MagnetAI hosted its first-ever Open House event in Austin, Texas, on May 28th, in conjunction with Consensus 2024.

This event brought together AI enthusiasts, industry experts, and our vibrant community to explore the future of decentralized AI.

MagnetAI Open House: A Day to Remember

The MagnetAI Open House in Austin was an incredible success, filled with insightful discussions, networking opportunities, and memorable moments!

Keynote: Intro to MagnetAI

The event kicked off with an inspiring keynote that set the tone for the day.

MagnetAI’s Co-founder, Luke Fan, guided us through the intersection of AI and Web3, introducing our innovative ModelFi protocol which aims to address key industry challenges like funding, ownership, and connectivity.

Watch the video to see how MagnetAI is empowering AI creators and users through decentralized solutions like the Model Store, Model Economy, and Model Network.

Pane l: Decentralized AI Infra 101

In the first panel, moderated by Icey Peng, we were privileged to have esteemed industry leaders: Brendan Playford, Co-founder of Masa; Clara Tsao, Founding Officer of the Filecoin Foundation; Nicholas, Co-founder of DePHY; and Luke Fan, Co-founder of MagnetAI.

This discussion delved into the intricacies of the infrastructure that supports decentralized AI, why it's important, and the latest advancements driving the field forward.

When discussing decentralized AI infrastructure, we gathered insights from various perspectives.

• Luke addressed the user perspective, focusing on the essential components within MagnetAI's Protocol Stack.

• Brendan and Clara dived into the fundamental layers provided by Filecoin and Masa, detailing the interconnected parts of decentralized AI infrastructure.

• Meanwhile, Nicholas shed light on the infrastructure requirements from the DePIN standpoint, considering factors such as off-chain networking and the potential inclusion of a decentralized GPU network.

The discussion then shifted to the question of why AI needs decentralization and the key benefits associated with decentralized AI. Each participant offered their unique perspective on these questions, resulting in a lively and engaging conversation.

In the AI tech stack, we typically divide it into three layers: Data Layer, Model Layer, and Application Layer. The Data Layer includes training data, the Model Layer encompasses GPU resources, cloud services, and algorithms, while the Application Layer involves inference and developer APIs.

What's particularly intriguing is that the projects showcased in our panel today span all three of these layers. Hence, each participant shared insights on various aspects, challenges, and innovations within their respective domains:

• Brendan and Clara offered perspectives on the Data Layer, focusing on its pivotal role in the decentralization process. They elaborated on how Filecoin and Masa are addressing these challenges.

• Nicholas and Clara delved into the Model Layer, discussing the significant hurdles in decentralizing training, model distribution, and GPU networks. Additionally, they highlighted the notable innovations from Filecoin and DePHY within this sphere.

• Luke provided insights into the Application Layer, identifying the key issue that MagnetAI aims to solve and elaborating on how MagnetAI is contributing to addressing this challenge.

To summarize, the move towards decentralizing AI infrastructure is driven by the need for more secure, efficient, and equitable AI solutions. By leveraging decentralized networks like Filecoin, Masa, and DePHY, we can unlock the full potential of AI while ensuring user data remains private and secure.

Pane ll: On-Chain AI: The Real Open AI

For the second panel of the day, moderated by Mattie Biniek, we were joined by Michael Heinrich, CEO of 0G Labs; Collin Lowenburg, Core Contributor at Dabl.Club; Ben Frigon, COO of Talus; and Lude Trappe, Co-founder of MagnetAI.

The panel discussed the importance of combining blockchain with AI in a community-driven approach, emphasizing transparency, verifiability, and open-source initiatives in the AI x Web3 space.

The first section saw the panelists exploring the synergies between AI x Web3.

• Lude discussed how AI and blockchain technology could help each other, and how MagnetAI focused on the economic issues of AI, and how the project could assist model developers to progress into commercialization while keeping the project decentralized and open.

• Michael went on to discuss key characteristics to make an open on-chain AI happen, including transparency, verifiability, and provenance.

• Collin shared about how we could maintain a balance between the open-source nature of AI and commercial viability, and why Web3 tackled this problem.

• Ben brought the section to a close by discussing his expectations on the future of AI and Web3, and how Talus aimed to assist the progress of the sector.

The second section had Michael discussing the risk of centralized AI and how community-driven AI could help tackle this problem.

We also saw Collin and Ben exploring the community aspect of an open AI and what the term “community-driven” actually represented, and how the trend of training AI models would shift to a more open-source environment. Finally, Lude explained how MagnetAI aimed to utilize this community aspect in their efforts to bring about an open, on-chain AI.

This discussion articulated the importance of an on-chain and open AI. The synergies that had been explored by the panel could clearly be strengthened by leveraging on the community aspect that Web3 was famous for, whether this was on the development side or the user side.

These sessions provided valuable insights into the future of AI and blockchain technology, sparking lively exchanges among attendees.

Networking Hour

The social hour was a highlight for many, offering a chance to connect with peers over delicious food and drinks. The indoor pool and stunning venue added a touch of luxury, making the networking experience even more enjoyable.

In true MagnetAI fashion, we had a few surprises up our sleeves. From unexpected treats to engaging activities, we ensured that every attendee had a memorable experience!

Gratitude and Appreciation

We want to extend our heartfelt thanks to everyone who attended and contributed to the success of the event. Your enthusiasm and participation made this gathering truly special.

The Austin event was just the beginning. As we move forward, we are committed to pushing the boundaries of AI technology and creating a vibrant, collaborative community. We invite you to join us at our next MagnetAI Open House in Brussels during EthCC.

Thank you for being a part of our journey. We can't wait to see what we can achieve together!

About MagnetAI

MagnetAI is pioneering the first ModelFi protocol, designed to create financial opportunities for AI creators, users, and investors through blockchain-based principles like tokenization, incentivization and monetization.

ModelFi transforms the AI economy through 3 primary components:

• Model Store: A user-friendly, decentralized AI marketplace that enables creators to monetize their AI products, including models, bots, agents, and knowledge bases.

• Model Economy: Allows creators to tokenize their AI products, facilitating fractional ownership and benefits such as revenue sharing with "Model tokens."

• Model Network: Integrates Web2, Web3, and Virtual GPU nodes into a cohesive inference network that is ZKP-based and on-chain verifiable.

Discover more about how MagnetAI shaping a new AI economy on our homepage: https://magnetai.xyz/

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