Chromia unveils $20 million data and AI fund, plans Asgard upgrade

Key Takeaways

• The fund will foster data cleaning and automation in the blockchain industry.
• The Asgard mainnet will introduce Extensions, customized chains bringing new functionalities to the platform.

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Chromia, a layer-1 relational blockchain, has announced a $20 million Data and AI Ecosystem Fund and the upcoming ‘Asgard’ Mainnet Upgrade at TOKEN2049 Singapore. These initiatives aim to expand Chromia’s ecosystem in 2024 and 2025.

The fund, led by Yeou Jie, Chromia’s Head of Business Development, will support data-intensive projects and AI-enabled applications.

“We believe that any project dealing with significant amounts of data needs data cleaning and automation, leading to the implementation of AI,” Jie stated. “Chromia is the ideal environment for developers to build solutions that can process, analyze, and react to complex datasets in real time.”

The ‘Asgard’ Mainnet Upgrade, scheduled for Q4 2024, will introduce “Extensions”, customized chains bringing new functionalities to the platform.

These extensions will be usable by both native Chromia decentralized applications (dApps) and external clients, including oracle solutions, AI model computation, and support for data availability and zero-knowledge proofs.

Chromia co-founder Henrik Hjelte added that, by supporting AI and other data-centric solutions, Chromia is positioning itself for broader partnerships and expanding the ecosystem in fresh directions.

Chromia launched its mainnet earlier this year, featuring an on-chain relational database architecture designed for managing large volumes of interconnected data and improving on-chain querying. The platform supports gaming projects like My Neighbor Alice and Mines of Dalarnia while expanding into data-centric fields.

The Data and AI Ecosystem Fund is now accepting applications, with the ‘Asgard’ mainnet upgrade expected to go live by year-end. Extensions will be developed incrementally through 2025.

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