Sentient Labs, a new player in the artificial intelligence (AI) industry, has made a splash with its unique approach, combining AI and blockchain technology. The startup has already secured $85 million in initial funding to develop its decentralized and open-source platform.
The proposal is not surprising, given the involvement of Sandeep Nailwal, co-founder of Polygon, and his ambitions. Sentient Labs has set its sights on OpenAI and Gemini, aiming to compete with them. What sets this new AI player apart is its unique focus. "We're not just another AI project," explains co-founder Himanshu Tyagi. "We're building an open world through blockchain to achieve transparency and equity."
This significant funding round, led by Founders Fund, Pantera Capital, and Framework Ventures, indicates strong investor confidence in Sentient's vision. The startup plans to use the funds to expand its engineering team and build a developer ecosystem.
At the heart of Sentient's strategy is rewarding community contributions fairly, so that "when our AI is used, everyone who has contributed will be rewarded through the blockchain protocol," said Tyagi.
Sentient's approach is unique, according to Sarah Johnson, blockchain analyst at Tech Futures Institute. "Most crypto-AI projects explore specific use cases for AI in cryptocurrencies. Sentient is changing the script by leveraging what cryptocurrencies can do for AI."
The startup's team plans to launch its testnet within two months, but many are skeptical, citing the monumental task of building a decentralized AI infrastructure that can compete with tech giants. "It's a massive undertaking to build an infrastructure that can compete with the likes of Google and Amazon," notes Mark Chen, a venture capitalist specializing in new AI startups.
