AI project 'Poseidon' secures $15 million in seed funding

The intellectual property (IP) blockchain project Story announced on the 23rd that its in-house incubating project, 'Poseidon,' has secured $15 million in seed funding from venture capital firm Andreessen Horowitz (a16z)'s a16z Crypto.

Poseidon is a decentralized data layer developed for artificial intelligence (AI) training. The aim of Poseidon is to allow the safe use of high-quality data required for AI development without legal disputes.

Specifically, Poseidon utilizes Story's IP licensing infrastructure to track and monetize data exchanges between AI developers and data contributors. Data is registered on the Story blockchain after an explicit consent process and is granted a license for commercial use. In this way, it seeks to resolve the IP problems of data that have been considered obstacles in existing AI development processes.

Seung Yoon Lee, CEO of Story, said, "Poseidon marks a new phase opening up Story 2.0 and is a case that proves Story's prediction that 'IP and data will become the core elements of the AI economy.' Based on this, we aim to resolve the legal risks and ownership issues faced by AI research institutes, companies, and enterprise partners, and accelerate innovation in the AI learning ecosystem."

Meanwhile, Poseidon plans to sequentially introduce infrastructure stacks such as contributor modules, software development kits (SDK), and integrated licensing tools via a pre-release this summer.