Swarm Network has announced the completion of a $13 million funding round led by Sui Foundation with participation from leading Web3 investors. The funds will be directed toward the development of decentralized AI verification protocols.
Funding from Sui Foundation
Swarm Network completed a $13 million funding round with significant backing from Sui Foundation. Key players like Sui Foundation and Ghaf Capital supported this initiative, highlighting a focus on enhancing blockchain infrastructure through the use of Swarm proxy licenses on the Sui network.
Goals of the Funding
The funding aims to expand the decentralized AI verification protocol, particularly enhancing its core product called 'Rollup News.' This is expected to influence the dynamics of SUI tokens and contribute to transparency in blockchain technologies.
Impact on Blockchain Market
This support emphasizes the growing trend toward composable asset models and integrated blockchain solutions in decentralized financial ecosystems. Historical funding trends in DeFi and AI suggest potential token value increases post-funding. This event highlights expectations of increased project adoption within the Sui network ecosystem.
The funds raised and their application in Swarm Network confirm the ongoing trend of growing interest in the integration of AI and blockchain technologies, as well as expectations of their impact on financial markets.
