to making artificial intelligence more accessible, focusing on decentralized and privacy-centric technologies. Inference Labs completed $2.3 million in Pre-Seed financing, led by Digital Asset Capital Management, Delphi Ventures, and Mechanism Capital.

PublicAI

A decentralized AI training network for Web3, aimed at generating vast amounts of high-quality training data on a large scale using blockchain technology, allowing anyone to earn rewards by providing data works. PublicAI completed $2 million in seed round financing, with participation from Solana Foundation and Everstate Capital.

AIT Protocol

An AI data infrastructure built on blockchain, primarily used for data annotation and AI model training, allowing crypto users to earn rewards while participating in tasks and contributing to AI model development and training. AIT Protocol's new round of financing included participation from Animoca Brands and others.

6 DeFi Projects, Primarily Intent-Driven

Aperture Finance

An AI-driven DeFi platform that simplifies DeFi operations through an innovative intent-driven approach, allowing users to specify desired outcomes. Aperture Finance's total financing has reached $12 million, with supporters including Skyland Ventures, Blockchain Founders Fund, and Krypital Group.

onaji

A machine learning platform for smart contract blockchains, which has established a platform for training and deploying AI models that can autonomously participate in DeFi on Ethereum and Layer 2. onaji completed $2.5 million in Pre-Seed financing, led by Stratos, with participation from Maven11, Uniswap Labs, IOSG Ventures, and others.

XRADERS

An AI-driven trading management and social platform on the BNB Chain. XRADERS has completed $2.1 million in Pre-Seed and seed round financing, with participation from FBG Capital and others.

0xGen

An AI-driven DeFi platform. 0xGen has completed strategic financing, with participation from Principle68, Bella Protocol, Phoenix Chain, and others.

AgentFi

An AI-driven DeFi protocol in the Blast ecosystem. AgentFi's first product utilizes the ERC-6551 standard, providing on-chain trading services and automated services that can generate returns through NFT-bound wallet accounts. AgentFi has completed its first round of financing, led by Generative Ventures.

Sharpe

An AI-driven crypto application designed for professional traders, providing a unified platform for smart investments and automated digital assets. Sharpe has completed seed round financing, with participation from Animoca Brands, GBV Capital, and others, with the specific amount undisclosed.

15 Gaming and Entertainment Projects, AI Integration in Chain Games is a Trend

MetaCene

A Web3 MMO gaming platform that employs PVE and PVP gameplay, supporting features like guild DAO governance, sustainable economic systems, and in-game AIGC editing. MetaCene completed $10 million in private A round financing, led by Folius Ventures and SevenX Ventures.

Raiinmaker

Raiinmaker is building decentralized AI tools and Web3 infrastructure to support sports, gaming, and entertainment projects. Users can train AI using iOS or Android phones and earn rewards proportional to their influence on the AI models. Raiinmaker's total financing has reached $10 million, with $7.5 million in seed round financing co-led by Jump Capital and Cypher Capital.

DeepLink

A decentralized AI cloud gaming protocol providing ultra-low latency game rendering solutions for AAA games and cloud gaming cafes, supporting 1ms ultra-low latency and 8K high-resolution gaming experiences through AI, blockchain, and streaming technology. DeepLink completed a total of $8 million in angel and Series A financing, with a valuation of $100 million, backed by Gobi Ventures, Hycons, DBC, ROCK Ventures, and others.

ArenaX Labs

An AI-driven Web3 competitive gaming developer for AI Arena. AI Arena allows users to train their AI characters for battles, with the outcome of each battle depending on the player's skills during training, aimed at helping users understand how AI operates and learns. ArenaX Labs completed $6 million in a new round of financing, led by Framework Ventures, with participation from SevenX Ventures and others.

Today

A Web3 social simulation game currently developing generative AI-based smart NPCs and no-code creator tools. Today completed $5 million in seed round financing, led by Sfermion and Big Brain Holdings.

Studio 369

The developer of the blockchain video game "MetalCore," which is developing a dynamic task system that utilizes AI to generate unique tasks and objectives, expected to open game testing by the end of 2024. Studio 369 completed $5 million in a new round of financing this year, with investors including Delphi Digital, Bitkraft Ventures, and Sanctor Capital.

Play AI

A provider of AI and blockchain solutions focused on gaming and virtual reality, with platforms including Play Markets for data collection, Play Dojo for AI improvements, and Play Hub for seamless AI agent integration. Play AI has completed $4.3 million in its first round of financing, with participation from P2 Ventures, Jump Crypto, and others.

Sortium

A Web3 gaming studio focused on generative AI, providing technology that integrates AI tools into existing game production ecosystems, automatically executing challenging content creation tasks. Sortium has completed over $4 million in financing, led by Signum Growth, with participation from ARK Investment Management LLC and others.

GOALAI

A Web3 football fantasy game dedicated to integrating blockchain NFTs with the real-world football community, clubs, fans, and matches, applying AI to bring potential and commercial value to Web3 football enthusiasts. GOALAI has completed $3 million in financing, led by IDG Capital, with participation from KuCoin Ventures and others.

