Blockchain startup Aptos partners with io.net to decentralize access to AI

Aptos Labs has inked a partnership with io.net to enhance access to scalable GPU resources in a bid to boost AI and machine learning capabilities.

Aptos Labs, the firm behind the Aptos blockchain ecosystem, has entered into a partnership with io.net, a provider of decentralized GPU compute solutions in a bid to decentralize access to artificial intelligence (AI) resources as more venture capital firms are taking aim at the rapidly growing technology.

According to a press release shared with crypto.news, io.net and Aptos Labs will collaborate on developing a suite of AI models and inference products for their future release on the Aptos network. These future offerings will apparently leverage the Aptos network to facilitate payments.

The press release notes that io.net’s generative AI product dubbed BC8.ai is already using Aptos to “process over 500,000 transactions a day,” which is why io.net decided to deepen its collaboration with Aptos. Aptos Labs head Mo Shaikh emphasized the shared vision of io.net and Aptos, saying both entities aim to de-risk and decentralize AI applications on the Aptos platform.

“io.net’s vision for an accessible, decentralized, and responsible future for AI mirrors Aptos’ vision for the future of blockchain — and the next phase of the internet for billions of people.”

Mo Shaikh

Aptos’ latest partnership aligns with investors’ increasing interest in the potential synergies between blockchain and AI. In December 2023, analysts at the crypto venture giant a16z crypto released a research paper outlining key areas where blockchain technology could complement artificial intelligence. They particularly emphasized that blockchain networks could serve as a “counterbalancing force to centralized AI,” fostering multi-sided, global, permissionless markets where anyone can contribute.

Meanwhile, venture capital firms are showing heightened interest in this intersection, with over a fifth of all venture funding in February allocated to AI companies, totaling $4.7 billion in investments. This marked a significant increase from the $2.2 billion invested in AI companies in January and the $2.1 billion invested in February 2023, according to data from Crunchbase.