Artificial Intelligence (AI) startup Modulus Labs has recently secured $6.3 million in seed funding, marking an important milestone for the company. This funding round, led by prominent crypto investors, signifies the growing interest in integrating AI and crypto technologies. Modulus aims to revolutionize the AI industry and bridge the gap between artificial intelligence and blockchain by leveraging zero-knowledge proofs (ZK-proofs) for scalability and security enhancements.
Innovative Approach with ZK Cryptography
Modulus Labs utilizes ZK cryptography, specifically ZK-proofs, to offer scalability and security enhancements for AI models. ZK-proofs allow for the verification of the correct execution of AI models on-chain. This verification process ensures blockchain-equivalent security at a fraction of the cost. Co-founder Daniel Shorr explains, “Our audience is basically smart contract devs or on-chain services who want to add AI.”
Advancing Decentralized Protocols and NFTs
The integration of AI and blockchain technology allows Modulus to advance decentralized protocols while minimizing human interference. One of the project’s exciting applications is in the realm of non-fungible tokens (NFTs). Modulus has developed a platform called Upshot, which delivers timely and accurate NFT prices by leveraging AI capabilities and the security provided by blockchain technology. This unique marriage of AI and blockchain, made possible by Modulus’ specialized ZK proving, ensures an NFT price feed forged with AI superpowers and blockchain security.
Modulus also hints at upcoming updates, including partnerships with Worldcoin and Upshot for Ethereum-based AI applications. Additionally, the company has unveiled a ZK prover specifically built for AI, named ‘Remainder.’ These developments showcase Modulus’ commitment to pushing the boundaries in the field of AI and blockchain integration.
