Binance Smart Chain Growth Fund Backs Althea AI

Alethea Binance

Alethea AI reports in a blog post they received an investment from Binance Smart Chain (BSC) through BSC’s recently launched $1 Billion USD growth fund.

Exact terms of the Token purchase were not released, but Arif Khan, Alethea AI CEO and co-founder, writes the backing will help the company grow its ecosystem, which is based on interactive non-fungible tokens, or NFTs.

“We are confident that BSC will help us grow and evolve the ecosystem of the world’s first Intelligent Metaverse, Noah’s Ark,” writes Khan. “Binance Smart Chain is collaborating with Alethea AI on metaverse partnerships, strategic NFT ecosystem enablement, and joint marketing and education of AI and NFTs. As part of the new initiative, Binance Smart Chain has purchased an undisclosed number of ALI tokens.”

Alethea AI is building an “intelligent Metaverse” inhabited by Intelligent and Interactive NFTs. Community members can Create, Train and Earn from their iNFTs in the intelligent Metaverse named Noah’s Ark, according to the company.

“We’re just at the beginning of discovering what NFTs can truly enable. Alethea AI is at the forefront of creating the next evolution of NFTs and metaverses and we’re excited to see this enrichment of the BSC ecosystem as well as all our experiences online,” Gwendolyn Regina, Investment Director of Binance Smart Chain growth fund.

The investment represents a significant boost to the reputation of Alethea AI’s approach to the Metaverse, Khan added.

“It is an honor to join Binance’s incredible ecosystem, Binance has an incredibly deep bench of Tier-1 Projects in its ecosystem and as more Metaverses develop, we are confident that interactive, intelligent NFTs will play a critical role in elevating the consumer and gaming experience. I am confident that this Token purchase will only improve and expand our Intelligent Metaverse, Noah’s Ark.” said Khan.

The post also details a list of the company’s organization’s accomplishments in 2021.

 In June, the first intelligent NFT (iNFT), Alice, was sold through Sotheby’s for almost half a million USD.

“The hypnotic allure of the personality behind Alice, and the birth of the concept of an intelligent NFT, resonated across the NFT community,” writes Khan. “Alice demonstrated the early potential of iNFTs, a harbinger of what was to come as Alethea AI would soon break OpenSea’s records with our first collections.”

In October, the company launched the Intelligent Collectibles: The Revenants, through an open auction model, selling for approximately 2400 ETH in primary and secondary market sales and  becoming a top 10 collection on OpenSea.

Alethea AI then launched iNFT Personality Pods, which allow NFT owners to fuse their existing NFT with a Personality Pod to bring it to life.

“The Generation 1 Pods have attained a democratic distribution of almost 5000 owners, and over 70% of Pods were staked during our first ever Intelligence Staking Event.,” Khan writes. “We have seen our community on twitter and discord grow in size and strength, and are confident that we are building a metaverse backed by thoughtful and committed Aletheans.”

Matt Swayne

Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses.

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