ORA Secures $20M Funding to Advance AI Model Tokenization
Oracle protocol ORA has successfully raised $20 million in a funding round led by Polychian, HF0, and Hashkey Capital, among other investors. This funding will support the development of ORA’s ecosystem, with a particular focus on the research and development of oracles and blockchain infrastructure.
Focus on AI Model Tokenization
ORA is building technology to tokenize artificial intelligence models on the blockchain. The funds will be used to further develop ORA’s optimistic machine learning technology (opML), which allows blockchain to conduct AI model inference while adding layers of verifiability and traceability. This means every AI interaction, including the AI model used, data inputs, and outcomes, is recorded and can be verified.
Initial Model Offering (IMO)
ORA is introducing a new mechanism called Initial Model Offering (IMO) to enable the tokenization of AI models. This mechanism, based on an ERC-20 token, allows anyone who buys a token to own and share the revenue generated by an AI model. Each time an AI model is used onchain, a fee is incurred. This fee is distributed to IMO tokenholders through the ERC-7641 Intrinsic RevShare Token, an ERC-20 extension created by ORA.
Onchain AI Oracle
In April, ORA launched its onchain AI oracle on Optimism’s OP mainnet. The company claims this operational oracle is the only one capable of effectively handling any size AI model. Through optimistic systems and zero-knowledge technology, ORA aims to provide secure and efficient onchain machine learning with privacy-preserving features.
Applications and Use Cases
Developers are exploring several applications using ORA’s technology. These include processing insurance claims directly onchain based on specific rules, identifying anomalies that deviate from normal patterns, and assisting in dispute resolutions and settlements by examining data to make neutral decisions.
