Neuromation, a blockchain and distributed synthetic data platform for deep learning applications, has sold out of its issued Neurotokens (NTK) after just 8 hours of public sale.
The public sale along with the preliminary sales period resulted in 60 million Neurotokens sold for a total of $50 million USD. The contributions were collected in Etherium, Bitcoin, and other major altcoins. Participants from 89 countries registered on the platform during this period, highlighting Neuromation’s global reach.
The issued Neurotokens will be used by companies requiring AI solutions as a currency for payment for miners’ services. Token holders will be able to use them for payments for services on the Neuromation platform, and trade them through cryptocurrency exchanges.
“Thanks to Neuromation’s global reach we’re closer than ever to implementing our vision of a more democratized AI community.” said Maxim Prasolov, Neuromation’s Chief Executive. “Granting Let’s Enhance with computing power was our first step toward this goal and our next will be donating 10% of token sale proceeds as grants toward AI start-ups and neural network researchers”.
An addition to giving back to the AI community as a whole, Neuromation will use funds raised to build its platform which will quickly become the chosen destination for AI services for the world’s leading businesses.
The platform’s first version is slated to be available till the end of first quarter 2018.