Binance Labs has led a $4 million seed round for Web3Go, a blockchain company offering data tools backed by artificial intelligence (AI). The funding round also saw participation from HashKey Capital, NGC, Shima Capital, IVC, LIF, Big Brain Holdings and Archerman Capital.
Web3Go is a Singapore-based startup that was founded in 2021. The company’s mission is to use blockchain technology to make it easier to verify ownership of AI-native digital assets while also offering a suite of data tools that make it easier to create that type of asset.
The funds raised in this round will be used to accelerate the development of Web3Go’s flagship product, the Data Intelligence Network (DIN). DIN is a suite of AI-native digital asset tools and real-time data infrastructure that aims to redefine the blockchain ecosystem.
The funding round is a significant vote of confidence in Web3Go and its mission. It also highlights the growing interest in AI-powered blockchain solutions.
Here are some of the key takeaways from the funding round:
- Binance Labs is leading the way in investing in early-stage blockchain projects.
- AI-powered blockchain solutions are becoming increasingly popular.
- Web3Go is well-positioned to succeed in the blockchain data space.
I’m excited to see what Web3Go accomplishes with the funds raised in this round. I believe that the company has the potential to make a significant impact on the blockchain ecosystem
According to the press release, other participants in the seed round financing included Hashkey Capital, NGC, Shima Capital, IVC, LIF, Big Brain Holdings, and Archerman Capital.
Web3Go, a Binance Labs’ incubation program graduate, has also been selected for additional programs, including the BNB Chain MVB V, AWS Activate, Google Cloud Startup, and Web3 Foundation Grant program. All of these have provided funding, the startup said.
It added that the fact that it was selected for the Cyberport Incubation Program in June “highlights the company’s position as a key Web3.0 startup supported by the Hong Kong government.”
Meanwhile, its native asset creation platform, DIN, is planned for launch in beta by the end of July, targeting end-users and content creators, such as analysts, traders, influencers, writers, and others – each having their unique needs, it said.
By the end of the third quarter, DIN plans to integrate real-time on-chain trading data to allow users to create and use artificial intelligence (AI)-assisted trading information streams, strategies, and robots.
This should also ensure ownership verification of digital assets as AI-native through the protocol, hence “guaranteeing the creator’s revenue,” the startup argued.
Web3Go said that it wants to help solve the ownership verification challenges of AI-native digital assets and ensure creators’ ownership rights.
To do so, it will create “a fair, transparent, and trustless creator economic system.”
It plans to build an “intelligent network on the blockchain,” powered by its in-house AI and big data infrastructure. Among other things, the network will use blockchain to verify the ownership of AI-native digital assets.
Per the startup, the network “will enable users to utilize both on-chain and off-chain data sets, knowledge databases, and AI to create a diverse range of AI-native digital assets, including transaction information streams, trading strategies, trading support robots, as well as entertainment, education, and social intelligent assistants.”
Meanwhile, the platform announced that it had sold out its Early Bird tickets for DIN passport non-fungible token (NFT).