Decentralized AI Network GenLayer's Developers Secure $7.5 Million in Seed Funding

Decentralized AI Network GenLayer's Developers Secure $7.5 Million in Seed Funding

Yeager AI, the development team behind decentralized AI network GenLayer, has raised $7.5 million in seed funding, according to The Block. The round was led by North Island Ventures, with participation from Node Capital, Arrington Capital, ZK Ventures, WAGMI Ventures, Blockdaemon Ventures, and Arthur Hayes' family office Meltem Ltd. The Yeager AI team is developing a blockchain protocol called Intelligent Contracts that leverages a large language model connected to the internet. The protocol is designed to allow developers to create AI-powered applications and services without having to worry about the underlying infrastructure. The GenLayer network will be powered by the GEN token, which will be used to pay for transaction fees and to reward users who contribute to the network. The team plans to launch the mainnet in the fourth quarter of 2023. This seed funding will allow Yeager AI to continue developing the GenLayer protocol and to build out the team. The team is also planning to launch a testnet in the coming months. The funding is a sign of the growing interest in decentralized AI networks. These networks have the potential to revolutionize the way we interact with AI, by making it more accessible and affordable.