Quick take:
- Other investors in the round include Node Capital, Arrington Capital, ZK Ventures, WAGMI Ventures, BlockBuilders and Maelstrom.
- The YeagerAI team has built technology dubbed “intelligent contracts”, blockchain-based systems that leverage LLMs connected to the internet to execute commands.
- GenLayer enables developers to build apps that can respond to changing situations like the weather and financial markets, the company wrote in a press release on Tuesday.
Web3 AI startup YeagerAI has raised $7.5 million in a seed round led by North Island Ventures with participation from Node Capital, Arrington Capital, ZK Ventures, WAGMI Ventures, BlockBuilders and Arthur Hayes’s Maelstrom.
YeagerAI is leveraging blockchain technology to build a decentralised AI network called GenLayer. The team behind GenLayer has built technology dubbed “intelligent contracts”, blockchain-based systems that leverage LLMs connected to the internet to execute commands.
According to the announcement, GenLayer enables developers to build apps that can respond to changing situations like the weather and financial markets.
AI models rely on information obtained from human activity and real-world data to learn and be more efficient. Node Capital partner Amos Meiri believes there are limitations to gaining access to such resources, especially in a changing environment.
GenLayer co-founder Albert Castellana said that merging AI with blockchain technology unlocks tools that enable “consensus on subjective decisions,” citing the deterministic computation that today’s AI models rely on, which means specific inputs always lead to the same outputs.
GenLayer allows AI models to respond to information online, thus allowing developers to build adaptive apps.
The company has also developed a proprietary proof-of-stake algorithm, allowing a lead validator to propose an output, which is then voted for by other validators connected to different large language models (LLMs).
“A majority vote is needed to decide whether to process the transaction; otherwise, it’s rejected, and the process starts again,” a statement on the GenLayer website reads.
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