Alset AI Acquires Tokens of World's Largest Decentralized AI Computing Network
Tuesday, Jan 21, 2025 4:07 am ET
3min read Alset AI Ventures Inc. (TSXV:GPUS, OTC:ALSCF) has made a strategic move to acquire tokens of the world's largest decentralized artificial intelligence (AI) computing network, io.net (IO). This acquisition aligns with the company's updated investment policy, which focuses on decentralized AI, quantum AI, quantum computing, and cryptocurrency opportunities. By acquiring IO tokens, Alset AI gains exposure to a cutting-edge AI computing network, positioning itself at the forefront of decentralized AI innovation.
The io.net platform is a decentralized graphic processing unit (GPU) network designed to provide scalable and cost-effective computing power for AI and machine learning applications. Its native cryptocurrency, the IO token, plays a central role in the platform's ecosystem, facilitating transactions, incentivizing participation, and ensuring network security. By aggregating underutilized GPUs from various sources, io.net creates a decentralized network that offers computing power at significantly lower costs compared to traditional cloud providers, democratizing access to high-performance computing for AI-driven innovations.
Alset AI's acquisition of 12,868 IO tokens at an average cost of approximately C$4.30 (USD$3.00) per token, executed through WonderFi Technologies' Bitbuy platform, is a significant milestone in the company's journey to transform how AI is developed and deployed. The fixed supply, disinflationary emissions, and token burn mechanisms of IO tokens are designed to support long-term value appreciation, making this investment a strategic gateway to harnessing the immense potential of decentralized AI.
Alset AI's CEO, Adam Ingrao, expressed his enthusiasm about the acquisition, stating, "Our acquisition of io.net tokens is a significant milestone in our journey to transform how artificial intelligence is developed and deployed, and to integrate io.net's platform with our strategic initiatives... These tokens are more than an investment; they are a gateway to harnessing the immense potential of decentralized AI."
In addition to the io.net token acquisition, Alset AI has also formed a Token Investment Committee to provide governance and strategic guidance for its token-related investments. This committee will ensure that Alset AI's token investments align with its long-term objectives and deliver sustainable value for stakeholders. The company's commitment to a structured and strategic approach to participating in the rapidly evolving decentralized AI landscape is evident in this strategic move to build a balance sheet that includes decentralized opportunities with significant upside possibilities.
Alset AI's acquisition of io.net tokens is a forward-thinking step in its strategy to democratize AI computing infrastructure. By gaining exposure to decentralized technologies that aim to democratize access to AI solutions, Alset AI positions itself to capitalize on new investment opportunities in emerging sectors, ultimately driving growth and development in the AI space. As the demand for decentralized and quantum AI applications accelerates, Alset AI's investment in io.net tokens and its commitment to advancing decentralized ecosystems and supporting scalable, cost-effective AI infrastructure solutions will continue to pay dividends for the company and its stakeholders.
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