Chromia announces the establishment of a $20 million ecosystem fund and the launch of a Mainnet upgrade

A certain relational blockchain project announced two important initiatives at a major conference in Singapore: the establishment of a data and artificial intelligence ecosystem fund with a scale of $20 million, and plans to launch a mainnet upgrade codenamed "Asgard."

Data and Artificial Intelligence Ecosystem Fund

As part of the project’s strategy to expand into the data center field and stimulate ecosystem growth, this $20 million fund will be led by its business development manager. The fund aims to support data-intensive projects and artificial intelligence applications, providing developers with an ideal environment to build solutions that can process, analyze, and respond to complex datasets in real time.

The Business Development Director stated: "We believe that any project dealing with large amounts of data requires data cleaning and automation to achieve artificial intelligence." He joined the team in early 2024, having previously served as a portfolio manager at a well-known investment firm.

The project's co-founder added: "By supporting artificial intelligence and other data-centric solutions, we will seek broader partnerships while further expanding the ecosystem in new directions."

"Asgard" Mainnet Upgrade

In addition to the fund, the project also announced a Mainnet upgrade codenamed "Asgard" scheduled for the fourth quarter of 2024. This upgrade will introduce the "Extensions" feature, aimed at bringing customized blockchains with new functionalities to the platform. These extensions will be available for native dApps and external clients, thus enabling the platform's expansion capabilities.

Proposed extended features include: oracle solutions, AI model computation, as well as data availability and zero-knowledge proof support.

Earlier this year, the project officially launched on the Mainnet and utilized an on-chain relational database architecture, which not only achieved effective management of a large amount of interconnected data but also optimized and improved on-chain queries. This architecture allows it to function both as an independent decentralized application platform and as a relational data layer for Web3 projects based on other blockchains.

In addition to supporting gaming projects, the project also plans to enter the data market, further deepening its involvement in gaming and other industries. Currently, the ecosystem fund has begun accepting applications, and the "Asgard" Mainnet upgrade is expected to be launched by the end of this year, with the "expansion" feature also being developed as planned, expected to be fully launched by 2025.