AiFi Summit 2024 concludes successfully, TOKEN2049 wonderful review

The AiFi Summit 2024 Token2049, held at the Grand Hyatt Singapore on September 17th, was successfully concluded. During the event, there were over 2,000 sign-ups from top funds and projects, over 800 attendees, and more than 40 project parties in attendance.

Nansen’s CEO Alex was invited to give a keynote speech on “Compute/AI DePIN vs Alternative Yield-bearing On-chain Assets”, analyzing the asset attributes of Decentralized Finance, Non-fungible Token, Node, and DePIN from the perspectives of development potential, underlying yield, and asset liquidity. It concludes that Computing Power hardware is a new underlying yield-bearing asset, which conservatively estimates to bring over 30% APR to on-chain. GAIB CEO Kony also shared how to tokenize and stake Computing Power assets through GPUs in the AI era, and analogized it to ETH wrapped as stETH and restaked, explaining how GAIB becomes the economic layer of AI. Jialin Li, Co-founder of Hetu Protocol, and Jiaheng Zhang, Co-founder and Chief Scientist of Polyhedra Network, also delivered keynote speeches on the role of their respective projects in the AI ecosystem.

The first roundtable discussion at AiFi Summit is on “AiFi: Financialization of AI & Compute Assets”. Core members from the GAIB, ORA, Plume, MetaStreet, and Aspecta teams discussed the definition of AiFi, how the issuance of AI-related assets solves problems that traditional industries cannot solve, and how AiFi integrates with existing Decentralized Finance infrastructure. GAIB CTO Jun mentioned that the blockchain itself is a financial layer, providing liquidity, and AiFi actually injects liquidity into AI-related assets, bringing underlying returns to on-chain assets, which is more reasonable than some projects combining AI with crypto.

The second round table discussion focuses on the opportunities and challenges in Decentralization Computing Power. Project leaders from Aethir, Akash, Hetu, Pingpong, Kaisar, and others discussed the advantages of Decentralization computing over centralized clusters and the financial convenience it brings to users and Computing Power holders. Kartik Jain, the ecology manager of Aethir, believes that the entry cost of centralized clusters is currently high and easily leads to supply-demand imbalances. However, the Decentralization Computing Power network can better balance this and drop the entry barrier for AI startups. Rosie, the CEO of Ping Pong, also stated that DePIN aggregator can inject liquidity into Computing Power and other DePIN projects, improving efficiency from both supply and demand sides.

In the third roundtable discussion, project builders from Codatta, OpenLedger, Zettablock, and SuperAlignment raised insights on synthetic data, how to ensure the privacy of data providers, and how to set economic incentives to promote the generation of high-quality data in the network. Codatta CEO Yi stated that truly cutting-edge high-quality data comes from experts and is private data. Codatta will assess data contributors at different levels to evaluate the quality of the data they provide, thereby promoting the training of AI models.

The fourth round table discussion focused on the infrastructure for the next generation of AI, including discussions on the DA (Data Availability) layer, computing layer, and creator economy layer, etc. Ming Wu, CTO of 0G Labs, also mentioned that 0G serves as the DA layer for Programmability, where the DA here differs from the traditional meaning of DA in blockchain. In fact, it provides the infrastructure for data storage for on-chain AI model construction, and looks forward to the emergence of more infrastructure to provide security for more native AI Dapps.

The guests of the fifth roundtable discussion also offered profound insights on the cross-application of AI and Crypto. Isabella, co-founder of dappOS, expressed that it is crucial to articulate the applications and vision of crypto x AI in traditional web2 language, and to persist in building, even in the face of a small number of users, in order to take a crucial step towards mass adoption.

The community partner AiFi Consortium, which supports the AiFi Summit, will continue to support the development of the AiFi ecosystem and produce a series of research reports to promote further collaboration between AI projects.

About AiFi Summit

The event, jointly organized by GAIB, Codatta, PingPong, and GamePlus, focuses on discussing how to promote the financialization of AI through blockchain technology (AiFi), and is one of the official merch activities of Token2049.

Thanks to leading investment institutions such as Hack VC, Faction VC, Hashed, The Spartan Group, L2IV, CMCC Global, CoinFund, MH Ventures, Paramita VC, as well as the participation and support from project parties like Polyhedra, Hyperbolic, dappOS, Aethir, Talus, Nimble, Plume, Akash, Public AI, Mira, Open Ledger, Orochi, Super Alignment, Kaisar, ZettaBlock, Metastreet, Ora, IO.net, 0G Labs, Sahara AI, Movement, Monad, Nansen, Aspecta, DNA House, Witness Chain, Exocore, etc.