This week in the DePIN and AI sectors, strategic growth and significant funding rounds highlight the accelerating pace of innovation and market expansion. Here's a detailed look at this week's key developments:
1. ParaFi Capital Secures $120 Million for Crypto Fund Investments
ParaFi Capital, a New York-based digital asset management firm, has raised $120 million from notable investors including Theta Capital Management and Accolade Partners. The investment will support ParaFi's new strategy to acquire GP stakes in crypto funds, targeting a portfolio of 30 to 50 GP shares over the next three to five years. This move underscores investor confidence in ParaFi's diversified investment approach.
2. BlockDAG Forges a $10 Million Alliance with Borussia Dortmund
BlockDAG has announced a groundbreaking $10 million partnership with European soccer giant Borussia Dortmund. This three-year deal is set to boost BlockDAG's presale efforts significantly, contributing to its ambitious $600 million target. The partnership not only enhances BlockDAG's market presence but also leverages the extensive reach of Borussia Dortmund to bridge the gap between blockchain and global sports fans.
3. Space and Time Closes $20 Million Series A Funding
Space and Time, an AI verifiable compute layer, successfully secured $20 million in a Series A funding round, bringing its total funding to $50 million. With investors like Cypher Capital and Microsoft’s M12 Ventures participating, the funds will be channeled into engineering, product development, and community engagement, aiming to integrate AI with blockchain technology more seamlessly.
4. io.net and FLock.io Introduce 'Proof of AI'
io.net has partnered with FLock.io to launch the 'Proof of AI' (PoAI), a new consensus mechanism aimed at enhancing the integrity of decentralized networks for AI applications. This mechanism promises to verify the performance of compute resources more reliably, paving the way for a scalable and trusted decentralized AI infrastructure.
5. Aethir Teams Up with Auros to Boost ATH Token Transactions
Aethir, a leader in GPUs-as-a-service, has collaborated with Auros to enhance the efficiency and transparency of ATH token transactions. This partnership is expected to streamline on-chain transactions and boost trust among enterprise clients by integrating Auros's algorithmic trading expertise into Aethir’s decentralized cloud computing infrastructure.
6. Theta Expands Partnership with Trusted Media Brands
Theta is enhancing its collaboration with Trusted Media Brands to offer new streaming channels on connected TV and mobile platforms. By utilizing Theta EdgeCloud video technology, TMB is launching two user-generated content channels, further exploring the potential of AI in managing and enhancing digital media content.
Stay tuned for more updates next week and subscribe to stay connected with the latest trends.
