Cyber.Fund to Allocate $100M in Ethereum-Backed 'Cybernetic Economy'

• Blockchain and AI Investment: Cyber.Fund's $100 Million Commitment
• Growth in the Cybernetic Economy
• Intersection of AI and Cryptocurrency
• Cyber.Fund's Vision
• Related News

Blockchain and AI Investment: Cyber.Fund's $100 Million Commitment

Cyber.Fund, a company that has been an early supporter of blockchain projects like Ethereum$2,315 -2.42%, Cosmos, Solana$104 5.03% and Polkadot$8.21 -2.51%, is planning to invest $100 million in initiatives that combine blockchain technology with artificial intelligence (AI) and the Internet of Things (IoT).

Growth in the Cybernetic Economy

Announced on Thursday, Cyber.Fund's commitment is aimed at propelling the cybernetic economy, a concept they define as an interconnected, automated economic structure built around blockchain, AI, and IoT. The firm sees blockchain technology as the cornerstone of this modern, interconnected economy.

Intersection of AI and Cryptocurrency

In the wake of popular AI tools' success, such as ChatGPT, this year witnessed an upsurge of AI-based tokens in the cryptocurrency sector. This has sparked speculations that the fusion of AI and blockchain technology could potentially usher in the next bull cycle in cryptocurrency.

Cyber.Fund's Vision

The co-founder, Konstantin Lomashuk, expressed that the driving force behind Cyber.Fund is the faith in blockchain as the bedrock for a new, programmable, trustless, and decentralized economy. Lomashuk sees the cybernetic economy as a new epoch of innovation and shared growth, and declares that Cyber.Fund is ready to spearhead this transformation.

Related News

In other news, Grove, a decentralized infrastructure provider, has recently raised $7.9 million in funding.

Edited by Jonathan Stoker