{"id":597111,"date":"2023-11-09T11:03:20","date_gmt":"2023-11-09T08:03:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ai-infrastructure-startup-ritual-raises-25m-to-fill-gaps-in-crypto\/"},"modified":"2023-11-09T11:03:20","modified_gmt":"2023-11-09T08:03:20","slug":"ai-infrastructure-startup-ritual-raises-25m-to-fill-gaps-in-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ai-infrastructure-startup-ritual-raises-25m-to-fill-gaps-in-crypto\/","title":{"rendered":"# AI infrastructure startup Ritual raises $25M to fill gaps in crypto"},"content":{"rendered":"

Ritual\u2019s AI models can help address new use cases in crypto, such as automatically managing risk parameters for lending protocols based on real-time market conditions. <\/p>\n

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Decentralized artificial intelligence (AI) network Ritual came out of stealth mode to announce a $25 million Series<\/a> A financing for the company, led by Archetype. The company offers an AI-powered infrastructure that aims to execute complex logic currently beyond smart contracts.<\/p>\n

While AI adoption maintains an uptrend across all business verticals, issues such as high compute costs, limited hardware access and centralized APIs hinder the full potential of the current AI stack. As explained in Ritual\u2019s introductory post<\/a>:<\/p>\n

\u201cThe grand vision for Ritual is to become the schelling point of AI in the web3 space by evolving Infernet into a modular suite of execution layers that interop with other base layer infrastructure in the ecosystem, allowing every protocol and app<\/a>lication on any chain to use Ritual as a AI Coprocessor.\u201d<\/p><\/blockquote>\n

The introduction of such AI models in crypto \u2014 from base layer infrastructure to applications \u2014 can help address new use cases, such as automatically managing risk parameters for lending protocols based on real-time market conditions.<\/p>\n

Ritual\u00a0protocol diagram. Source:\u00a0ritual.global<\/em><\/figcaption><\/figure>\n

Ritual\u2019s protocol diagram reveals the use of modular execution layers revolving around AI models. The GMP layer \u2014 consisting of layer 1, rollups and sovereign \u2014 \u201cfacilitates interop between existing blockchains and Ritual Superchain, which functions as an AI coprocessor for all blockchains.\u201d<\/p>\n

Investors including Balaji Srinivasan, Accomplice, Robot Ventures, Accel, Dialectic, Anagram, Avra and Hypersphere joined the $25 million Series A funding round. The funding will be used to grow Ritual\u2019s developer network and start seeding the network.<\/p>\n

Related: <\/em><\/strong>Visa launches global AI advisory practice focused on generative systems<\/em><\/strong><\/p>\n

The vagueness presented in the recent executive order on AI safety from the Biden administration raised concerns among the AI community over stifling innovation.<\/p>\n

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My Executive Order on AI is a testament to what we stand for:<\/p>\n

Safety, security, and trust. pic.twitter.com\/rmBUQoheKp<\/a><\/p>\n

\u2014 President Biden (@POTUS) October 31, 2023<\/a><\/p><\/blockquote>\n