Web3 infrastructure provider Ankr has launched its AI-focused Layer 1 blockchain Neura on public testnet.
Initially unveiled in March, Neura enables developers to build decentralized applications that blend AI, cloud computing and blockchain technology, according to a statement shared with The Block. Neura is designed to help AI startups with challenges like securing funding, obtaining GPU resources and storing data efficiently, the team said.
As part of its “Road to Mainnet” initiative, Ankr also announced an “AI innovators competition,” with selected projects sharing $100,000 in ANKR token grants. The contest targets developers and AI researchers to build decentralized AI models and apps on the blockchain using Neura’s on-demand decentralized GPU marketplace, an Initial Model Offering fundraising framework, a decentralized storage system for AI data, and smart contracts that control AI access, assets and actions.
“We are thrilled to announce the launch of Neura’s public testnet,” Neura Senior PM Kev Silk said. “As we roll out the AI Innovators competition, we anticipate the emergence of groundbreaking projects leveraging Neura’s cutting-edge capabilities.”
Ankr Network’s ANKR token will act as Neura’s native cryptocurrency, incorporating a rewards system for ANKR holders ahead of an anticipated mainnet launch later this year.
“ANKR token holders will be granted the first opportunity to engage with and invest in these developments, experiencing firsthand the transformative potential of AI models and applications built on Neura,” Silk added.
How Neura works
Built on the Cosmos SDK and compatible with the Ethereum Virtual Machine, Neura handles AI model data by integrating with off-chain storage solutions such as Celestia, EigenLayer, IPFS, and Arweave. Neura also leverages the security of the Bitcoin network through an integration with the Bitcoin staking protocol Babylon.
The Neura team previously said that implementing token standards like ERC-404 and ERC-7641 will enable fractional ownership and transparent revenue sharing in the ecosystem, facilitating its “Initial Model Offering” token sales for projects via crowdsourced capital raises.
Ankr is among several projects seeking to leverage the integration of AI and crypto. In January, imgnAI closed a $1.6 million seed round led by Hack VC to support a “digital companion” launch. Bagel Network, a decentralized data platform aiming to support machine learning models, also recently raised $3.1 million in a pre-seed round led by CoinFund.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Register at Binance