Network3 established a $10 million mining fund, co-sponsored by the DePINX Super Node Alliance and invested in start-up funds

Odaily Planet Daily News On January 23, the decentralized Edge AI infrastructure platform Network3 officially announced the establishment of a $10 million mining fund, aiming to promote fairer, more efficient and low-cost AI development. It is reported that the fund will be used to support outstanding projects and teams in the ecosystem, including technology research and development, application implementation and community operation, and attract more institutions to participate in POS staking mining. The fund is mainly used in the following aspects: 1. Technology research and development: used to cultivate projects deployed in the Network3 mining ecosystem, carry out technology iteration around the three major directions of "energy saving", "efficiency" and "security", and work together to give full play to the advantages of the decentralized Edge AI network and enhance usability; 2. Application implementation: used to cover industry research, product development, business development, application commercialization and other one-stop services to help product implementation; 3. Community operation: used to attract excellent market and operation talents, market development and operation activity planning, and promote community scale growth. Network3 is committed to technological innovation and application promotion in the field of Edge AI. By introducing a high-performance computing network, Network3 provides users and developers with a more fair, transparent and efficient computing power trading platform, exploring a new paradigm in the AI ​​computing resource market. Since its establishment, Network3 has achieved remarkable results in the DePIN and AI track, with more than 620,000 global nodes covering 188 countries. By building a high-performance computing network and massive user Edge Data, the commercial monetization closed loop on the supply side and the demand side has been completed. Previously, $N3 tokens were opened for spot trading on exchanges such as Bybit, Gate.io and BingX at 16:00 Beijing time on January 22. Network3 completed a pre-seed & seed round of financing of US$5.5 million on July 23, 2024, with investors including Borderless, EV3 Labs, IoTeX, SNZ, Bing Ventures, Waterdrip Capital, Web3port Foundation and other VCs.