- Crunch’s crowdsourcing strategy is producing quantifiable results in actual settings; it is not only theoretical.
- A meritocratic and ever-improving system is ensured by the distribution of rewards only based on performance.
In June, VanEck and Multicoin joined Crunch Lab, the primary contributor to CrunchDAO, in raising $5 million in a strategic investment round headed by Road Capital and Galaxy Ventures. After its 2024 seed round of $3.5 million, the total fundraising now stands at $10 million.
For prestigious organizations like the Abu Dhabi Investment Authority (ADIA) Research Lab and the Broad Institute of MIT and Harvard, Crunch Lab’s decentralized network has already produced double-digit accuracy gains. Through structured modeling challenges called Crunches, businesses can now access CrunchDAO’s network of 10,000+ machine learning engineers and 1,200+ PhDs without having to spend $100M+ to hire top AI talent.
Proven in Production
Crunch’s crowdsourcing strategy is producing quantifiable results in actual settings; it is not only theoretical:
- ADIA Lab: cross-sectional asset price forecasts have improved by 17%.
- Broad Institute of MIT and Harvard: Significant advancements in computer vision-based cancer gene research.
- FX OTC: A multinational investment bank is now using the crowdsourced mid-market pricing engine Mid+One™, which is being deployed live.
An Advantage of Collective Intelligence
Contributors compete to create the best models as Crunch turns business forecasting issues into encrypted modeling challenges. A meritocratic and ever-improving system is ensured by the distribution of rewards only based on performance.
This is seen by investors as the subsequent tier of decentralized infrastructure:
Expanding Access
Crunch Lab will speed up platform development and enter new markets outside of finance and biological research with this financing. CrunchDAO’s technical methodology and business potential were further validated earlier this year when it was chosen for the second cohort of the Solana Incubator.
Crunch Lab, which brings together top data scientists, ML specialists, and Nobel laureates, is at the forefront of AI research. Its research pushes the boundaries of collective intelligence, giving businesses the ability to use real-time prediction without sacrificing intellectual property or data security.
Through structured Crunches built on Solana, CrunchDAO links more than 10,000 data scientists and AI developers globally, including more than 1,200 PhDs. Across sectors, the protocol allows for the safe crowdsourcing of models that routinely beat conventional in-house teams.
Source: https://thenewscrypto.com/crunch-lab-secures-5-million-to-advance-decentralized-ai-network/
