---
title: "Singapore-based blockchain startup aelf joins AI race with $50m fund"
url: https://diffcoin.com/singapore-based-blockchain-startup-aelf-joins-ai-race-with-50m-fund/
description: "Blockchain startup aelf has unveiled a new $50 million ecosystem fund aimed at prioritizing the integration of artificial intelligence into the blockchain"
published: 2024-04-12
updated: 2024-04-12
author: "Mila"
site: "Diffcoin"
---

# Singapore-based blockchain startup aelf joins AI race with $50m fund

Blockchain startup aelf has unveiled a new $50 million ecosystem fund aimed at prioritizing the integration of artificial intelligence into the blockchain.

Singapore-headquartered blockchain ecosystem aelf is launching a new multi-million dollar initiative to transition from a decentralised network to a “vibrant ecosystem enriched with state-of-the-art AI models.”

> 📢ANNOUNCEMENT📢
> 
> As we envision AI to be the next catalyst for the future of blockchain, we are excited to announce that aelf will be undergoing an AI transformation, pivoting its focus to integrating [#AI](https://twitter.com/hashtag/AI?src=hash&ref_src=twsrc%5Etfw) technology into its blockchain.
> 
> The transformation will unlock new… [pic.twitter.com/CgyWAu00Dc](https://t.co/CgyWAu00Dc)
> 
> — ælf (@aelfblockchain) [April 12, 2024](https://twitter.com/aelfblockchain/status/1778718729725210939?ref_src=twsrc%5Etfw)

In a blog announcement on Apr. 12, the aelf team said that its investment arm, aelf Ventures, will be “strategically deploying” its $50 million Ecosystem Fund to support “innovative AI initiatives seeking blockchain enablement.”

> “With the roll-out of developer-friendly toolkits, aelf will further catalyze this AI blockchain innovation by empowering the community to utilize those new technologies for data pre-processing, model training, fine-tuning and deployment, agent development, on-chain deployment and monetization with the aelf blockchain environment.”
> 
> The aelf team

Although the funding criteria haven’t been revealed, the announcement suggests that current projects and games on the aelf blockchain are preparing to incorporate AI capabilities, reflecting a growing interest in the synergy of blockchain and AI among companies.

As crypto.news previously reported, Aptos Labs, the firm behind the Aptos blockchain, and io.net entered into a partnership to improve access to scalable GPU resources, aiming to enhance AI and machine learning capabilities. As part of the deal, io.net and Aptos Labs will collaborate on creating a range of AI models and products for their eventual release on the Aptos blockchain network.

Follow Us on Google News

[Source link](https://crypto.news/singapore-based-blockchain-startup-aelf-joins-ai-race-with-50m-fund/)