Olas Secures $13.8M Funding to Launch Pearl: World's First Decentralized AI Agent App Store

Olas launches first-ever AI agent store with $13.8M backing

Olas, the AI agent platform enabling independent agents in crypto since 2021, has secured $13.8 million in funding to launch Pearl, the world's first "agent app store." The funding round, led by 1kx, marks a significant achievement in standardizing access to user-owned AI agents and reinforces Olas's position as a frontrunner in the crypto-AI crossroad. Investment and strategic partnerships The funding round attracted an impressive roster of investors, including Tioga Capital, Sigil Fund, Zee Prime Capital, and Spaceship DAO, among others. Notable angel investors, including ML Tech co-founder Leonid Mindyuk, have also joined the investment round, demonstrating strong confidence in Olas's vision for democratized AI ownership. Olas's remarkable growth is evidenced by its processing of over 700,000 transactions monthly, with a consistent growth rate of 30% month-over-month. To date, Olas agents have facilitated more than 3.5 million transactions across nine blockchains, with over 2 million of these occurring between Olas agents themselves. This significant transaction volume stems from diverse use cases, including DeFAI through Modius, social influencer agents via Agents.Fun, and prediction markets through Olas Predict. "Pearl's agent app store represents a significant step forward in democratizing access to AI agents," says David Minarsch, CEO of Olas's core contributor. "By giving everyone AI agents they can not only use, but fully own and customize, we're turning the status quo on its head. At a time when advances in AI can seem increasingly daunting, Olas is uniquely giving control of AI back to the user." Pearl: revolutionizing AI agent accessibility The Pearl app simplifies AI agent ownership, offering a desktop-based solution that allows users to fully control their agents' on-chain activities. Traditional platforms often rely on centralized hosting, but Pearl provides users with true ownership and the ability to oversee their agents' actions in decentralized environments. Minarsch adds, "With Pearl becoming the "agent app store," users can now simply select their preferred agents or customize them further, then sit back and watch the agents work on their behalf. Finally, we are approaching a future where humans don't have to sit glued to technology, but instead have hundreds of agents doing valuable things for them!" Developer support To further enhance its ecosystem, Olas has launched the Olas Accelerator program, designed to support developers building innovative agents on the platform. The program offers up to $1 million in grants, along with OLAS token rewards. Individual developer teams can receive up to $100,000 plus tokens for creating agents that are featured in Pearl. Olas's growth is underpinned by its innovative technology stack, including the Olas Stack for developer support and the Olas Protocol for incentivizing agent creation and co-ownership. The recently launched Olas Staking, featuring the innovative Proof of Active Agent mechanism, has been particularly successful in encouraging network participation by rewarding users when their agents perform useful tasks. For more information about Olas and to experience Pearl firsthand, interested users can visit olas.network. Olas Olas is the platform for co-owning AI. Olas enables everyone to own a share of AI, specifically autonomous agents. One of the first Crypto x AI projects, founded in 2021, Olas offers the composable Olas Stack for developing autonomous AI agents, and the Olas Protocol for incentivizing their creation and co-ownership. Olas' mission is to incentivize and coordinate different parties to launch autonomous agents that form entire AI economies serving all humans. Olas is giving rise to agent economies across major blockchains. In Olas Predict, AI agents predict the future, using state-of-the-art AI models, then apply their predictions to on-chain markets. Disclaimer The information in this article is intended solely for educational and informational purposes. It is not financial advice. Always do your own research before investing in any blockchain or AI projects.

Olas receives $13.8 million in funding, for its app store 'Pearl'

