- Hack VC, Faction VC, Hashed, and other investors have contributed $5 million to GAIB’s pre-seed fundraising.
- Tokenizing GPUs is the main goal of the crypto-AI startup.
In a pre-seed investment round, GAIB, a crypto-AI business that specializes in tokenizing GPUs, has raised $5 million.
According to GAIB on Tuesday, Hack VC led the round, with co-leads Faction VC and Hashed. Other participants were Chris Yin of Plume Network, Lucas Kozinski of Renzo Protocol, Spartan, Animoca Brands, MH Ventures, Aethir, and Near Foundation.
This year, GAIB was established in June, started raising money that same month, and ended the round in July. Kwong was an investment analyst for the strategic mergers and acquisitions team of Huobi Global before joining L2 Iterative Ventures as a venture partner.
According to Kwong, GAIB’s pre-seed investment round was set up as a token warrant and simple agreement for future equity (SAFE). He would not say if any investors had taken seats on the advisory or directing boards or what the post-round valuation was.
GAIB: What is it?
A crypto-AI platform called GAIB is in development with the goal of tokenizing GPUs to increase accessibility to AI computing, or the processing power required to create and execute AI models. GPUs and other hardware resources are frequently used to deliver AI processing, and GAIB aims to increase the liquidity of these historically illiquid commodities.
The need to unleash the liquidity of hitherto illiquid GPU assets and the increasing demand for easily available, scalable AI computing resources are the driving forces behind GAIB.
The movie Dune, which means “the unseen” or “the future,” served as the inspiration for the moniker GAIB. It also adds that, in the AI era, compute is the new currency and GPUs are the new assets, just like spice is essential to Dune. The startup’s emphasis on three main areas—GPU, AI, and financialization—is also reflected in the name.
AI cloud providers will be able to “stake” their GPUs on GAIB’s platform. After that, these GPUs will be tokenized so that investors can purchase them as fungible tokens. In addition to using them in a variety of DeFi applications, including lending, borrowing, options, futures, structured products, and even GPU-backed stablecoins, investors can hold these tokenized GPU assets for yields and rewards.
According to Kwong, tokenizing GPUs reduces the barriers to investment and enables anybody, from people to institutions, to take part in the GPU economy without having to handle complicated infrastructure or physical hardware.
GAIB’s schedule for launch
According to Kwong, GAIB has finished its prototype and is getting ready for a pilot launch later this month. The debut of the alpha product is planned within the following two months. Additionally, the GAIB token will be introduced following the product’s introduction.
Ethereum, Base, BNB Chain, Plume, Monad, Movement, Berachain, Optimism, Arbitrum, Mantle, Avalanche Zircuit, and Polygon are among the blockchains on which the GAIB platform will be implemented.
The Singapore-based GAIB now employs 19 people, and Kwong intends to grow the team to include more workers in marketing, operations, and research and development roles.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
