Solana Foundation Expands Funding for AI Projects to $10M

The Solana Foundation, a non-profit firm that oversees the Solana network, announced Tuesday that it has set up a $10 million grant for the development of AI-focused tools integrated with its mainnet.

On April 25th, the Foundation launched a $1 million grant to finance the integration of AI and its native blockchain network. Open-sourced projects harnessing the Solana network were eligible to claim portions of the grant. However, the latest upgrade to $10 million shows the firms’ interest in building blockchain-based services with machine learning models.

Solana Foundation Deepens Involvement With AI

The Foundation stated that the latest grant program had received 50 applications. It added that new and existing projects could apply for the grant with the specific amount they need and the purpose for needing the fund.

The three-month-long accelerator program is being hosted by the Solana Foundation and is designed to train university students, project developers, and other contributors. The program has birthed AI tools that help bootstrap ecosystem projects’ security and answer questions about the network’s development.

Solana Labs Unveils ChatGPT Plugin

As Solana Foundation is pulling strings towards adopting AI, other facets of its ecosystem are not left out. Solana Labs, the engine house for Solana-based products, recently unveiled a ChatGPT plugin available on GitHub.

The plugin enables a cohort of features such as trading of non-fungible tokens, token transfer, transaction inspection, interpretation of public account data, and sourcing for NFT collections by floor (lowest) price.

Emphasizing the breakthrough the integration of AI and blockchain will create, Solana Labs CEO Anatoly Yakovenko stated:

“Every developer building consumer-oriented apps should be thinking about how their app is going to be interacted with through an AI model because this is a new paradigm for telling computers what to do. AI will make Solana more usable and understandable.”

Meanwhile, the native asset for the Solana ecosystem, SOL, did not see significant price action following the news about the grant program expansion. SOL currently trades at $20.

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