io.net partners with Injective to revolutionize blockchain AI computing, combining decentralized infrastructure with iAgent framework for enhanced capabilities.
Amid the mainstream adoption of Artificial Intelligence (AI) technology in the blockchain space, io.net (IO), a top-tier decentralized AI computing network, has announced a strategic partnership with Injective INJ $8.09 24h volatility: 3.4% Market cap: $789.87 M Vol. 24h: $55.12 M , a fast-growing layer one (L1) blockchain. Following the strategic collaboration, the two companies will explore ways to enhance their products through the intersection of AI and blockchain tech.
As for Injective, the recently launched iAgent will leverage io.net’s vast decentralized computing infrastructure, which consists of more than 10k GPUs and CPUs.
According to the announcement, the collaboration between the two entities seeks to provide AI practitioners with the necessary tools to train and deploy machine learning models via decentralized systems.
“This collaboration reflects our shared goal of creating practical solutions for developers and engineers. By combining io.net’s decentralized compute infrastructure with Injective’s AI agent frameworks and tools, we aim to address key challenges in the AI and blockchain space by lowering barriers to entry for builders everywhere,” Tausif Ahmed, Chief Business Development Officer of io.net, noted.
According to Eric Chen, CEO and co-founder of Injective Labs, the iAgent will aggressively compete with other similar products in the market through the strategic partnership with io.net.
“AI using blockchain rails has exploded in recent months, and we’re thrilled to see increasing adoption of iAgent bringing AI on-chain […] Now having io.net’s support with their decentralized compute platform to serve on-chain AI developer’s needs, can further expand the use cases and innovation in the burgeoning DeFAI sector,” Chen noted.
Market Impact of the Injective and io.net Partnership
The strategic partnership between io.net and the Injective network will have a long-term impact on the respective tokens and on-chain activities. As for the Injective network, it has grown to a vibrant Web3 ecosystem, with a total value locked (TVL) of about $46 million and a stablecoins market cap of around $34 million.
Following the collaboration announcement, the INJ coin rallied nearly 10 percent in the last 24 hours to trade at about $20.88 at the time of this writing. The mid-cap altcoin, with a fully diluted valuation of about $2 billion and a 24-hour average trading volume of about $108 million, has been forming a macrobullish pattern after being trapped in a bearish trend since mid-March 2024.
On the other hand, the IO coin rallied around 6.9 percent in the past 24 hours to trade at about $2.94 at the time of this writing. The small-cap altcoin, with a fully diluted valuation of about $396 million and a 24-hour average trading volume of about $88 million, has been attempting a bullish recovery since the November 5, 2024, crypto rebound.
The strategic partnership will significantly increase the projects’ on-chain activities, which will have a bullish impact in the long haul.
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