The ORA Protocol, previously known as HyperOracle, is making waves in the tech world with its innovative Initial Model Offering (IMO), which aims to transform the AI landscape by tokenizing AI models. This groundbreaking approach allows AI developers to monetize their models directly, offering a new paradigm for the AI and blockchain industries.
At the core of ORA's innovation is its ability to bring complex computations and AI capabilities directly onto the blockchain, enhancing the functionality and accessibility of smart contracts. The protocol supports this with two ERC standards, ERC-7641 and ERC-7007, designed to handle ownership and operational aspects of AI models, respectively.
Kartin Wong, the founder of ORA, discusses the significant hurdles that have traditionally limited AI development, such as funding and proprietary restrictions, and how ORA's model aims to overcome these by enabling open-source collaboration coupled with viable monetization strategies. He explains that the tokenization of AI models not only democratizes access to these technologies but also ensures that developers are compensated for their innovations.
This model has wider implications for the industry, potentially setting new standards for how AI developments are funded and deployed. It also addresses ethical and regulatory challenges by embedding compliance and governance mechanisms directly into the tokenized models, ensuring they adhere to global standards while remaining effective and competitive.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