After receiving $13.5 million in funding, Olas made the World's first AI agent app store, Pearl, live as a desktop application. Olas, the 2021 founded Crypto*AI project and a pioneer in creating AI agents enabling automation in the crypto world, made a significant announcement on Tuesday. After receiving $13.5 million in funding organised by 1kxnetwork, it made the World's first AI agent app store, Pearl, live as a desktop application. The funding received was followed up by the launch of $1 million in Grants for Agent developers under the initiative of Olas Accelerator. The $13.5 million funding saw funds coming in from various global Venture Capital funds such as Tioga Capital, Borderless, ARKN Ventures, Generatives Ventures, Metropolis, Keyrock, Smape, Sigil Fund, Zee Prime Capital, Very Early, Perridon Ventures, Spaceship. The core contributor Olas' fundraisers also included selected angel investors - Leo Mindyuk, Co-founder of ML Tech and Nicolas Gallet, CEO of Gallet Capital, The fundraise is set to be used for accelerating the scaling of Olas' agent app store - Pearl. It will also be used to enhance the development of decentralized AI agents and their integration in the crypto world - making crypto actions more faster and automated. The customizable decentralised AI agents available on Pearl aim to provide users the complete decentralised ownership of their own AI agents, suited to their specific needs. By staking OLAS tokens, the AI agents enable automatic working for specific tasks set out by the developers. The work that can be automated by the AI agents include DeFi trading, analysing data to make informed predictions in prediction markets, say Polygon and Kaishi, or can also be used to manage and automate social media handles. The open source framework of Ola stack is used by the developers for the creation, deployment and management of autonomous AI agents. Currently, the AI agents that can be set up at Olas include: By using Proof-of-Active-Agent (PoAA) - a combination of Proof of Work (PoW) nd Proof of Stake (PoS) mechanisms - Olas has facilitated over 3 million agent transactions to date, with growth rate of 30%+ MoM. The Ethereum co-founder, Vitalik Buterin, has also backed the AI agents, arguing that such agents would be 'ubiquitous' in prediction markets. Moreover, the rewards mechnaism introduced by Olas last year, in the form of OLAS token, for useful agent activity is also incentivising the development of AI agents. David Minarsch, CEO of Olas said, "Pearl's agent app store represents a significant step forward in democratizing access to AI agents. By giving everyone AI agents they can not only use, but fully own and customize, we're turning the status quo on its head. At a time when advances in AI can seem increasingly daunting, Olas is uniquely giving control of AI back to the user." And now, the 10 seats that are available under the Olas Accelerator initiative - to fund 10 teams rewards worth $100K for developing AI agents for Pearl - is set to accelerate the creativity of Agent Developers by coming up of innovation and new agents. In the time when AI seems to be becoming monopolist, centralised and dominating in nature, AI agents offered by the OLAS can possibly make best efforts in giving the ownership and benefits of AI in user's hands.

Olas raises $13.8M to launch decentralized app store for AI agents - SiliconANGLE

Olas raises $13.8M to launch decentralized app store for AI agents Olas announced Tuesday it raised $13.8 million to launch Pearl, a blockchain-based decentralized artificial intelligence agent marketplace. The round was led by 1kx with participation from Tioga Capital, Sigil Fund, Zee Prime Capital, and Spaceship DAO. Olas, also Autonolas DAO, launched a platform for autonomous AI agents in 2021 within the blockchain and crypto industry. AI agents are a type of software that can perform tasks and makes decisions with little or no human intervention. They can collect data, analyze it and use it to take action independently based on predetermined goals. The vision of Olas by launching Pearl is to provide users the opportunity to "co-own" the very AI agents that they build and launch. Unlike traditional AI services, which are centralized to one service, Olas uses blockchain technology, which spreads transactions and processing across decentralized nodes. Decentralized agents are split up into multiple agent instances, each run by different operators. The company says that due to the open-source code and consensus mechanism of blockchain technology ensures high transparency and robustness. Olas also provides sovereign agents, which are lightweight agents that anyone can run locally or in the cloud. According to the company they are simple and have a low operating cost for small scale operations that don't need extensive coordination. "Pearl's agent app store represents a significant step forward in democratizing access to AI agents," said David Minarsch, Olas project member and chief executive of Olas core contributor Valory AG. "By giving everyone AI agents they can not only use, but fully own and customize, we're turning the status quo on its head. At a time when advances in AI can seem increasingly daunting, Olas is uniquely giving control of AI back to the user." Pearl works as a desktop app that allows users to own and operate their own autonomous Olas AI agents that allows them to control them on the blockchain for different use cases. This includes autonomous social media accounts or trading cryptocurrency. Olas revealed that its agents are currently doing over 700,000 transactions per month and growing at a rate of 30% month over month. Its agents have powered over 3.5 million transactions across nine blockchains, with 2 million of those transactions happening between Olas agents themselves. Alongside the announcement, Olas said it is launching an accelerator program offering up to $1 million in grants. Developers may submit agent proposals for integration into Pearl and a user adoption plan. Selected teams may receive awards up to $100,000 for having their agents added to the store, having their agent chosen as most valued, achieving certain milestones and other metrics.