NEAR Foundation and Delphi Labs Partner on AI x Web3 Accelerator

The NEAR Foundation is excited to partner with Delphi Labs to co-host a new accelerator program for high-potential projects at the intersection of AI and Web3. The new cohort will launch in October and teams with a strong vision for decentralized AI applications and infrastructure are encouraged to apply.

Building on the success of NEAR’s first AI x Web3 incubator, the NEAR x Delphi Labs AI Accelerator will provide participating founders and teams with the technical, operational, and financial resources to succeed—including access to $50k in compute credits, advisory support from the NEAR co-founders, funding opportunities beginning at $100k, and token launch support.

Applications are open until October 4 for teams interested in joining the accelerator, which begins on October 14.

NEAR Foundation and Delphi Labs share the common strategic vision of a User-Owned AI ecosystem, built on Web3 rails, that provides genuinely better alternatives to developers and users than the prevailing model of centralized AI controlled by big tech companies. The goal is to maximize the benefits of AI for people and communities—and minimize the potential risks—by putting the power of AI where it belongs: in the hands of users. 

NEAR is a leading blockchain platform designed to accelerate the development of decentralized applications with a focus on usability and scalability—co-founded by Illia Polosukhin, one of the originators of the transformer architecture underpinning the present AI surge. The NEAR ecosystem vision for User-Owned AI includes building a community of aligned teams where innovations are shared openly, ensuring consistency and interoperability across projects. It also includes supporting development of the robust, open infrastructure needed to build and deploy AI applications on a decentralized network, ensuring that the future of AI is not only owned by users but is scalable, secure, and efficient for businesses and founders.

Delphi Labs, a research and development firm specializing in Web3 and DeFi, brings to the accelerator a deep understanding of blockchain technology and a strong track record of supporting successful projects. 

“Crypto x AI is the sector we’re most excited about and, given how early it is, we thought it made a lot of sense for an accelerator cohort,” explains Delphi Labs co-founder José Macedo. “NEAR is the ideal partner given that Illia is one of the original co-authors of the transformer paper and has an unparalleled understanding and network within AI.” The Delphi team’s conviction is that competitive dynamics will result in a world of millions of AI models and that Web3 is the ideal substrate for this many-model world. They are interested in finding exceptional founders who have a strong vision for how Web3 can benefit from AI, or how AI can benefit from Web3, and want to rapidly execute on this vision.

NEAR and Delphi are co-designing the upcoming accelerator cohort experience, slated to begin October 14 with a live kickoff gathering planned. Each participating team will receive mentorship, resources, and opportunities for investment: $100k in investment from NEAR Foundation, along with $50k in compute credits, and potential investment of up to $250k from Delphi Labs for further incubation or acceleration following the completion of the program. The program culminates mid-December at an investor-focused demo day with several top funds and angels in the space. 

NEAR’s first AI x Web3 incubator cohort, which ran from June to August 2024, saw participants achieve significant early milestones while contributing essential pieces to the growing User-Owned AI stack. These milestones include: Hyperbolic hosting the latest open source AI models, including Llama 3.1 405B; Mizu launching their beta platform and attracting 20K users in the first week; and Pond launching their first GNN model for wallet predictions and achieving a 20% prediction rate. The teams have built on the momentum from the incubator to attract serious seed funding interest, with Hyperbolic successfully closing a $7M round.

In addition to the NEAR x Delphi Labs AI Accelerator Program, the NEAR Foundation has also teamed up with Betaworks on an in-person acceleration cohort in New York City focused on consumer AI applications in the Web2 space. Running through November 2024, the Betaworks collaboration welcomes a wider roster of projects into the growing User-Owned AI ecosystem and opens further opportunities for bridging the Web3 x AI space to Web2 consumer AI.

To learn more about the NEAR ecosystem vision for User-Owned AI, Illia’s perspective on the intersection of AI x Web3, and the Delphi Labs team’s investment thesis in the decentralized AI space, check out Delphi’s new podcast episode. 

To follow along with the latest in the User-Owned AI ecosystem, join the NEAR.AI and HZN teams in Singapore (September) or Bangkok (November) and tune in to NEAR AI Office Hours every Tuesday.