Swarm Network raised $13M to facilitate decentralized AI

Decentralized artificial intelligence protocol Swarm Network raised a total of $13 million to build an AI verification protocol.

According to a Wednesday announcement shared with Cointelegraph, $10 million of the raised funds was secured through the protocol’s licenses to operate agents. A project spokesperson told Cointelegraph that each license is a non-fungible token () that allows its holder to obtain daily rewards for operating agents and maintaining the network.

The remaining funds comprise a $3 million strategic investment from investors, including Sui (), Ghaf Capital, Brinc, Y2Z and Zerostage. The investments by Sui, Ghaf and Brinc were secured by Swarm’s participation in SuiHub’s Dubai-based global accelerator.

Swarm Network is building a decentralized protocol that attempts to turn offchain data into verifiable onchain information. The system has seen an early adopter in the AI-powered fact-checking solution Rollup News, where 128,000 users have reportedly verified over 3 million posts to date.

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Earlier this month, crypto exchange Kraken , a no-code trading automation platform that turns natural-language commands into executable strategies. Some firms abandon crypto for AI altogether, with cryptocurrency miner TeraWulf pivoting into AI infrastructure hosting in mid-August.

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