Today, we’re excited to announce that we've raised $15 000 000 from a diverse range of top-tier funds, including crypto funds, strategic investors, and Web2 VCs in order to realize our mission of making data accessible and useful. With this new funding, we will launch the next generation data network and the first Crypto World Model designed to enable mass adoption of onchain data and bring intelligence to crypto.
Blockchain is becoming the largest, globally shared public computer in the AI age, much like a new cloud computing revolution. Because of the unique properties of on-chain data: openness, transparency, and causally complete relationships, data becomes the ultimate signifier of value flow on the chain, and more and more valuable data and new asset classes are being uploaded to the chain, a revolution that will give rise to countless new opportunities. We are committed to helping visionaries capitalize on this potential to achieve their missions.
In today's world, everyone can't afford to ignore the power of artificial intelligence. Of the three commonly agreed upon basic elements of AI (data, compute, and model), data plays the most crucial role. Data pre-processing and processing are where all AI journeys begin. While some may see data as a basic element with low entry barriers, the truth is that top-tier AI models rely heavily on high-quality data input. For example, GPT-2 was trained on 40GigaByte of human-filtered data, while GPT3 was trained on 570GB of data filtered from 45terabyte of raw data. In essence, the larger and better the dataset, the more likely the model is to excel; high-Quality data generates high-quality models.
Crypto is a great companion for AI because there are tons of insights in on-chain data, but without skilled, motivated engineers and great tools, these treasures will remain hidden beneath the surface. We have experienced the bear market in its entirety and know how difficult it is to consistently provide the best service possible. As a result, we're embarking on a community-first, decentralized data network for AI with the core concepts of open collaboration, free access, and sustainability. In this way, we hope to make it possible for anyone to contribute to the global community through Chainbase, maximizing on-chain data to achieve mass adoption, rather than just remaining a possibility.
With this round of funding, we will accelerate our mission to make data more accessible and useful. What's our next steps? Three things:
Open Chainbase Network - It will serve as a data layer for AI, unifying data from all blockchain networks. We ensure a decentralized, crypto-native approach that incentivizes developers around the world to co-produce transparent and reliable datasets, which is the only way to make blockchain data available to AI at a high enough ethical and efficiency standard, in addition to what we hope will be a more rewarding and enjoyable experience for developers than they have ever had at traditional internet companies.
Grow Our Crypto Data Platform - As you know, after more than two years of polish, our developer platform has become one of the leading data platforms, which has more than 15,000 developers, thousands of projects, and has cumulatively processed more than 50 billion data calls. Next, our platform will become the best interface for us to provide enterprise-level services to professional users, constantly iterating and leveraging the capabilities of the underlying Chainbase network to bring surprises to data scientists, developers, and projects.
Build a Crypto World Model - Standing at the crossroads of crypto and AI, we're bringing intelligence to crypto with the launch of the first Crypto World Model utilizing Chainbase network capabilities. This will mark another major expansion of Chainbase's ecosystem services! With this capability, Chainbase will promote hundreds of millions of people to interact with blockchains through a natural language interface, fully releasing the value of onchain data.
We are still an early-stage startup team, but we have a huge potential impact on the future of crypto data and AI. Chainbase attracts more than tens of thousands of developers and data scientists, and people have the freedom to access and train data models to integrate predictions, analytics, and insights into their applications. To make it even easier for people to access crypto data and utilize AI, we are now hiring for a variety of positions.
Founder and CEO of Chainbase, Mogu
