Network3 Announces TGE on IoTeX: DePIN X AI

Network3’s vision for a dedicated AI layer-2 is becoming real with the launch of their $N3 token on the IoTeX network. Network3, which boasts nearly 100,000 nodes (and growing rapidly), provides services to AI developers worldwide. Helping them train and validate models at scale through AI model optimization and compression, federated learning, edge computing and confidential computing.

The IoTeX DePIN ecosystem is thrilled to welcome Network3, a transformative addition that expands the potential applications of DePIN technology to promote a more robust and decentralized AI ecosystem. This collaboration exemplifies IoTeX's unwavering commitment to its vision: DePIN technology accessible and beneficial to all.

What is Network3?

The greatest technological transformations of this millennium are AI and Web3. Network3 sits at their intersection, leveraging the decentralized incentive and coordination mechanisms of web-3 to build a global network of decentralized nodes to train models from independent developers that can compete with centralized AI mega-corps like OpenAI and Google.

DePIN is uniquely positioned to decentralize the value and infrastructure underpinning the AI race. AI model training is an eleven-figure industry in its own right, and demand for compute is outstripping supply, and the primary GPU manufacturer, Nvidia, is a $2+ trillion business. Network3 helps address the problem of compute supply and centralized hegemony by harnessing the power of home computers, cell-phones and IoT devices for decentralized AI model training, ensuring privacy while incentivizing users with tokens for their contributions.

Network3’s use of “Federated Learning,” which splits up models to a large swath of independent training devices, perserves data privacy while leveraging the resources of the crowd. Network3 envisions making edge AI mainstream, thereby reducing reliance on centralized infrastructures and democratizing access to AI technologies.

Network3’s marriage with Web3 extends beyond technology; it’s an alignment with the core principles of decentralization, user empowerment, and transparency. This symbiotic relationship introduces innovative solutions for decentralized finance (DeFi), non-fungible tokens (NFTs), and the creator economy, enriching the Web3 ecosystem.

IoTeX as the AI X DePIN Enabler

Network3's minting of their $N3 token on IoTeX is a strategic power play for achieving their ambitious goals. Network3 said:

"IoTeX's modular infrastructure streamlines go-to-market, making them a launchpad for success. The DePIN Liquidity Hub offers a one-stop shop for DEPIN asset trading, ensuring smooth liquidity. They're deeply embedded in the DePIN community, having actively contributed since 2017. As a trusted partner, they're instrumental in both the network's launch and ongoing expansion."

Network3's choice isn't random. IoTeX's unwavering commitment to DePIN stretches back three crypto cycles – a testament to their dedication. Together, we are not just tackling the technical hurdles of decentralized compute; we are spearheading the charge in DePIN x AI innovation.

Riding the DePINSurf Wave

Network3 is a member of DePIN Surf cohort 1. DePIN Surf is the industry’s first DePIN-focused accelerator built by IoTeX in partnership with FutureMoneyGroup and ForesightX. Cohort 1 launched at ETHDenver, 2024 and features eight elite seed stage projects preparing for their global network launches. The accelerator deploys $50k directly into each company while connecting founders with the largest DePIN VC network in the world to hit their fundraising goals.

You can watch their full presentation on the R3al World Stage here:

DePIN Surf specializes in helping seed stage DePIN founders fundraise and exponentially grow their communities. Above all, joining the accelerator means joining a trusted community of founder peers that helps everyone to go faster together. Cohort 2 applications are open now.

About IoTeX

IoTeX is DePIN's only modular infrastructure platform connecting smart devices and real-world data to blockchains. IoTeX's middleware solution W3bstream provides the computation and verification of real-world data, bringing it on-chain while offering the modularity and customizability builders need to facilitate mass adoption. As the leading provider of DePIN infrastructure, IoTeX facilitates new rewards from devices and on/off-chain activity for users, turns personal devices into communal economies, and tokenizes the "data of everything." Backed by a global team of 60+ research scientists and engineers, IoTeX combines its EVM-compatible L1 blockchain, off-chain compute middleware, and open hardware to connect billions of smart devices, machines and sensors, and dApps across the physical and digital world.