This can be a section from the Lightspeed e-newsletter. To learn full editions, subscribe.
Crypto is way ado about AI today, and two Solana startups just lately closed funding rounds for companies merging AI with social functions.
Social graph protocol Tapestry introduced a $5.75 million Sequence A led by Union Sq. Ventures and Cloth Ventures, and Oh raised $4.5 million in seed funding to “construct AI brokers for the spicy content material business.” The pair of fundraises each got here with expansive concepts about the way forward for AI — and the way people can nonetheless stake a declare to that future.
Tapestry is concentrated on creating onchain social graphs, which describes a person and all their connections on-line. The protocol takes social profile and connection information and shops it onchain utilizing the identical technological concepts as Solana’s compressed NFTs, which is how the social app DRiP makes its blockchain utilization cost-effective, as an illustration.
Decentralized social graphs are a preferred concept in crypto. Aave founder Stani Kulechov began Lens, which lets customers personal their social graphs on Ethereum. The favored crypto social app Farcaster does one thing related. Typically, these initiatives are constructed round the concept that social media customers ought to personal their information relatively than let their information be monetized by another person, as is the case with legacy social media.
With one Tapestry account, a consumer may signal into any platform with social options that has Tapestry built-in. The startup’s pitch combines this truth with AI imaginative and prescient casting.
“In a world of ample AI creation, 1000’s of viral, ephemeral net apps will emerge over the following decade — far outpacing iOS apps. A unified social layer allows these apps to thrive outdoors App Retailer constraints,” the venture wrote on X.
Nonetheless, crypto social graph initiatives have to date didn’t catch on. Tapestry makes social apps composable, however its graph arguably solely turns into helpful as soon as a number of groups combine it within the first place. Tapestry founder David Gabeau admitted Tapestry has lots of work to do however stated its service continues to be helpful, notably within the looming age of AI.
“Proper now, utilizing Solana is similar to utilizing Google on Incognito mode,” Gabeau informed me. If AI goes to simplify Solana app creation, then Tapestry may also help customers take one thing like a Google profile from app to app, he stated.
Then there’s Oh, a sexed-up AI companionship platform that can be integrating with Solana for its token choices. Its seed spherical drew participation from Tangent and Huge Mind Holdings, amongst others. The platform claims to be combining OpenAI with OnlyFans in that it’s growing centralized AI fashions with decentralized distribution of income.
Its proof of idea for this mannequin got here with the so-called digital twins it created for a handful of risque fashions. Whoever creates a digital twin or an unique AI bot on the platform receives 80% of the income the fashions generate from customers paying to work together with them.
A yr and a half in the past, SocialFi simply referred to giving customers possession or a monetary stake of their social presence. Immediately, some kind of AI tie-in appears to be turning into desk stakes for the sector.
