Ritual Rakes in $25M to Unleash AI Decentralization with DeFi Integration – Making Universal Access a Reality!

Ritual Secures $25M in Funding for AI Decentralization, Aims to Achieve Universal Access through DeFi Integration

Ritual, the David of startups in the decentralized AI realm, has just slayed Goliath with a whopping $25 million seed funding round. This victorious feat was led by the mighty venture capital firm, Archetype, with supporting forces from Robot Ventures and Canonical.

In a world where AI power is concentrated in the hands of tech giants like Google, Microsoft, and Meta, Ritual aims to be the people’s hero, providing universal access to AI technology. Their plan? To build an open, decentralized network that will finally liberate AI from the clutches of a select few.

“The consolidation of AI among a small group of powerful companies poses a significant threat to the future of technology,” declared Niraj Pant, co-founder of Ritual, boldly announcing their mission to save the world from the AI oligarchy that’s been holding us back.

So, how does Ritual plan to overthrow the AI regime and give power back to the people? Well, their network connects a legion of distributed computing devices, creating an army capable of handling various AI workloads. Forget about needing a massive fortress of computing resources – anyone can now join the battle of training and running AI models.

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But wait, there’s more! Ritual’s API layer acts as the secret weapon, granting easy access to the models hosted on their network. And to ensure a fair fight, they’ve established a proof system to guarantee computational integrity. The decentralized nature of Ritual makes it impervious to censorship, unlocking a realm of data privacy and verifiability.

“Ash Egan, founder of Archetype, proudly proclaims,”Ritual is building the leading decentralized AI network, expanding the potential for every single company – from crypto to enterprise – to innovate on this new frontier of technology.”

With Ritual’s revolutionary approach, we can unleash a legion of autonomous agents and fuse AI with decentralized finance (DeFi) protocols, enabling dynamic governance that will blow your mind! This is the stuff of game-changers, my friends.

And guess what? Ritual boasts being the first platform to allow smart contracts to natively integrate AI capabilities. That’s like having Iron Man and Batman shaking hands, combining their superpowers to take on the world’s problems. Enterprises can also tap into the network for some private fine-tuning and inference with foundation models. Talk about a Swiss Army Knife!

Now, let’s meet the brave warriors behind Ritual’s valiant quest. Co-founded by Niraj Pant, former investor at Polychain Capital, and Akilesh Potti, a machine learning researcher turned quant at Palantir, they’ve assembled a fierce 15-person team comprising experts from OpenAI, Coinbase, Palantir, and other legendary tech companies. These champions know a thing or two about taking on giants!

With $25 million freshly fueled in their war chest, Ritual is ready to build the ultimate decentralized AI network. They’re recruiting key players and amping up their ecosystem of users, aiming for an alpha launch in early 2024. The battle has just begun!

Oh, and did I mention they have an elite advisory council composed of AI and crypto experts like Illia Polosukhin, co-founder of NEAR Protocol, Sreeram Kannan, founder of EigenLayer, and Tarun Chitra, Robot Ventures GP? These strategists will ensure Ritual’s success in the quest for AI liberation.

So, my fellow adventurers, prepare yourselves for the epic showdown on the horizon as Ritual storms the gates of the AI fortress. Together, we can unlock a future where AI is no longer dominated by the few, but accessible to all. Join the cause, and let’s build a world filled with better AI for everyone!

[AI]: Artificial Intelligence [DeFi]: Decentralized Finance *[GP]: General Partner

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