Wednesday, May 29, 2024

Binance Labs Leads $4M Funding for AI Blockchain Data Firm Web3Go – Here are the details.

Binance Labs, the incubator and venture capital arm of Binance, the biggest cryptocurrency exchange in the world, has sponsored a seed round that raised $4 million for Web3Go, a blockchain startup with headquarters in Singapore.

According to the press announcement, Hashkey Capital, NGC, Shima Capital, IVC, LIF, Big Brain Holdings, and Archerman Capital were also involved in the seed round investment.

A Web3 Foundation Grant recipient, Web3Go, a graduate of Binance Labs’ incubator program, has also been chosen for a number of other initiatives, including BNB Chain MVB V, AWS Activate, Google Cloud Startup, and other initiatives. The startup claimed that each of these had contributed money.

The company’s selection for the June Cyberport Incubation Program is a recognition of its potential to make a significant contribution to the development of Web3.0 in Hong Kong.

By the end of July, its native asset creation platform, DIN, which targets end users and content creators including analysts, traders, influencers, writers, and others with specific demands, will go into beta.

By the end of the third quarter, DIN anticipates incorporating real-time on-chain trading data to enable users to create and use trade information streams, strategies, and robots that are AI-supported.

As AI-native, this should also provide ownership verification of digital assets through the protocol, “guaranteeing the creator’s revenue,” the business claimed.

Web3Go has so far aggregated real-time full-chain data for the Polkadot and BNB Chain ecosystems, and is also providing data and AI services to a number of public chains and blockchain initiatives.

According to Web3Go, it seeks to assist in resolving ownership verification issues with AI-native digital assets and guarantee authors’ intellectual rights.

It will accomplish this by establishing “a fair, transparent, and trustless economic system.”

It intends to develop an “intelligent network on the blockchain,” supported by its own big data and AI technology. The network will employ blockchain, among other things, to confirm who owns AI-native digital assets.

The network will allow users to use on-chain and off-chain data sets, knowledge databases, and AI to create a variety of AI-native digital assets, such as transaction information streams, trading strategies and trading support robots.

The platform also declared that all Early Bird tickets for the DIN passport non-fungible token (NFT) had been sold out.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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