The intersection of AI and blockchain technology is a key narrative in the current crypto bull market. Among projects in this area, IO.NET stands out. We examine its infrastructure, tokenomics, and long-term investment potential.
What is IO.NET and How Does it Work?
Founded in 2022, IO.NET presents a new model for decentralized computing. Launched in 2024 under the leadership of CEO Tory Green, the platform aggregates GPU resources to create a decentralized physical infrastructure. It addresses critical issues in traditional AI development, such as limited hardware availability and high costs.
Venture Capital Backing and Investment Rounds
IO.NET has attracted significant attention from investors in the blockchain space. In March 2024, the project completed a $30 million funding round led by Hack VC, with participants including 6th Man Ventures, Multicoin, and others. This follows an earlier $10 million funding round, indicating high institutional confidence in the project.
Understanding the IO Token
The IO token is the primary utility token within the IO.NET ecosystem, built on the Solana blockchain. With a market cap of approximately $245 million, the token is used for GPU service payments, rewards for power providers, and other functions. The tokenomics features a maximum supply cap of 800 million tokens, distributed among various participant categories.
IO.NET presents a significant opportunity in decentralized AI computing. Its strong infrastructure and investor backing may pave the way for future success. However, investors should carefully consider risks related to market volatility and sector competition.
