OpenLedger completes $8 million seed funding led by Polychain for further development.

OpenLedger has received funds to support its team expansion and operational growth in preparation for the official testnet launch of its blockchain network in the fourth quarter of 2024. This infrastructure provides a permissionless platform for users to control their personal data.

The funding will enable the team to address the bottlenecks associated with the AI industry and focus on tackling the challenges posed by data as AI becomes increasingly integrated into everyday applications. In a press release, OpenLedger highlighted data as one of the most significant issues in the AI industry.

The team emphasized the importance of addressing the bottleneck of data as AI continues to evolve. OpenLedger aims to provide the infrastructure and verifiable data that developers require, leveraging EigenLayer’s technology to ensure the verifiability, diversity, integrity, and security of data.

OpenLedger’s goal is to contribute to the advancement of blockchain and AI on a global scale, attracting investment from top firms in the Web2 and Web3 space. The team boasts talent from prominent companies such as Sony and Walmart, as well as individuals from the blockchain industry, including Polygon, Hedera, and Flow.

A portion of the funding will be allocated to hiring additional team members to support OpenLedger’s objectives.

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