Blockchain Meets AI: Ethereum’s Early Investors Dive into New Era
Investment firm cyber.Fund, known for its early support of Ethereum (ETH), has committed $100 million to projects at the intersection of blockchain technology, artificial intelligence (AI), and the Internet of Things (IoT).
With previous investments in Cosmos, Solana, and Polkadot, cyber.Fund aims to foster the growth of the “cybernetic economy,” where blockchain serves as the foundation, according to a recent press release .
The firm defines the cybernetic economy as an interconnected and automated economic framework that converges blockchain, AI, and IoT.
The move comes as AI-based tokens gained traction within the cryptocurrency industry, buoyed by the success of mainstream AI tools like ChatGPT earlier this year.
The increasing convergence between blockchain and artificial intelligence has sparked predictions of a potential bull cycle in the near future.
“The cybernetic economy represents a new era of innovation and collective growth, and we at cyber.Fund are fully prepared to be at the forefront of this transformation,” Konstantin Lomashuk, co-founder of cyber.Fund, said.
By channeling significant investment into projects at the intersection of blockchain, AI, and IoT, cyber.Fund aims to drive advancements in these fields and shape the evolution of the cybernetic economy.
Back in June, Coinbase released a research report stating that the intersection of artificial intelligence and blockchain represents a major opportunity for entrepreneurs.
At the time, the largest US-based cryptocurrency exchange highlighted the benefits of combining both techs to create new solutions for societal challenges presented by AI.
“As applications within AI and blockchain mature, the disruptions these technologies
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