Crypto Updates

KIP Protocol Closes Strategic Funding Round Led by Animoca Ventures

KIP Protocol Closes Strategic Funding Round Led by Animoca Ventures

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 creators whether app developers, model makers or data owners – to do the following.

  • 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 services with 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 decentralization – a shared 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…

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