LBank $AIN AMA RECAP
On 12 May 2023 ,Lbank held an AMA with the $AIN team in the Lbank official telegram group , those ones who had missed this session can see the recap of the AMA here and can read the transcript of the session again .
INTRODUCTION
GUEST:
Sure! @BiggiedipCM I’m Alex, currently working as a Crypto BD at AI Network.
AI Network seeks to become the “Internet for AI” in the Web3 era, offering a platform where individuals can seamlessly create and engage with artificial intelligence, fostering collaboration and enhancing the human experience.
We’re a layer 1 blockchain company. And we have our tokens named “$AIN” which has just been listed on LBank!
If you want to know more about us, you can check https://ainetwork.ai
SECTION1
Question 1. What triggers you to launch $AIN ? What are some of the real-world problems/ pain points that $AIN to solve?
Guest:
Long before ChatGPT popularized A.I. into the mainstream back in 2018, Minhyun Kim, the founder of the AI Network, foresaw the bottleneck of computation that would soon come as A.I. gets scaled, and how that could be solved by incentivizing idling GPU resources to join the network.
To cover the real-world problem/pain points part first, we all know that in these days hyperscale AI models are now trending, like ChatGPT made by OpenAI, which is backed by Microsoft, and Bard by Google, Llama by Meta.
In order to operate, run the software, and to develop better AI Software programs/models, there must be a massive amount of GPUs. And because of this, AI development was driven heavily by big tech conglomerates like Microsoft, Google or Meta. We thought that the AI development should not be monopolized by tech giants only.
We believe that It should be accessible by anyone else, and open source-based. We want to give opportunities to access to GPU resources for free to AI developers and creators. We provide GPUs to AI developers, companies, and creators without any cost, so that they can start their AI development and made their own AI creations, eventually create an Internet of AI, accessible for everyone.
The $AIN token does exactly that, and is the centerpiece of AI Network that solves this problem by rewarding GPU providers — as well as open source developers — for their contributions, ensuring that using A.I. is always cost-friendly for anyone.
AI Network’s role in this narrative is critical, because we are solving an increasing problem that is challenging fair and equitable access to A.I. for the masses. We’re already seeing signs of this happening with ChatGPT demanding around $20 per month in order to maintain access during times of high traffic, blocking out millions around the world who may not be able to afford that.
If this trend continues, only the affluent and wealthy will gain from the benefits A.I. provides, which would only further drive a wedge with income inequality, globally. In solving this problem, we seek to become the world’s largest network of open-source AI powered by decentralized computation.
Question 2
Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiration for approaching this name?
Guest:
That’s a good question:) As I mentioned before on the first question, AI Network has been established back in 2018, meaning that it’s way far behind the boom of AI at the end of 2022.
Minhyun Kim, the founder of AI Network worked at Google for 8 years as an AI Engineer.
Based on what he had learned and experienced from Google, he had seen first-hand the build-up of immense libraries of artificial intelligence that were being kept hidden behind the walls of private cloud — all which were meant to maximize corporate profits.
He held a vision that A.I. should be available for everyone and provided as open source, thus launching AI Network, the network of AI as the name implies.
Here the network means the new Internet. And we believe the protocol of the new Internet would be Web3, where AI interacts with each other, and each identified in the format of token/non-fungible token.
Question 3
Are you focusing on market at this time or focus on building and developing or getting customers and users, or partnerships?”
Guest:
Now we’re focusing on getting customers, users, and partnering up with AI projects and Web3 projects. We have built and released our mainnet at the end of 2021. At the same year, we have attracted series B investment as well.
Based on fundings secured, we have secured GPUs which can be used for AI development, and released the main products, such as Runo(Run-yoUr NOde).
There are customers purchasing Runo NFTs to get additional $AIN tokens now, and also we’re aiming to get global customers via listings on global, prominent exchanges like LBank!
