Chromia Unveils $20M Data and AI Ecosystem Fund and ‘Asgard’ Mainnet Upgrade

• The fund’s objectives are to assist AI-enabled apps and data-intensive initiatives.
• The “Asgard” mainnet upgrade is anticipated to go live by the end of the year.

Chromia, a Layer-1 relational blockchain, has unveiled a series of initiatives to grow its ecosystem in 2024 and 2025. The ‘Asgard’ Mainnet Upgrade and the launch of a $20 million Data and AI Ecosystem Fund are among the announcements presented at TOKEN2049 Singapore.

The fund’s objectives are to assist AI-enabled apps and data-intensive initiatives. Yeou Jie, Head of Business Development at Chromia, who joined the business in early 2024 after holding the position of Head of Portfolio at DeFiance Capital, will spearhead the initiative.

Jie said:

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

Chromia co-founder Henrik Hjelte added:

“By supporting AI and other data-centric solutions, we’re positioning Chromia for broader partnerships and expanding the ecosystem in fresh directions.”

Chromia also revealed the “Asgard” Mainnet Upgrade, which is slated for Q4 2024, in addition to the fund. With this upgrade, “Extensions”—customized chains meant to expand the platform’s capabilities—will be available. The capabilities of the platform will be expanded by these extensions, which may be used by both external clients and native Chromia dapps. Oracle solution, computation for AI models, and support for zero-knowledge proofs and data availability are among the proposed extensions.

Chromia employs an on-chain relational database architecture to enhance on-chain querying and handle massive amounts of interconnected data. The company released its mainnet early this year. Because of its architecture, Chromia may be used as a relational data layer for Web3projects developed on other blockchains, as well as a stand-alone decentralized application platform. Apart from extending its assistance to gaming projects like Mines of Dalarnia and My Neighbor Alice, Chromia is also branching out into data-centric domains as it continues to grow in the gaming and other industries.

The “Asgard” mainnet upgrade is anticipated to go live by the end of the year, and the Data and AI Ecosystem Fund will start taking applications right now. The objective is to expand extensions gradually, with a complete rollout anticipated by 2025.