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The Block announces Emergence: join us in Prague December 5-6, 2024. Learn More ✕ · Premium News Connect Try it free News Data Reports Prices Indices Podcasts Events Learn Newsletters Live BTCUSD $65,983.39 0.34% ETHUSD $3,312.17 1.26% LTCUSD $100.99 -4.96% SOLUSD $189.06 2.26% USD EUR GBP JPY Premium News Connect News Data Reports Prices Indices Podcasts Events Learn Newsletters Preferences Dark Mode Cookies Notifications About Us Editorial team Careers Advertise Disclosures Sponsored Press Privacy Policy Terms of Service Security Try it free Latest News RESEARCH UNLOCK: LEVERAGING AI IN GAMES ON NIM NETWORK April 3, 2024, 9:03AM EDT Metaverse & NFT CRYPTO EXCHANGE MONTHLY SPOT VOLUME DOUBLED IN MARCH, REACHING NEARLY $2.5 TRILLION FOR FIRST TIME SINCE 2021 April 3, 2024, 8:18AM EDT Markets FRAX TOKENS TO BE NATIVELY ISSUED ON NOBLE, EXPANDING INTO COSMOS ECOSYSTEM April 3, 2024, 7:00AM EDT Crypto Ecosystems EIGENLAYER AVS GASP RAISES FUNDS AT $80 MILLION TOKEN VALUATION April 3, 2024, 6:05AM EDT Deals KUCOIN MARKET SHARE HALVES ALONGSIDE $1.2 BILLION IN OUTFLOWS AFTER DOJ INDICTMENT AND CFTC CHARGES April 3, 2024, 6:03AM EDT Exchanges See More Latest News THE SCOOP KEEP UP WITH THE LATEST NEWS, TRENDS, CHARTS AND VIEWS ON CRYPTO AND DEFI WITH A NEW BIWEEKLY NEWSLETTER FROM THE BLOCK'S FRANK CHAPARRO By signing-up you agree to our Terms of Service and Privacy Policy EMAIL Also receive The Daily and our weekly Data & Insights newsletters - both are FREE By signing-up you agree to our Terms of Service and Privacy Policy WEB3 AI TRAINING FIRM FLOCK RAISES $6 MILLION IN SEED FUNDING by MK Manoylov Venture Capital • March 28, 2024, 9:01AM EDT Published 1 minute earlier on Share The Block QUICK TAKE * The web3 artificial intelligence training firm FLock raised $6 million in seed funding led by Lightspeed Faction and Tagus Capital. * FLock will use the funds to grow its team and develop an AI training platform powered by federated learning. FLock, a web3 startup that decentralizes artificial intelligence training, raised $6 million in seed funding. Venture firms Lightspeed Faction and Tagus Capital led the round, which included participation from DCG, OKX Ventures and Volt Capital, among others. The seed round brings FLock's total funding raised to $8 million, the firm's CEO Jiahao Sun told The Block. Sun added that FLock's board of directors will not change following the round since FLock is still at a Simple Agreement for Future Equity (SAFE) stage. FLock, intentionally stylized that way, will use the funds to grow its team and develop an AI training platform powered by federated learning — a decentralized machine learning approach that emphasizes data privacy. Sun said FLock uses an open leaderboard to incentivize competition in the machine learning community and sponsored training tasks that set reward criteria for each model. THE SCOOP KEEP UP WITH THE LATEST NEWS, TRENDS, CHARTS AND VIEWS ON CRYPTO AND DEFI WITH A NEW BIWEEKLY NEWSLETTER FROM THE BLOCK'S FRANK CHAPARRO By signing-up you agree to our Terms of Service and Privacy Policy EMAIL Also receive The Daily and our weekly Data & Insights newsletters - both are FREE By signing-up you agree to our Terms of Service and Privacy Policy "As we continue to grow and expand our platform, we are excited to witness the transformative impact of decentralized AI across various industries, from healthcare and finance to education and beyond," Sun said. "We believe that the future of AI lies in the power of decentralized communities, and we are proud to be at the forefront of this revolution." Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. TAGS SEED & PRE-SEED Share ABOUT AUTHOR MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn. EDITOR To contact the editor of this story: Lawrence Lewitinn at llewitinn@theblock.co MORE BY MK MANOYLOV PARADIGM IN TALKS OF RAISING UP TO $850 MILLION FOR NEW CRYPTO FUND: REPORT April 2, 2024, 4:16PM EDT Companies DRAGONFLY LEADS $12 MILLION SEED ROUND FOR STABLECOIN ISSUER AGORA: REPORT April 2, 2024, 1:39PM EDT Venture Capital GMCI 30 DETAILS GM30 144.69 1.10% GMCI L1 DETAILS GML1 150.74 1.96% GMCI L2 DETAILS GML2 122.26 -0.65% GMCI Meme DETAILS GMMEME 325.56 -0.35% See crypto indices Get unlimited access to The Block’s most premium content. WEB3 INFRASTRUCTURE PROVIDER ANKR UNVEILS NEURA BLOCKCHAIN FOR AI STARTUPS 03/26/24 12:00PM EDT Infrastructure See more in access SPONSORED Boom or Bust? Tokenized RWAs in the Face of Easing Interest Rates April 1, 2024, 9:01AM EDT UPHOLD: YOUR DESTINATION FOR CRYPTO TRADING Trade and manage over 265 cryptocurrencies on a transparent and fully reserved platform. Get Started. 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