Network3 establishes a $10 million mining fund to support ecological growth
ChainCatcher news, the decentralized Edge AI infrastructure platform Network3 officially announced the establishment of a $10 million mining fund, co-hosted by the DePINX Super Node Alliance with initial funding. The aim is to promote a fairer, more efficient, and lower-cost AI development. It is reported that the fund will be used to support outstanding projects and teams within the ecosystem, including areas such as technology research and development, application implementation, and community operations, attracting more institutions to participate in POS staking mining.The fund will mainly be used for the following aspects:Technology Research and Development: To cultivate projects deployed in the Network3 mining ecosystem, focusing on three major directions: "energy-saving," "efficient," and "secure" for technological iteration, collectively leveraging the advantages of the decentralized Edge AI network to enhance usability;Application Implementation: To provide one-stop services covering industry research, product development, business expansion, and application commercialization, assisting in product implementation;Community Operations: To attract outstanding market and operational talents, plan market expansion and operational activities, and promote community-scale growth.As a leader in continuous construction within the industry, Network3 is committed to technological innovation and application promotion in the Edge AI field. By introducing a high-performance computing power network, Network3 provides users and developers with a fairer, more transparent, and efficient computing power trading platform, exploring a new paradigm for the AI computing resource market.Since its establishment, Network3 has achieved significant results in the DePIN and AI tracks, with over 620,000 global nodes covering 188 countries. By building a high-performance computing power network and massive user Edge Data, it has completed the commercial monetization loop for both supply and demand sides.Previously, the $N3 token was launched for spot trading on exchanges such as Bybit, Gate.io, and BingX at 16:00 Beijing time on January 22.Network3 completed a $5.5 million pre-seed & seed round financing on July 23, 2024. Investors include well-known VCs such as Borderless, EV3 Labs, IoTeX, SNZ, Bing Ventures, Waterdrip Capital, and Web3port Foundation.