Edge Matrix Chain (EMC) Funding Round

Edge Matrix Chain (EMC), a multichain infrastructure, has raised $20 million in a funding round led by Polygon Ventures and Amber Group.

Investors

The project reported participation from several investors, including:
– One Comma
– Kapley Judge and Associated Corporations
– Cyberrock Venture Fund
– Candaq Fintech Group
– Hameem Raees Chowdhury

Fund Utilization

EMC intends to use the newly raised funds to launch its Layer 1 blockchain, which focuses on applications designed for artificial intelligence. The blockchain is intended to:
– Scale and support GPU compute for crypto AI projects
– Introduce a new DeFi asset class backed by tokenized real-world GPU resources

New DeFi Asset Class

The project proposes a new DeFi asset class that aims to leverage tokenized H100 Tensor Core GPUs developed by Nvidia. With this, users would benefit from returns generated by outsourcing on-chain GPU resources.

Testnet Program

EMC has initiated a two-month public testnet incentive program on August 17 and plans to allocate a $5 million prize pool through two stages of incentive programs.