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Key Notes
- The investment will help Vana develop its DataDAO ecosystem, incentivize data contributors, and accelerate adoption across its existing 16 DataDAOs.
- This strategic move represents YZi Labs' expansion beyond Web3 into AI and biotech, focusing on data sovereignty issues in artificial intelligence.
- VANA token surged 20% following the announcement, trading at $7.5 with increased trading volume, despite being down 77% over the past two months.
YZi Labs, a top-tier venture capital firm formerly known as Binance Labs, has announced the first strategic investment into artificial Intelligence through the Vana (VANA) blockchain. Changpeng Zhao (CZ), co-founder of Binance Holdings, will join the Vana layer one (L1) chain as an advisor to aid the team in navigating through the global AI and blockchain industry.
Furthermore, Vana blockchain intends to develop and expand its DataDAO ecosystem with the newly acquired funds. Additionally, the newly raised funds will help the network accelerate the adoption of its 16 DataDAOs, incentivize new data contributors, and onboard more DataDAOs, among other developments.
“Data is a competitive advantage when it comes to training next-generation AI. As the space becomes increasingly dynamic, new entrants like DeepSeek are rapidly shaking up the status quo. Competing at this pace requires continuous access to high-quality private data, and that’s exactly where Vana comes in: we connect researchers and developers to the datasets that fuel AI innovation across industries,” Anna Kazlauskas, Creator of Vana, noted.
Binance Expands Beyond Web3 into AI Via Vana
The strategic investment into the Vana network will help YZi labs and the entire Binance ecosystem expand into the fast-growing intersection of AI and blockchain technology. In August 2024, Binance announced a strategic investment in Sahara AI and MyShell (SHELL) to enhance the adoption of AI by web3 users.
“YZi Labs has expanded its focus beyond Web3 to include investments in AI and biotech, reflecting our commitment to pushing the boundaries of transformative innovation. Data sovereignty is becoming a critical issue as AI advances, and Vana is pioneering a model where individuals retain control over their data while enabling groundbreaking AI research.,” Andy Chang, Investment Director at YZi Labs, noted.
The strategic investment will strengthen both entities’ business outlooks amid the mainstream adoption of web3 protocols, digital assets, and AI technology. Following the announcement, VANA price rallied over 20 percent to trade about $7.5 on Monday, February 24, during the mid-New York session.
The small-cap altcoin, with a fully diluted valuation of about $933 million, recorded a 250 percent surge in its 24-hour average traded volume to about $174 million at the time of this writing. The recent rally is, however, far from obliterating the losses made in the past two months of about 77 percent drop.
Vana network is well positioned to grow exponentially with the support from YZi Labs and insights from CZ. According to Vanascan, the network has amassed nearly 1.3 million addresses, which have transacted over 35.4 million times.
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