Ethereum

2024

Polygon

<ul>
 <li>Founders Fund co-led an $85 million investment in Sentient, an open-source AI development platform built on Polygon.</li>
</ul>
<ul>
 <li>Sentient aims to democratize AI development, countering dominance by tech giants like Google and Meta.</li>
</ul>
Peter Thiel’s Founders Fund has co-led a significant $85 million seed round investment in Sentient, an open-source AI development platform. The platform will be built on Polygon, an Ethereum scaler, marking<a href="https://www.crypto-news-flash.com/polygon-and-nodekit-collaborate-to-boost-composability-in-ethereums-cdk-rollups/" rel="noopener noreferrer nofollow"> Polygon’s foray into AI.</a> Polygon co-founder Sandeep Nailwal is a key contributor to Sentient, highlighting the project’s ambitious scope.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 congratulations to the entire sentient team!
 ➨ a pivotal step for the <a href="https://twitter.com/sentient_agi?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@sentient_agi</a> platform that will be built on polygon cdk, tapping into the unified liquidity of the agglayer <a href="https://t.co/Ma4k1MYVhY" rel="noopener noreferrer nofollow">https://t.co/Ma4k1MYVhY</a>
 — Polygon | Aggregated (@0xPolygon) <a href="https://twitter.com/0xPolygon/status/1808243798923005967?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 2, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The funding round was co-led by Founders Fund, Pantera Capital, and Framework Ventures, with contributions from numerous other investors, including Ethereal, Robot Ventures, Symbolic Capital, and Delphi. 
The funds will be used to build out the platform, hire AI research and blockchain engineering experts, and establish partnerships with leading academic institutions and industry players. Sentient’s goal is to provide an open-source platform for AI research and development that aligns AI innovations with community-built open AGI.
<h3 id="strong-decentralization-and-equitable-distribution-strong">Decentralization and Equitable Distribution</h3>
Sentient’s core contributors emphasize the need for a balanced approach to AI development. Sandeep Nailwal, Polygon co-founder and Sentient core contributor highlighted the risks posed by the concentration of power in a few centralized entities. He stressed the importance of distributing the benefits of AI equitably and ensuring its development aligns with the interests of humanity.
Pramod Viswanath, another core contributor and a professor of engineering at Princeton University, echoed these sentiments. He pointed out the dangers of a few companies controlling access to AI services and the need for a community-driven approach. Viswanath emphasized that while some aspects of AI, such as inference, require significant computing power and may not benefit from decentralization, other areas can thrive with diverse contributions.
Viswanath introduced the idea of a new form of property rights in AI. He argued that community ownership and the return of economic value for contributions are crucial. By respecting property rights and aligning incentives, Sentient aims to distribute power more fairly and ensure the benefits of AI reach a broader audience.
This new approach to property rights in AI is seen as a vital step toward maintaining the <a href="https://www.crypto-news-flash.com/polygon-and-fox-corporation-team-up-for-verify-a-deep-dive-into-their-zk-powered-l2-chain/" rel="noopener noreferrer nofollow">technology’s alignment</a> with human interests. The goal is not to decentralize AI development entirely but to ensure a fair distribution of power and benefits.
<h3 id="strong-partnerships-and-collaborations-strong">Partnerships and Collaborations</h3>
Sentient plans to collaborate with leading academic institutions and industry players to advance its mission. These partnerships are expected to bring together a diverse group of experts and stakeholders to contribute to the platform’s development and ensure it remains open and accessible.
The involvement of prominent investors and industry leaders underscores the significance of Sentient’s initiative. Sentient is well-positioned to make meaningful progress in developing open AGI by attracting substantial funding and support.
Despite the promising outlook, Sentient acknowledges the challenges associated with its mission. Decentralizing certain AI processes, such as inference, presents practical difficulties due to the significant <a href="https://www.crypto-news-flash.com/polygon-pos-innovation-azuro-launches-20k-grant-for-prediction-apps/" rel="noopener noreferrer nofollow">computing power required</a>. However, Sentient remains committed to overcoming these challenges and advancing its vision of a community-driven AI platform. The company’s approach to AI development is rooted in the belief that diverse opinions and contributions can drive innovation.&nbsp;
&nbsp;

Polygon’s AggLayer Boosts Sentient’s $85M Seed Round for AI Development

Table of Contents

Crypto News Flash

Other articles published on Jul 4, 2024

Compute Labs raises $3M Pre-Seed to bring tokenized GPUs to Solana

Ardor Wallet Review 2024

ETH Stakers Grow By 60,000 Amid Spot Ethereum ETFs Expectations

Crypto News Today: Bitcoin Slides Below $60K Amid Sell-Off

Robinhood Crypto News: Aloha to Expansion! Trading Now Available in Hawaii and Beyond

IRS unveils new crypto tax rules: Are they a good thing?

Join our free newsletter for daily crypto updates!