Chromia Launches a $20M Data and AI Ecosystem Fund, Announces Upcoming ‘Asgard’ Mainnet Upgrade

Chromia, a Layer-1 relational blockchain, has announced the launch of a $20M Data and AI Ecosystem Fund and the upcoming ‘Asgard’ Mainnet Upgrade. The company made this announcement during the TOKEN2049 event in Singapore.

In a press release shared with Cryptowisser, Chromia said these initiatives will help expand its ecosystem in 2024 and 2025. 

The ecosystem fund will support data-intensive projects and AI-enabled applications. Yeou Jie, Chromia’s Head of Business Development, will lead the initiative. Jie joined the company in early 2024 after previously serving as Head of Portfolio at DeFiance Capital.

While commenting on these latest developments, Jie said, 

“We believe that any project dealing with significant amounts of data needs data cleaning and automation, leading to the implementation of AI. Chromia is the ideal environment for developers to build solutions that can process, analyze, and react to complex datasets in real-time.”

Chromia co-founder Henrik Hjelte also commented that,

“By supporting AI and other data-centric solutions, we're positioning Chromia for broader partnerships and expanding the ecosystem in fresh directions.” 

Chromia revealed that the Data and AI Ecosystem Fund will begin accepting applications immediately.

Chromia also announced the ‘Asgard’ Mainnet Upgrade, which is scheduled for Q4 2024. The upgrade is set to introduce “Extensions”—customized chains designed to bring new functionalities to the platform.

According to Chromia, the extensions can be leveraged by both native Chromia dapps and external clients, broadening the platform’s capabilities. Proposed Extensions include an oracle solution, computation for AI models, and support for data availability and zero-knowledge proofs.

The upgrade comes after Chromia launched its mainnet earlier this year. The network uses an on-chain relational database architecture designed to manage large volumes of interconnected data and improve on-chain querying. 

This framework enables Chromia to function as both a standalone decentralized application platform and a relational data layer for Web3 projects built on other blockchains. In addition to supporting gaming projects such as My Neighbor Alice and Mines of Dalarnia, Chromia is expanding into data-centric fields while continuing its development in gaming and other industries.