MagnetAI, the first ModelFi protocol and a trailblazer in artificial intelligence (AI) technology, announces the launch of its leading-edge user-centric AI and Web3 protocol, providing the framework for a new AI economy.
For over eight years, the team behind MagnetAI has been at the forefront of AI innovation, solving the industry’s biggest challenges by fusing the innovations of Web3 technology with AI.
Rethinking AI Economy with OpenAI Use Case
Concerns about monopolization by a few dominant AI players are raising fears of a dystopian future. The open-source AI community is grappling with funding and profitability issues that often overshadow commercially focused projects.
A relevant case study is OpenAI, which has grown from a non-profit organization to a leading AI commercial enterprise. OpenAI, which initially focused on basic research, moved to a hybrid model to attract capital and talent, eventually becoming a purely commercial, profit-driven company. This commercialization is often driven by centralized powers and their resources, resulting in a high degree of centralization in terms of ownership, development and value extraction.
MagnetAI addresses these pressing challenges in the evolution of AI: balancing rapid commercial expansion with decentralized and community-driven initiatives. MagnetAI’s solutions are critical not only for AI but also for the broader societal impact of these technologies.
ModelFi: MagnetAI’s Solution for the AI Economy Lifecycle
MagnetAI proposes the first-ever ModelFi protocol, which enables the trading and sharing of tokenized ownership of AI models, bots, agents and even knowledge bases. ModelFi is an innovative approach to optimizing this lifecycle by leveraging Web3 technologies.
Set to launch in July, MagnetAI introduces the MagnetAI Trinity, a product matrix that comprises three core products: Model Store, Model Economy and Model Network. The product portfolio is designed to support AI projects throughout their economic lifecycle, from initial development to commercialization and profitability.
The MagnetAI Trinity provides a comprehensive product landscape designed to empower AI creators and users to benefit mutually from a decentralized and open AI economy.
1. Model Store:
MagnetAI’s Model Store is a decentralized AI marketplace that connects AI creators and users. It provides a unified bot service interface and features like PricePerMessage, Chat2Earn and Follow2Earn to incentivize users and empower AI creators to gain early traction and generate revenue via paid usage.
2. Model Economy:
The Model Economy allows AI creators to tokenize their products, facilitating rapid fundraising and public investment to secure future development and build an engaged community. Users, on the other hand, can gain ownership rights and revenue share by owning underlying tokens.
3. Model Network:
The Model Network optimizes effective resource usage by providing access to various computing infrastructures. It blends Web2 Clouds, Web3 GPU Sharing platforms and Inference API-driven virtual nodes into a unified framework with a plug-and-play user experience.
MagnetAI’s product strategy promotes sustainable development and encourages continuous improvement and growth of AI projects by providing a decentralized and community-driven approach and ensuring that AI remains open and inclusive.
Transforming AI Economics
Focusing on the economic issues of the AI industry, MagnetAI uses blockchain capabilities to provide a decentralized alternative to the traditional economic lifecycle of AI projects. Aiming to shape a new AI economy, MagnetAI offers a world-first concept that is decentralized, inclusive and driven by a diverse community of stakeholders: ModelFi.
ModelFi applies principles of tokenization to AI models, bots, agents and knowledge bases, which creates financial opportunities for AI developers, users and investors. Beyond financial opportunities and incentives, the platform offers the community the chance to become an important part of their favorite AI products. As model token holders, they can benefit from governance rights, shared revenue and other ownership rights. AI creators, on the other hand, can attract the attention of a community, capture the future value of their products through model token sales, and fund future development.
MagnetAI aims to create a shared economy where different target groups and stakeholders are empowered to collaborate, creating synergies and value that return to stakeholders in a fully transparent manner.
MagnetAI’s Strategic Partnerships
Strategic partnerships with leading financial institutions and technology providers enable MagnetAI to integrate advanced technologies and seamlessly streamline them for its users.
MagnetAI has also completed a $2 million angel funding round and is actively developing its innovative solutions, which are planned to be released in July of this year. The funds will accelerate the development of MagnetAI’s comprehensive suite of products, aiming to empower AI creators and users globally. Join and engage with the MagnetAI community to gain early access.
About MagnetAI:
MagnetAI is a leading technology company in Web3 that combines blockchain-based technology with AI solutions to create a new AI economy. MagnetAI introduces the first ModelFi protocol, providing financial opportunities for AI creators, users and investors through tokenization and the principle of shared ownership of AI services.