Stage

A Web3 music platform. Stage aims to integrate Web3 to ensure fair compensation and deep participation for artists and fans, introducing a play-to-earn model, RWA, and AI music. Stage has completed $2.4 million in financing, with participation from the Solana Foundation and others.

Cellula

A full-chain AI game that uses a virtual proof of work (vPOW) asset distribution method to provide continuous incentives for games within the ecosystem. Cellula completed $2 million in Pre-Seed financing, co-led by SevenX Ventures and OKX Ventures; previously, Cellula also received strategic investment from Binance Labs in the Binance incubator project during its Pre-Seed round.

EventCHI

A blockchain ticketing platform from the Netherlands. By seamlessly integrating AI and blockchain, EventCHI provides a unified platform for cashless payments, NFT ticketing, and smart services. EventCHI has completed over €1.6 million in seed round financing.

Saltwater Games

A UK-based game studio and publisher composed of three game studios: Nexus Labs, Maze Theory, and Saltwater Labs, with Saltwater Labs focusing on developing emerging technologies in Web3 and AI. It has received investment from Animoca Brands.

CARV

A modular data layer focused on the gaming and AI industries. As the sole author of ERC7231, CARV has built the CARV Protocol and integrated with over 40 chains, Google Cloud, and other identity, storage, infrastructure, and AI ecosystems. It has received support from Vertex Ventures, ConsenSys, Tribe Capital, IOSG Ventures, HashKey Capital, Animoca Brands, and others.

Sleepless AI

A Web3 + AI gaming platform that has completed a new round of financing led by Folius Ventures, with the specific amount undisclosed. According to its introduction, Sleepless AI is a winner of the Binance MVB V accelerator, having previously received investment from Binance Labs and Foresight Ventures.

13 Application Products, Many Focused on the Creator Economy

MediConCen

A Hong Kong blockchain insurtech company primarily utilizing the latest artificial intelligence (AI) and blockchain technology to digitize paper and manual claims processes. MediConCen completed $6.85 million (approximately HKD 53.43 million) in Series A financing, led by HSBC Asset Management, with participation from Gao Mei Capital and others, bringing its total financing to $12.7 million.

MyShell

A Web3 AI platform focused on creators, primarily targeting content creators and consumers, allowing the generation of AI agents or bots. MyShell raised $11 million in a financing round led by Dragonfly.

Bluwhale

An AI Web3 startup, Bluwhale adopts a new approach that gives control and revenue rights to wallet holders, enabling them to decide whether to interact with marketers and monetize their information. Bluwhale completed $7 million in seed round financing, led by SBI.

Adot

A decentralized AI search engine. Adot (a.xyz) has raised a total of $6 million, with participation from Hash Global, SevenX Ventures, Mask Network, and others.

Sahara

A decentralized AI network that is trustless, permissionless, and privacy-centric, creating customized autonomous knowledge agents (Sahara KA) for individuals and businesses, allowing everyone to leverage their knowledge capital to explore monetization and automation opportunities through AI. Sahara completed $6 million in seed round financing, led by Polychain Capital, with participation from Samsung Next and others.

YogaPetz

A decentralized mind-body ecosystem combining AI, YogaPetz has raised over $5 million from seed round financing and NFT sales, with seed round financing co-led by Animoca Brands, Newman Group, and Soul Capital Partners.

SOAI

An AI social platform aimed at reshaping the virtual companion industry ecosystem through advanced AI technology, creating customized AI soulmates for billions of people worldwide. SOAI has completed $5 million in institutional angel round financing, with Archer Capital investing $3 million and XForce Capital investing $2 million.

Bythen

A human-computer interaction AI protocol that is building an AI product protocol to create autonomous AI-driven 3D avatar agents. Bythen has completed $3 million in seed round financing, with participation from East Ventures, BEENEXT, and others.

Talus Network

A blockchain platform focused on decentralized AI, designed to leverage the powerful capabilities of Move, emphasizing security, speed, and enhanced developer experience, fostering a diverse ecosystem of intelligent agents for decentralized applications. Talus Network completed $3 million in financing, led by Polychain Capital, with participation from dao5 and others.

SmartLoC

A B2B payment solution based on blockchain and AI, focusing on optimizing the way businesses conduct financial transactions globally using technologies like IoT, blockchain, and artificial intelligence. SmartLoC has completed €1.8 million in financing, led by High-Tech Gründerfonds (HTGF).

imgnAI

A crypto AI platform, the image generation robot platform launched at the end of 2022, with its imgnAI crypto token on the website used to unlock premium features and mint images directly as NFTs. The crypto AI platform imgnAI completed $1.6 million in seed round financing, led by Hack VC.

LinkTo

A Web3 traffic aggregation marketing platform, aiming to provide brands and advertisers with a platform that can accurately target and effectively reach their desired audience while ensuring data security and user privacy through advanced traffic technology and AI algorithms. LinkTo has completed seed round financing, with participation from Adaverse and others.

Creator.bid

A blockchain and AI-driven digital content monetization and ownership platform that supports content creators in building AI-driven digital assets for monetization and writing management, also providing tools to enhance creators' autonomy over their work and income management. The financing amount for Creator.bid is undisclosed, with investors including Mechanism Capital and others.