KIP Protocol, a Web3 infrastructure protocol focused on AI, has completed a strategic round of funding led by Animoca Ventures.
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KIP Protocol, a Web3 infrastructure protocol focused on AI, has completed a strategic round of funding led by Animoca Ventures.
The first dApp on KIP Protocol is planned to launch in the first or second quarter of 2024.
Navigating Web3 tides with focused insights"KIP Protocol, a foundational Web3 protocol focused on AI, has successfully completed a strategic funding round led by Animoca Ventures."
Hong Kong, February 1, 2024 — KIP Protocol, a foundational Web3 protocol dedicated to AI, has successfully completed a strategic funding round led by Animoca Ventures.
KIP Protocol is building a secure and efficient foundational Web3 infrastructure that enables AI creators (data owners, model developers, and AI application builders) to:
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Deploy their work on Web3 and retain full digital ownership
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Interact and transact with other AI assets
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Monetize without losing access control
AI app developers can use KIP Protocol to easily build decentralized applications connected to various models—whether on-chain or off-chain—retrieve data from decentralized knowledge bases to deliver retrieval-augmented generative services, and automatically distribute user revenue transparently to all on-chain contributors. An early alpha version of the KIP Protocol code won an award at Chainlink's 2023 Fall Hackathon.
The core mission of KIP Protocol is to establish a diverse commercial ecosystem composed of different partners (data owners, model developers, and AI application creators), enabling them to freely collaborate and innovate on top of KIP Protocol—freeing the AI landscape from the growing monopolization by tech giants.
This funding round, led by Animoca Ventures, also attracted diverse participation from investment DAOs, Web3 community leaders, and funds across multiple regions, including B.Army (Vietnam), CSP DAO (Europe, Middle East, and Africa), MQdao, Spicy Capital (Latin America), Skyvision Capital (Hong Kong), and Purechain Capital (UK). This reflects KIP Protocol’s effort to bring its foundational protocol to AI creators and Web3 users worldwide.
Project Vision: Advancing Decentralized AI
KIP Protocol aims to protect the digital ownership rights of AI creators through Web3, providing every AI creator with a fair path to monetization.
James Ho, lead at Animoca Ventures, commented: “KIP Protocol seeks to provide a more competitive and equitable business environment for all AI creators—a goal closely aligned with Animoca’s vision of building a fairer internet grounded in true digital ownership. Animoca Ventures is committed to identifying and supporting innovative new teams in the Web3 space, and the KIP Protocol team brings deep practical experience in AI technology, Web3, and commercial exploration. We are thrilled to be early supporters.”
Dr. Jennifer Dodgson, Chief AI Scientist and Co-founder of KIP Protocol, added: “We believe AI progresses fastest through inexpensive, small-scale experimentation and iterative improvement. With support from Animoca Ventures, our goal is to create a future where everyone has the potential to build the next GPT.”
Julian Peh, CEO and Co-founder of KIP Protocol, said: “AI may be the most powerful technological force driving human progress in the future. It shouldn’t only be tech giants who benefit—each of us should be able to gain economically from the AI-driven era. KIP Protocol was created to provide all AI creators with a fair, efficient, and healthy commercial ecosystem. We thank Animoca Ventures and our global investor network for supporting our mission.”
KIP Protocol is building a three-layer architecture powered by the $KIP token to protect the digital ownership rights of all key stakeholders (data owners, model developers, and AI application creators), enabling them to monetize securely, reliably, and efficiently—positioning KIP as a catalyst for the decentralized AI movement.
The first dApp on KIP Protocol is planned for launch in Q1 or Q2 of 2024.
About KIP Protocol
KIP Protocol builds foundational Web3 infrastructure for AI app developers, model creators, and data owners, enabling AI assets to be easily deployed and monetized while preserving full digital ownership.
KIP aims to establish a new AI business ecosystem to address challenges in decentralized AI deployment and ensure everyone can benefit economically from AI advancements.
The KIP team brings together seasoned PhDs and technical experts who have been working on AI research since 2019, with deep expertise and extensive experience in the Web3 domain, committed to advancing AI decentralization and serving as an accelerator for the decentralized AI wave.
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About Animoca Ventures
Animoca Ventures is the venture capital arm of global industry leader Animoca Brands, focused on discovering, funding, and supporting builders at the forefront of Web3 who will become the internet giants of the future.
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