Blockchain startup aelf has launched a new $50 million ecosystem fund aimed at prioritizing the integration of artificial intelligence into blockchain.

Singapore-based blockchain ecosystem aelf is launching a new multi-million dollar initiative to transform from a decentralized network into a “vibrant ecosystem with state-of-the-art AI models.”

In an April 12 blog announcement, the aelf team said its investment arm, aelf Ventures, will “strategically deploy” its $50 million Ecosystem Fund to support “innovative AI initiatives seeking blockchain support.”

“aelf will further catalyze this AI blockchain innovation with the launch of developer-friendly toolkits, enabling the community to leverage these new technologies for data pre-processing, model training, fine-tuning and deployment, agent development, on-chain deployment, and monetization using the aelf blockchain environment.”

aelf Team

While funding criteria have yet to be announced, the announcement suggests that current projects and games on the aelf blockchain are preparing to incorporate AI capabilities, reflecting growing corporate interest in the synergy of blockchain and AI.

As previously reported by crypto.news, Aptos Labs, the company behind the Aptos blockchain, and io.net have entered into a partnership to improve access to scalable GPU resources, aiming to enhance AI and machine learning capabilities. As part of the deal, io.net and Aptos Labs will collaborate to create a range of AI models and products that will eventually be released on the Aptos blockchain network.

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Source: https://crypto.news/singapore-based-blockchain-startup-aelf-joins-ai-race-with-50m-fund/