Ora Raises $20 Million to Integrate AI into Decentralized Applications

Ora, a blockchain project aiming to merge artificial intelligence (AI) into decentralized applications (dapps), has successfully secured $20 million in funding from notable investors like Polychain, HF0, and Hashkey Capital.

The newly acquired funds will empower the project to further advance its technology and infrastructure for tokenizing AI models and introducing decentralized AI to the Ethereum ecosystem, as highlighted in a recent press release.

Founded in 2022, Ora positions itself as a “verifiable oracle protocol,” offering developers the essential tools to construct trustless and decentralized applications that leverage AI, as outlined in its project documentation. An oracle plays a pivotal role in supplying real-world data, such as prices and temperatures, to a blockchain.

The project’s revolutionary product, opp/ai, is underpinned by their Optimistic Machine Learning (opML) technology. This innovative mechanism, combined with optimistic systems and zero-knowledge technology, enables secure and efficient on-chain machine learning with privacy-preserving capabilities.

Ora also introduces an innovative concept called “initial model offering” (IMO), allowing the tokenization of ownership rights of open-source AI models.

Kartin Wong, one of the co-founders of Ora, expressed in the statement that the project has the potential to “unleash the creative possibilities for AI dapps.”