Swarm Network, a decentralized AI protocol focused on verification, has successfully raised $13 million in a two-phase funding round. The funding comprises $10 million generated through a public Agent License Sale on the Sui blockchain, complemented by an additional $3 million in strategic investments from prominent backers including Sui, Ghaf Capital, Brinc, Y2Z, and Zerostage.
The strategic investments from Sui, Ghaf Capital, and Brinc were secured following Swarm's participation in the highly selective SuiHub global accelerator program in Dubai. The program received over 630 applications from 152 countries, with an acceptance rate of just 1.3%, highlighting the competitive nature of the selection and the strength of Swarm's proposal.
Agent Licenses, which are NFTs issued on the Sui network, form the backbone of Swarm's AI Agent Layer. These licenses allow holders to operate AI agents that maintain network integrity, earning daily rewards in the process. To date, more than 10,000 licenses have been sold, demonstrating significant public interest. An upcoming feature, Agent BUIDL, will enable license holders to customize and train their AI agents for specific verification tasks.
Swarm's protocol is designed to transform off-chain data into verifiable on-chain information. An early adopter of this technology is Rollup News, an AI-powered fact-checking solution that has already attracted over 128,000 users who have collectively verified more than three million posts.
Sui co-founder Kostas Chalkias expressed strong support for Swarm, stating: "We need some strong teams in the AI spectrum. Swarm's whole presentation is appealing - they're in this space of successful startups." The funding announcement reflects the growing trend of convergence between blockchain technology and artificial intelligence, attracting significant investor interest in the crypto-AI sector.