Radix and Fetch.ai Are Launching Major Initiatives in the Crypto and AI Sectors

Aug. 29, 2024. 1 min. read.

6 Interactions

Radix is set to establish a significant $37 million Endowment Fund to bolster long-term growth within its ecosystem, marking a major financial commitment to the development of its distributed ledger technology. Known for its native assets termed “resources,” Radix plans to entrust the fund’s management to an institution with over $1 billion in crypto assets. The team states, “The fund is intended to support long term ecosystem growth while securing financial support for the entities involved in the development and growth of the Radix platform and ecosystem.” The chosen partner will utilize Copper Custody for asset holding and Twinstake for staking infrastructure.

Concurrently, Fetch.ai has announced the opening of an Innovation Lab in San Francisco, with an annual investment of $10 million dedicated to projects that develop AI agent solutions. This initiative is part of Fetch.ai’s broader strategy to enhance autonomous digital ecosystems. “This new center will drive the development of AI agent solutions that provide real value to businesses and consumers globally,” said the Fetch.ai team.

Adding to the technological advancements, Sony is venturing into blockchain technology with the launch of ‘Soneium,’ a layer-2 network built atop the Ethereum blockchain. Known for iconic products like the Walkman, Sony Block Solutions Labs, in collaboration with Startale Labs of Singapore, aims to leverage the Optimism blockchain ecosystem’s OP Stack for this project, signaling a new direction for the electronics giant in the crypto space.

Source: Protocol Village: Radix Plans $37M Endowment Fund, Fetch.ai Starts San Francisco Innovation Lab

About the Writer

ABHIDHA

21.92738 MPXR

Experienced content writer specializing in digital marketing and SEO. Skilled in crafting engaging content that boosts brand visibility and drives conversions. Passionate about storytelling and content strategy.