Hong Kong, China
KIP Protocol, the Web 3.0 base layer for AI (artificial intelligence), has successfully closed its strategic funding round led by Animoca Ventures.
KIP Protocol builds secure and gas-efficient Web 3.0 infrastructure that makes it possible for AI creatorswhether app developers, model makers or data owners
- Deploy their work on Web 3.0, thus retaining full ownership
- Interact and transact with other AI assets
- Monetize without losing control over access
Using KIP Protocol, AI app developers can easily create decentralized apps linking to a wide variety of models (whether on-chain or off-chain), drawing data from decentralized knowledge bases to provide retrieval-augmented generation serviceswith user revenue being distributed automatically and transparently to all contributors on chain.
An early alpha of KIP Protocol’s code was a prize winner at Chainlink’s 2023 fall hackathon.
KIP’s core mission is to spawn a vibrant business ecosystem of independent AI apps, models and knowledge bases, collaborating and competing freely to counter the growing AI monopoly of tech giants.
This Animoca Ventures-led round also saw participation by an especially diverse group of investment DAOs, Web 3.0 community leaders and funds across multiple geographical territories, including B.Army (Vietnam), CSP DAO (EMEA), MQdao, Spicy Capital (Latin America), Skyvision Capital (HK) and Purechain Capital (UK), to name just a few.
The diversity of KIP Protocol’s investors reflects its aim of expanding access and participation rights to as wide a group of users and token holders as possible, reflecting the overarching influence of AI across all spheres of human activity.
Driving AI decentralizationshared vision
Central to the KIP Protocol vision is protecting the digital property rights of value creators in AI through Web 3.0, opening a path to fair monetization for even the smallest AI creators.
James Ho, head of Animoca Ventures, said,
“KIP Protocol’s goals of creating a more competitive playing field for all AI creators are strongly aligned with Animoca’s vision of a more equitable Internet underpinned by true digital property rights.
“We at Animoca Ventures are focused on finding and supporting innovative new teams in Web 3.0, and the KIP Protocol team boasts a unique blend of deep AI credentials, Web 3.0 experience and business savvy. We are delighted to be an early backer in their quest.”
Dr. Jennifer Dodgson, chief AI officer and co-founder of KIP Protocol, said,
“We believe that AI advances fastest through cheap, small-scale experimentation and evolutionary pruning. With the help of Animoca Ventures, we aim to create a future in which everyone has the potential to build the next GPT.”
Julian Peh, CEO and co-founder of KIP Protocol, added,
“AI could be the most powerful technological force driving humanity’s progress in the future. Everyonenot just tech giants should be able to reap the economic benefits of the AI-driven era. KIP Protocol was born from the necessity to re-level the playing field for all AI contributors, irrespective of their size.
“We are grateful to Animoca Ventures and our global group of investors for their support for our mission.”
KIP Protocol is building a three-layered architecture, powered by the KIP token, to safeguard the ownership rights of all key stakeholdersmodel makers, app developers and data owners and empower them to monetize safely, securely and efficiently, thereby serving as a catalyst for the adoption of decentralized AI.
The launch of the first DApp on KIP Protocol is planned for Q1/Q2 2024.
About KIP Protocol
KIP Protocol builds Web 3.0 infrastructure for AI app developers, model makers and data owners, empowering easy deployment and monetization of AI assets while maintaining full ownership rights.
KIP solves mission-critical challenges faced in decentralized AI deployments, with an aim to jumpstart wholly new business ecosystems and ensure the economic benefits brought about by AI can be enjoyed by all.
Founded and helmed by AI and business veterans, KIP aims to be a catalyst for the widespread adoption of decentralized AI.
About Animoca Ventures
Animoca Ventures is the venture investment arm of Animoca Brands, a global leader in digital entertainment, blockchain and gamification.
Animoca Ventures specializes in early-stage investments in Web 3.0 and blockchain companies and projects.
It serves as the pulse of Animoca Group, working at the frontlines to discover new cutting-edge projects and trends in the Web 3.0 space.
KIP Protocol, press