The current cryptocurrency market is experiencing significant growth, driven by the integration of artificial intelligence and blockchain technologies. IO.NET stands out among projects that merge these revolutionary technologies.
What is IO.NET and How Does it Work?
Launched in 2024 and founded in 2022, IO.NET offers an innovative approach to decentralized computing. Led by CEO Tory Green, the platform aggregates GPU resources from various sources, effectively creating a decentralized physical infrastructure network (DePIN).
Venture Capital Backing and Investment Rounds
IO.NET has garnered significant attention from major investors in the blockchain sector. The project completed a $30 million Series A funding round in March 2024, led by Hack VC, with participation from 6th Man Ventures, Multicoin, and others.
Understanding the IO Token
The IO token serves as the primary utility token within the IO.NET ecosystem. It is used for payment of computing services, rewards for computing power providers, and network security facilitation.
IO.NET presents a compelling investment proposition in the decentralized AI sector, with strong institutional support and strategic market positions indicating potential for long-term success.
