Network3 Secures $5 Million in Seed Funding for Web3 AI Infrastructure

IconCryptoNewsTerminal Staff23 Jul, 2024

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Network3 Secures $5 Million in Seed Funding for Web3 AI Infrastructure

Network3, a developer of Web3 AI infrastructure, has secured $5 million in seed funding. The round was led by IOSG Ventures, IoTeX Eco Fund, SNZ, Waterdrip Capital, and Bing Ventures. With this funding, Network3 will expand its team and further develop its technology. The company aims to build an AI layer-2 that will enable developers to create and deploy AI applications on the blockchain. The funding comes as the Web3 ecosystem continues to grow. Network3's AI infrastructure will enable developers to build more sophisticated AI applications that can be used in a variety of applications, such as decentralized finance, supply chain management, and healthcare. Network3's team is led by CEO Ethan Fast, who previously worked at Google and Meta. The company's advisors include Vitalik Buterin, the co-founder of Ethereum, and Jack Clark, the former head of Google AI.

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