Blockchain AI Gensyn Achieves $43 Million Investment Led By a16z

Key Points:

• Gensyn has completed a $43 million Series A funding round, led by a16z
• It is a blockchain-based artificial intelligence (AI) computing protocol that achieves many expectations.
• The investment will accelerate the protocol’s launch and expand its workforce of machine learning engineers.

Gensyn, a blockchain-based artificial intelligence (AI) computing protocol, has completed a $43 million Series A funding round led by a16z.

To date, Gensyn has raised more than $50 million. In March of last year, Gensyn completed a $6.5 million seed funding round led by Eden Block, with participation from Galaxy Digital, Maven 11, Coinfund, Hypersphere, and Zee Prime.

The protocol is gaining a lot of public interest because it allows developers to build AI systems on smaller data centers, PCs, and other connected hardware, as well as pay per unit. Gensysn uses a cryptographic verification network without intermediaries allowing users to determine that the machine learning work shared over the protocol was completed correctly.

The project says it will use the new funding to accelerate the launch of the protocol and expand its workforce with machine learning engineers.

There is growing interest in AI, which has the potential to change the way businesses operate in many industries, including media, retail, manufacturing, and financial services. The integration of AI and Blockchain affects many aspects, including Security – Cybersecurity, because AI and blockchain will provide a dual shield against cyber attacks, which are increasingly common.

“We believe that no one can combine the knowledge and cultural understanding of both the AI and crypto worlds better than Gensyn and look forward to working with them to create an infrastructure for AI that can much more widely accessible.” a16z Cryptocurrency General Partner Ali Yahya said in a statement.

Last month, computer chip maker Nvidia, whose products are indispensable for graphics processing units (GPUs) at the core of AI systems, reached a valuation of $1 trillion.

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