FOR IMMEDIATE RELEASE
June 2024 – MagnetAI, the pioneer of artificial intelligence (AI) technology and the first ModelFi protocol, is thrilled to announce the launch of its cutting-edge user-centric AI and Web3 protocol. This protocol revolutionizes the AI industry and sets the stage for a new AI economy.
For the past eight years, the MagnetAI team has been at the forefront of AI innovation, merging the advancements of Web3 technology with AI to tackle the industry’s biggest challenges.
Redefining the AI Economy with OpenAI Use Case
The dominance of a few major players in the AI industry has sparked concerns about monopolization and a potentially dystopian future. The open-source AI community is struggling with funding and profitability issues, often overshadowing projects with commercial focus.
One notable case study is OpenAI, which began as a non-profit organization and later transitioned to a hybrid model to attract capital and talent. Eventually, it transformed into a profit-driven company. This commercialization process is often driven by centralized powers, resulting in a high level of centralization in terms of ownership, development, and value extraction.
MagnetAI aims to address these pressing challenges in the evolution of AI by striking a balance between rapid commercial expansion and decentralized, community-driven initiatives. Their solutions are crucial not only for the AI industry but also for the broader societal impact of these technologies.
ModelFi: MagnetAI’s Solution for the AI Economy Lifecycle
MagnetAI proposes the groundbreaking ModelFi protocol, which facilitates the trading and sharing of tokenized ownership of AI models, bots, agents, and knowledge bases. ModelFi optimizes the AI economy lifecycle by leveraging the power of Web3 technologies.
Introducing the MagnetAI Trinity, set to launch in July, MagnetAI offers a product matrix comprising three core components: Model Store, Model Economy, and Model Network. This comprehensive product landscape supports AI projects throughout their economic journey, from initial development to commercialization and profitability.
The MagnetAI Trinity empowers AI creators and users to mutually benefit from a decentralized and open AI economy.
1. Model Store:
MagnetAI’s Model Store acts as a decentralized AI marketplace that connects AI creators with users. It provides a unified bot service interface and features like PricePerMessage, Chat2Earn, and Follow2Earn to incentivize users and enable AI creators to gain early traction and generate revenue through paid usage.
2. Model Economy:
The Model Economy allows AI creators to tokenize their products, facilitating rapid fundraising and public investment for future development while building an engaged community. Users can gain ownership rights and revenue share by owning underlying tokens.
3. Model Network:
The Model Network optimizes resource usage by providing access to various computing infrastructures. It combines Web2 Clouds, Web3 GPU Sharing platforms, and Inference API-driven virtual nodes into a unified framework with a user-friendly experience.
MagnetAI’s product strategy promotes sustainable development, continuous improvement, and growth of AI projects through a decentralized and community-driven approach, ensuring that AI remains open and inclusive.
Transforming AI Economics
MagnetAI focuses on addressing the economic challenges of the AI industry by offering a decentralized alternative to the traditional economic lifecycle of AI projects. With the aim of shaping a new AI economy, MagnetAI introduces a world-first concept that is decentralized, inclusive, and driven by a diverse community of stakeholders: ModelFi.
ModelFi applies tokenization principles to AI models, bots, agents, and knowledge bases, creating financial opportunities for AI developers, users, and investors. Beyond financial incentives, the platform allows the community to become integral parts of their favorite AI products. As model token holders, they can enjoy governance rights, shared revenue, and other ownership benefits. AI creators can attract attention, capture future product value through model token sales, and fund future development.
MagnetAI’s vision is to create a shared economy where different target groups and stakeholders collaborate, creating synergies and value that transparently return to stakeholders.
MagnetAI’s Strategic Partnerships
Strategic partnerships with leading financial institutions and technology providers enable MagnetAI to integrate advanced technologies seamlessly for its users.
MagnetAI has recently concluded a $2 million angel funding round and is actively developing its innovative solutions, set to be released in July of this year. The funds will accelerate the development of MagnetAI’s comprehensive suite of products, empowering AI creators and users worldwide. Join and engage with the MagnetAI community to gain early access.
About MagnetAI:
MagnetAI is a leading Web3 technology company that merges blockchain-based technology with AI solutions to create a new AI economy. MagnetAI introduces the pioneering ModelFi protocol, providing financial opportunities for AI creators, users, and investors through tokenization and shared ownership principles of AI services.
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