And we’re partnering up with AI companies, right now mostly in Korea, but pursing to be partnered with AI companies across the globe.
For example, we have partnered up with the AI company called Tunib, a Korean company specialized in processing a massive amount of natural languages.
And in an international level, we have released babyshark NFTs, collaborating with Pinkfong, one of the most famous IP across the globe among kids-related industry. As above, We’re collaborating with various Web3 and AI projects, including Soulfiction, NFT Classics Society, AI Artist Club, etc.
Aside from it, we’re working closely with LG Electronics, Line Blockchain, etc. We hope to partner up with many other various projects, especially with other global good Web3 projects as well.
4. “What are the competitive advantages that you feel most confident about this project?
And what and how is the utility of your token?”
GUEST:
AI Network blockchain is a blockchain specialized in processing a massize size of data. it’s our competitveness over other layer 1 blockchains.
To be more specific, we built a blockchain for server-less computing. When designing modern serverless architecture, applications achieve high scalability through statelessness, permission, and concurrent operations. By decoupling computation from blockchain, AI Network can perform large scale operations in a serverless architecture.
At the same time, AI Network blockchain is designed as a lightweight ledger that can process millions of transactions per second and safely record communication between clients and workers. So that’s why it’s a blockchain adequately designed for processing a big amount of data fast and effectively.
If you want to know more about it, please refer to: https://docs.ainetwork.ai
And the utility part!
$AIN listed on LBank is an ERC-20 based utility token. It’s now being utilized in using services on top of our network, for example Runo NFTs. You can purchase Runo NFTs with $AIN, and earn additional $AIN by just activating your Runo, an node NFT.
And we have a DAO called AIN DAO, and there you can use AIN to create your own images by just simply typing and playing with words or phrases from our discord channels.
They’re prompt-based generative AI images based on Stable Diffusion, which literally transform your texts to images through words that you type in to the AI. And more features will be available in the near future, and that’s where AIN can be used as well
And last but not least, the $AIN token will be used to transform your NFTs into dynamic AINFTs. You will be able to create your own NFTs by designating certain parts that you want to give some tweeks, type whichever words you want on prompts, and create your own AINFTs.
The service enabling this transformation from ordinary NFTs to AINFTs is called AINFTize and we’re in the middle of building it.
5. Roadmap is very important. It helps investors to measure level of performance of a project. Can you share some updates on your roadmap with us?
Guest:
Yes so true, great question for a final one
AI Network aims to become the internet for AI. And in order to do that, we need to secure more and more GPUs. And we do that by letting our customers and clients to purchase our GPU NFTs with $AIN. And the GPU NFTs are proofs of contribution to the AI Network blockchain.
This year, we’re aiming to reach to the milestone of 3,000 GPU NFTs(Runo NFTs). Starting from the end of February this year, there were 2 rounds of Runo NFT sales rounds, and all sold out except 2, 238 GPU NFTs in total. If you want to know more, feel free to check: https://www.ainetwork.ai/node/price. Now there’s a third round going on, until the 24th of May
Our goal is to reach to the milestone of 15,000 GPU NFTs, which is enormously hugh enough amount to run a GPT-3, until the end of next year — I know it’s quite an ambitious goal. However, that’s our goal.
Ultimately, we’re aiming to build an ecosystem where ‘collaborative AI’ takes its place. After reaching to that point, we want to make AI accibile to everyone, open-source based, different from other models.
On top of the blockchain of collaborative AI, we’re aiming to reach to the milestone of 10,000 AINFTs till the end of 2025.
And last but not least, there’s a concept of AIN-DAO NFTs which is a community of AI experts and creators.
Anyone can use the GPU resources, but they have to upload a proposal first in AIN-DAO first, and after the voting by AIN-DAO NFT holders, if granted, ones who want to use the GPU computing resources as per their demands.
We’re aiming to have 1,000 AIN DAO NFT holders until the end of 2025 as well.
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