Coinspeaker
AI-centric Web3Go Raises $4M in Seed Funding Round Led by Binance Labs
Web3Go, a blockchain company that is revolutionizing artificial intelligence (AI) and data services, has received tremendous support from different sectors including governments, big tech corporations, and crypto veteran companies. Web3Go announced that it successfully raised $4 million in its seed funding round led by Binance Labs. This funding can help to ensure future growth prospects for the company. Other key participants in the Web3Go seed funding round include Hashkey Capital, NGC, Shima Capital, IVC, LIF, Big Brain Holdings, and Archerman Capital.
?We are thrilled to announce that Web3Go has successfully raised $4 million in seed round funding, with @BinanceLabs leading the investment and participation from @HashKey_Capital , @NGC_Ventures , @shimacapital , @ivcryptofund , @LingfengCapital , @BigBrainVC , and… pic.twitter.com/Zz0G4asu2q
— Web3Go ? To the DIN (@Web3Go) July 5, 2023
The strategic funding comes amid the high global demand for AI-backed products, especially in emerging blockchain markets. As a result, Web3Go intends to channel the funds to construct an intelligent network on the blockchain that will be powered by its in-house AI and big data infrastructure.
According to the company, the intelligent network will allow users to seamlessly utilize on-chain and off-chain data sets to create a wide range of AI-backed digital assets. Notably, Web3Go users can utilize the intelligent data network in trading strategies, trading support bots, education, and entertainment among others.
In addition to the seed funding round, Web3Go has also received funding from different entities seeking to venture into the AI side of blockchain technology.
For instance, Web3Go has been selected by various tech entities including BNB Chain MVB V, AWS Activate, Google Cloud Startup, and Web3 Foundation Grant program to assist in the same sector of AI and blockchain solutions. Last month, Web3Go was selected for the Cyberport Incubation Program, which highlights the company’s position as a key Web3.0 startup supported by the Hong Kong government. The Hong Kong government has already passed crypto-friendly policies to attract international investors seeking to tap into blockchain technology.
Closer Look at Web3Go Market Outlook
The significant backing of Web3Go from Binance Labs and its venture into the Hong Kong market speaks volumes. Notably, the Binance crypto exchange has received serious hostility in the United States, the United Kingdom, and some European countries. With the shrinking Western market, Binance has recently increased its focus in Asian countries with Hong Kong its latest target. Moreover, Hong Kong is the floodgate to the vast Chinese market with a huge gap in crypto and blockchain adoption.
With a keen interest in creator ownership and building the foundational tools for the widespread application of AI and blockchain, Web3Go intends to make digital asset ownership a simple process backed by big data. Moreover, the startup’s native asset creation platform DIN is expected to release its Beta version by the end of this month.
“By leveraging the power of blockchain technology to redefine the paradigm of production relations, the company aims to address the challenge of verifying ownership for AI-native digital assets,” the company noted in a statement.
AI-centric Web3Go Raises $4M in Seed Funding Round Led by Binance Labs
