Venture capital firms Polygon Ventures and Amber Group collaborate to lead a $20 million investment round for blockchain company Edge Matrix Chain.
Edge Matrix Chain (EMC), a blockchain platform specializing in AI applications, has raised $20 million in a funding round led by Polygon Ventures and Amber Group. The new blockchain is designed to serve AI applications by integrating blockchain technology with GPU resources, creating a novel DeFi asset class backed by tokenized GPU computing power.
Purpose and Features
EMC's AI-tailored layer-1 blockchain aims to provide an underlying infrastructure optimized for AI compute needs. It seeks to offer secure, transparent, and scalable deployment of AI applications and models at layer-1, rather than relying on existing blockchains that are not specifically designed for AI's computational demands.
By tokenizing physical GPU computational resources, EMC plans to create liquidity markets for GPU compute power. This innovative approach turns GPU resources into digitized, tradeable assets on the blockchain, effectively representing ownership or usage rights of GPUs as crypto tokens.
The creation of this new DeFi asset class enables investors to buy, sell, or finance GPU assets via DeFi protocols, thereby fueling the AI economy with new forms of capital and infrastructure liquidity. EMC aims to bridge AI computing with financial instruments, letting investors gain exposure to AI-generated cash flows or GPU utilization yields through these tokenized assets.
The blockchain ensures verifiable, tamper-proof records of GPU resource allocation, usage, and financial transactions related to AI workloads, promoting trust and efficiency in AI compute sharing.
Funding and Incentive Program
The funding round also attracted participation from One Comma, Cyberrock Venture Fund, Candaq Fintech Group, Hameem Raees Chowdhury, and Kapley Judge and Associated Corporations. EMC has set aside $5 million in rewards for an incentive program, to be distributed across two stages.
Leadership and Technology
BK Khur, CTO of EMC, co-founded EMC Network and was part of the Digital Transformation team at Deloitte Consulting. Alex Goh, Chairman of EMC Foundation, co-founded EMC Network and was previously the General Manager of AWS Greater China.
EMC's blockchain is designed to scale and support GPU compute for crypto AI projects. Its peer-to-peer network-based edge computing protocol includes smart contracts, decentralized storage, and consensus mechanisms for transaction verification. Users can share computing resources and process data through EMC Network.
Users of EMC's DeFi asset class can benefit from returns generated by outsourcing on-chain GPU resources. EMC Network enables users to access flexible, reliable, and efficient computing resources. The new DeFi asset class created by EMC is backed by tokenized H100 Tensor Core GPUs developed by Nvidia.
The funding round was announced by EMC on Thursday, marking a significant step towards the launch of its layer-1 blockchain for AI applications. This novel DeFi asset class supported by real AI-generated cash flows represents a unique fusion of blockchain, AI, and financial innovation.
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