NEAR Announces Ambitious AI Model: Price Surges Following Major Reveal
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Nov 10 2024Near Protocol's AI Model Announcement: Near Protocol announced plans to develop the world's largest open-source AI model with 1.4 trillion parameters, significantly larger than Meta's Llama model, leading to a 10% increase in NEAR's price. The project will involve community contributions and is set to begin with a smaller model training phase on November 10.
Funding and Business Model: The development, estimated at $160 million, will be funded through altcoin sales, with token holders receiving dividends from the model's inference processes, creating a sustainable business model for future developments in AI and blockchain integration.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
