0G Labs, or Zero Gravity Labs, the developer of a modular blockchain focused on decentralized artificial intelligence applications, has raised $35 million in pre-seed funding.
This was a single round structured as a simple agreement for future equity with token warrants, Michael Heinrich, co-founder and CEO of 0G Labs, told The Block. He declined to comment on the valuation.0G Labs is a modular blockchain project building a data availability system.
The demand for data availability layers will grow as decentralized AI applications grow, according to 0G. Therefore, the project bills its tool as a "modular AI chain" focused on offering a scalable and programmable data availability layer for AI dapps.0G said its modular AI chain will be 50,000x faster than competitors while maintaining a cost that is 100x cheaper at 50 gigabytes per second compared to competitor rates of 1.5 megabytes per second.
As for 0G's focus on AI, Heinrich said since decentralized storage is part of 0G's data availability layer, it can support storing models, encrypted user requests, training data, etc.