What is LayerAI?
LayerAI is a blockchain platform applying AI to help users earn money through data. It combines features of zkRollup layer 2 and AI processing tools (Data-to-AI-Engine) to maximize platform efficiency, aiming to build the world's most powerful data trading market in the Web3 world.
User data on LayerAI is stored in a decentralized, secure, and private manner. Users can earn income from personal data autonomously. This project stands out in the recent AI-to-Earn trend.
The project's goal is to apply blockchain technology to various life aspects such as healthcare, supply chain, sports, gaming, etc.
The predecessor of the project is CryptoGPT, transformed into LayerAI: the Internet of AI with an expanded vision from the application infrastructure to the AI technology network. The project's old token, GPT, has been converted into LAI token.
Key features of LayerAI
- Integration of blockchain and artificial intelligence (AI) technology with the support of Zk-Rollups, enabling safe transactions and maximizing earnings potential from data.
- The AI-powered data transformation tool collects, processes, encrypts, and packages data for partners in need. Processed datasets can be used in various fields.
- LayerAI enables users to earn money from personal data instead of being dominated by third parties.
- The LAI Data Market is created for developers and businesses to share authorized data sources with buyers.
- Data Capsules operate as NFTs, serving as the foundation for sustainable platforms, often used directly by end-users.
- LayerVPN is a VPN solution protecting users from security risks, enhancing the safety of personal data.
- Domain provides decentralized domain names.
Some highlighted products
- Alex for Mobile: A decentralized application integrating search tools and a marketplace, allowing mobile users to access the platform anytime, anywhere.
- Alex for Desktop: A data retrieval and search tool with high accuracy and performance. Alex is considered the blockchain version of OpenAI.
- AI2Earn VPN: An NFT-releasing application allowing users to profit from using processed data (Data Capsules). NFTs are classified by level with different privileges and rewards to encourage long-term user engagement with the platform. Users can stake LAI tokens to receive NFTs before June 8.
- KyotoX DEX trading platform: Users can buy LAI tokens, provide liquidity with LAI-USDC trading pairs, and receive additional rewards.
- Data Marketplace: A data trading platform, creating opportunities for global users to buy and sell data.
Detailed information on LAI token
- Token name: LayerAI
- Ticker: LAI
- Standard: ERC-20, BEP-20
- Total supply: 3,000,000,000 LAI
- Self-reported circulating supply: 180,000,000 LAI
- Public and Backers: 20%
- Liquidity, staking, and MM: 20%
- Marketing: 3%
- Treasury: 25%
- Team: 16%
- Partners and Advisors: 6%
- Reserve: 10%
- Governance
- Providing liquidity
- Network operation and rewards
- Rewarding product users
- Token buyback and burn, helping to increase token scarcity
- Staking LAI to receive NFTs, reward tokens, and use them in the ecosystem's products
However, the project's mechanism still carries the risk of token inflation. Although LayerAI focuses on token buyback and burn operations, the effectiveness of this method needs verification based on the platform's performance.
Price fluctuations and exchange
The LAI token is trading at $0.08076, up 24.51% in the last 24 hours and up 640% in just one month. According to Coinmarketcap data, the 24-hour trading volume of LAI increased by 87% to reach $54.35 million. The project's market capitalization is $14.66 million.
Currently, users can buy and sell LAI on popular exchanges such as Bybit, Gate.io, KuCoin, Uniswap V3, PancakeSwap V3, HTX, etc.
Team
The project currently only has information about Dejan E. (co-founder). Dejan E. holds a Bachelor's degree in Telecommunications Engineering from the University of Ljubljana and has worked at Comtrade, Paysafe, Receipt Bank, and Sportradar AG.Dejan E. participates in the crypto market as an advisor, providing technical guidance, smart contract development strategy, application architecture, blockchain tool integration, and services.
Investors and partners
LayerAI raised $1.4 million in its initial development phase.In the funding round in April 2023, the project successfully raised $10 million, attracting the attention of many investors. The Series A round was led by DWF Labs with a valuation of $250 million.
LayerAI quickly develops and introduces new products, establishing partnerships with well-known names such as Polygon, KuCoin, etc.
Roadmap
Key milestones in 2024 include:- Launching the DATUM reward token and beta version for the Money Market
- LayerAI Mainnet and KyotoX Exchange deployment
- Completion of platform products such as Data Marketplace, AI-to-Earn, etc.
Conclusion
The combination of blockchain transparency and AI data processing capabilities helps LayerAI create powerful tools, leveraging the benefits of data from the early days of the AI technology era. As artificial intelligence continues to expand, data competition will further drive the development of LayerAI's market, providing multifaceted benefits for both users and developers.