Swarm Network has successfully closed a $13 million funding round aimed at advancing its decentralized AI verification protocol.
Funding and its Sources
The company raised $10 million through public agent license sales on the Sui network. These funds are expected to accelerate the development and implementation of new verification solutions.
Market Activity and Public Reaction
The market responded positively, with over 10,000 agent licenses sold in a short timeframe. This reflects strong interest from both retail and institutional investors. Kostas Chalkias, co-founder of Sui, noted that Swarm's approach provides 'scalable, high-integrity data aggregation,' which is critical for the digital future.
Future Insights and Technology Integration
Swarm Network aims to convert off-chain data into verifiable on-chain information, leveraging AI capabilities and zero-knowledge proof technology. These initiatives align with broader market trends, similar to Numerai's $500 million funding, highlighting the growing interest in AI and blockchain integration.
Thus, Swarm Network's success in securing funding reflects the increasing attention to verification technologies and their importance in ensuring transparency and trust in the digital space.
