Chromia Announces $20M Data and AI Ecosystem Fund and Upcoming ‘Asgard’ Mainnet Upgrade
Stockholm, Sweden, September 18th, 2024, Chainwire
Initiatives unveiled at TOKEN2049 Singapore are part of Chromia’s strategy to expand into data-centric fields and spur ecosystem growth following its mainnet launch.
Chromia, a Layer-1 relational blockchain, has announced a series of initiatives aimed at expanding its ecosystem in 2024 and 2025. These announcements, made at TOKEN2049 Singapore, include the launch of a $20M Data and AI Ecosystem Fund and the upcoming ‘Asgard’ Mainnet Upgrade.
The fund is aimed at supporting data-intensive projects and AI-enabled applications. The initiative will be led by Yeou Jie, Chromia’s Head of Business Development, who joined the company in early 2024 after previously serving as Head of Portfolio at DeFiance Capital.
“We believe that any project dealing with significant amounts of data needs data cleaning and automation, leading to the implementation of AI. Chromia is the ideal environment for developers to build solutions that can process, analyze, and react to complex datasets in real time,” said Jie.
“By supporting AI and other data-centric solutions, we’re positioning Chromia for broader partnerships and expanding the ecosystem in fresh directions”, added Chromia co-founder Henrik Hjelte.
In addition to the fund, Chromia announced the ‘Asgard’ Mainnet Upgrade, which is scheduled for Q4 2024. This upgrade will introduce “Extensions”—customized chains designed to bring new functionalities to the platform. These extensions will be usable by both native Chromia dapps and external clients, broadening the platform’s capabilities. Proposed Extensions include an oracle solution, computation for AI models, and support for data availability and zero-knowledge proofs.
Chromia launched its mainnet earlier this year and uses an on-chain relational database architecture designed to manage large volumes of interconnected data and improve on-chain querying. This architecture allows Chromia to function as both a standalone decentralized application platform and a relational data layer for Web3 projects built on other blockchains. In addition to supporting gaming projects such as My Neighbor Alice and Mines of Dalarnia, Chromia is expanding into data-centric fields while continuing its development in gaming and other industries.
The Data and AI Ecosystem Fund will begin accepting applications immediately, and the ‘Asgard’ mainnet upgrade is expected to go live by the end of the year. Extensions will be developed incrementally, with a full rollout planned through 2025.