Swan Chain Raised $3M in Seed Funding Round
Swan Chain, an innovator at the intersection of AI and blockchain technology, has successfully completed a $3 million seed funding round in 2023. The round was led by Binance Labs and SNZ, two prominent entities in the blockchain investment space. This funding milestone provides Swan Chain with the resources to scale its team and further develop its comprehensive AI blockchain infrastructure.
With the newly acquired funds, Swan Chain is poised to continue its development as a leading AI blockchain infrastructure provider. Swan Chain distinguishes by offering a full toolset that leverages OP Stack’s Ethereum Layer 2 technology, effectively merging AI and blockchain.
Binance Labs: Empowering the Decentralized Web
Binance Labs, renowned for its commitment to fostering the decentralized web, played a pivotal role in this funding round. As an investment arm of Binance, Binance Labs is dedicated to identifying and supporting promising blockchain projects and entrepreneurs. By providing essential financing and resources, Binance Labs helps to grow and nurture the broader blockchain ecosystem.
SNZ: A Pioneer in Crypto Investment
SNZ, a crypto-native, research-driven investment company with a diverse portfolio of over 200 projects, also led this funding round. Active since 2014, SNZ has been a significant player in the blockchain space, focusing on investment, community building, and incubation. Notably, SNZ was one of the earliest backers of Ethereum in Asia and has been a strategic partner for various Western projects, including Chainlink, aiding their expansion into the Asian market.
Additional Investors
The seed round also saw participation from several other prominent investors, including Outlier Ventures, Protocol Labs, Waterdrip Capital, FBG Capital, Chainlink Labs, Gate.io, Betterverse DAO, Chain Capital, Cabin.vc, LD, CSPDAO, W3coins, Criterion, KONDR DAO and many more. Their collective support underscores the confidence in Swan Chain’s vision and potential.
Swan Chain: A Full Toolset of AI Blockchain
This additional funding will be instrumental in propelling Swan Chain’s mission forward. As a pioneer in merging AI and blockchain, Swan Chain offers a full toolset AI blockchain infrastructure, uniquely leveraging OP Stack’s Ethereum Layer 2 technology. This positions Swan Chain at the forefront of decentralized cloud computing, providing innovative solutions for AI development.
Swan Chain’s Distinctive Position
Swan Chain stands out as a game-changer by addressing the challenges of decentralized cloud computing. By utilizing blockchain technology as a coordination layer, Swan Chain transforms scattered GPUs into usable clusters for AI workloads. This approach not only ensures security and efficiency but also incentivizes GPU owners to contribute to the network.
Blockchain as the Coordination Layer
Swan Chain stands out in the AI blockchain landscape by addressing a critical challenge: the coordination of scattered GPUs into usable clusters for AI workloads. Traditionally, this has been a significant hurdle. However, Swan Chain utilizes the power of blockchain to create a secure and efficient platform that incentivizes and connects GPU owners, forming a decentralized network accessible to AI developers.
Leveraging DePINs
Instead of relying on centralized data centers, Swan Chain taps into the potential of Decentralized Physical Infrastructure Networks (DePINs). These networks harness the vast pool of unused consumer GPUs, estimated at 1.5 billion, and idle data center GPUs not owned by major cloud providers. These GPUs, often comparable in performance to enterprise ones, remain underutilized. By leveraging DePINs, Swan Chain optimizes this underutilized computing power, significantly reducing computing costs while enabling the monetization of dormant assets.
A New Era for AI and Blockchain
The successful completion of the $3 million seed funding round marks a significant milestone for Swan Chain. With the support of leading investors like Binance Labs and SNZ, Swan Chain is well-positioned to advance its mission of merging AI and blockchain. By developing a comprehensive AI blockchain infrastructure, Swan Chain is set to revolutionize decentralized cloud computing, making it more accessible, efficient, and secure.
About Swan Chain
Swan Chain, initiated in 2021, is a full toolset AI blockchain infrastructure accelerating AI adoption. Utilizing OP Stack’s Ethereum Layer 2 technology, it pioneers in merging Web3 with AI by providing comprehensive solutions across storage, computing, bandwidth, and payments. By tapping into underutilized computing power across a network of community data centers, its integration facilitates a significant reduction in computing costs by up to 70% while enabling the monetization of dormant computing assets. Through innovative marketplaces for decentralized storage, AI, and Zero-Knowledge proofs, alongside the efficiency of LagrangeDAO for AI model deployment, SwanChain makes AI development seamless and affordable.
Traction:
- 10M user addresses and 1M daily transactions on the Saturn Testnet as of Q1 2024.
- A vibrant community exceeding 100K Discord members.
- Network expansion to 2,000+ computing providers across 100 global cities.
- Over 50K deployments of AI model containers.
Investors:
Binance Labs, Protocol Labs, Waterdrip Capital, Chainlink Labs, Outlier Ventures, SNZ Holdings and more.
Partners:
Nvidia, Google Web3 Startup Program, Microsoft Startup Program, Chainlink BUILD, Filecoin Orbit.
Website: https://www.swanchain.io
Twitter: https://twitter.com/swan_chain
Telegram: https://t.me/swan_chain/
Discord: https://discord.gg/swanchain
LinkedIn: https://www.linkedin.com/company/swancloud
