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Nodepay, a decentralized AI platform, has managed to secure $7 million in funding to improve its real-time data infrastructure in a move to transform unused internet bandwidth into valuable resources for AI training and development.
About Nodepay
Nodepay is a company founded in 2023, focused on democratizing AI by allowing users to monetize their unused internet bandwidth. The platform enables people to contribute to the development of AI by sharing their spare bandwidth, participating in real-time data retrieval, engaging in reinforcement learning, and assisting in human verification processes. This collective effort creates a decentralized network that supplies real-time data needed for AI training and inference.
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Funding Details
The recent funding round attracted several prominent investors, including:
- IDG Capital: With $23 billion in assets under management, IDG Capital’s investment signifies strong confidence in Nodepay’s vision.
- Mythos: A venture capital firm known for backing innovative tech startups.
- Elevate Ventures: An organization committed to supporting high-growth companies.
- IBC: An investment firm focusing on disruptive technologies.
- Optic Capital: A venture capital firm investing in transformative tech solutions.
- Funders.VC: A venture capital firm supporting early-stage startups.
Matthew Tan is the founder of Etherscan, the leading Ethereum block explorer.
Yusho Liu is co-founder and CEO of CoinHako, one of the most popular cryptocurrency exchanges.
These investors join a long list of previous investors, including Animoca Brands, Mirana, OKX Ventures, JUMP Crypto, and Tokenbay Capital.
Nodepay’s Innovative Approach
Nodepay operates on a global community of user-run, privacy-protected nodes. Participants can make rewards by sharing spare internet bandwidth while contributing to the real-time data source used to enhance AI inference in terms of accurate, on-time information—a retrieval method known as Retrieval Augmented Generation (RAG).
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The infrastructure of this platform involves several novel technologies:
- Real-Time Data Retrieval Systems: The platforms enable immediate access to real-time information, which would be crucial for the training and inference of AI models.
- A decentralized answer engine, focused on Web3 principles: provides a distributed architecture of AI-based answers.
- Reinforcement learning : enhance AI model outputs using feedback from the users, thus, doing iterative learning processes
- Human verification games to ensure that the quality of data as well as the integrity are in line, and involve interactive ways for verification.
Darren Nguyen, Nodepay co-founder, said: “Our goal is to create solutions that bring real value not only for AI developers but also for end-users. We give contributors a stake in the AI ecosystem they are helping to build.”
Investor Insights
Eric Le, an Investment Director at IDG Capital said, “Nodepay democratizes the AI economy through the platform to let the users take a direct role in the value they are generating. It is wonderful to support this mission towards making AI better and helpful to all.”
Prospects in Future
After the current round of investment, Nodepay intends to:
- Push the Commercialization: Drive forward its development and deploy the infrastructure built to aid contributors and other partner AI laboratories.
- It aims to expand its global network of over 1.5 million active users from over 180 countries around the world.
- Launch on Solana Blockchain: Set to integrate with the Solana blockchain to increase platform efficiency and scalability.
The Nodepay approach is groundbreaking in positioning it at the helm of the AI decentralization movement, making AI accessible and beneficial for all involved.
Summary
Nodepay, a decentralized AI platform founded in 2023, has successfully secured $7 million in funding to enhance its real-time data infrastructure. By allowing users to monetize unused internet bandwidth, Nodepay is building a decentralized network that supports AI training and development through real-time data retrieval, reinforcement learning, and human verification. Backed by prominent investors like IDG Capital and Animoca Brands, Nodepay plans to expand its user base and launch on the Solana blockchain to scale its innovative AI solutions. This funding positions Nodepay as a key player in making AI more accessible and beneficial to all.