By Anisha Pandey
Edited by Julia Sakovich
Updated
3 min read
Recently, NetMind.AI’s native cryptocurrency NMT was listed on the Bitget exchange, with its value currently trading around $2.32, a notable 11% increase over the past week.
Popular decentralized platform io.net has entered into a strategic partnership with NetMind.AI to enhance its artificial intelligence (AI) and machine learning (ML) capabilities. This partnership aims to leverage the unique strengths of both companies, expanding their ability to deliver advanced, cost-effective AI solutions that can benefit end-users across the board.
As per the official press release shared with CoinSpeaker, the duo would be integrating their resources to boost computational capabilities, particularly during periods of high demand.
In particular, Io.net will contribute additional GPU power to NetMind during peak times. In return, NetMind will augment io.net’s decentralized computing network, fortifying its distributed infrastructure and expanding its capacity to support an array of machine learning tasks.
NetMind.AI is a company deeply committed to developing the technology and ecosystem necessary for the advancement of future Artificial General Intelligence (AGI). Its principal product, NetMind Power, is a decentralized AI ecosystem that harnesses idle computing power to make AI more accessible and affordable.
Recently, NetMind.AI’s native cryptocurrency NMT was listed on the Bitget exchange, with its value currently trading around $2.32, a notable 11% increase over the past week.
Kai Zou, CEO of NetMind.AI, commented on his company’s collaboration with io.net. He stated that the pooling of resources is intended to lower expenses while delivering high-performance computing, in line with NetMind’s dedication to making AI development accessible to all.
Io.net operates as a decentralized physical infrastructure network (DePIN), deploying and handling decentralized GPU clusters sourced from various geographically distributed locations. This system is important for the growing demands of AI and ML tasks, particularly in a world increasingly reliant on high-performance computing (HPC).
Earlier this year, io.net solidified its position in the AI sector by signing a deal with Synesis One, the first Train2Earn platform on Solana. Just last week, io.net extended its support to image-generation platform Leonardo AI, assisting in meeting the increasing customer demand for its generative AI content production services.
The platform also launched its native cryptocurrency, IO in June this year. Currently trading around $1.53, the token has seen a 12% increase over the past week, bolstering its market cap to $144 million. However, despite this growth, the token is still down around 75% from its all-time high of $6.45, achieved shortly after its launch in mid-June.
The AI sector has experienced unprecedented growth in recent years, driven by innovations from companies like OpenAI. This surge in AI development has significantly influenced global market dynamics. Cardano founder Charles Hoskinson recently speculated that OpenAI might be on the verge of launching a new iteration of its GPT model.
In April, X CEO Elon Musk boldly predicted that the United States could elect its first AI president in 2032.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
