Olas, the 2021 founded Crypto*AI project and a pioneer in creating AI agents enabling automation in the crypto world, made a significant announcement on Tuesday. After receiving $13.5 million in funding organised by 1kxnetwork, it made the World's first AI agent app store, Pearl, live as a desktop application.
Crypto*AI project Olas, founded in 2021 and known for its pioneering efforts in creating AI agents that automate actions in the crypto world, made a significant announcement on Tuesday. Following a $13.5 million fundraise organized by 1kxnetwork, the company has officially launched Pearl, the world's first AI agent app store, as a desktop application. The funding announcement also includes $1 million in Grants for Agent developers through the Olas Accelerator initiative. The $13.5 million fundraise saw participation from several global Venture Capital funds, including Tioga Capital, Borderless, ARKN Ventures, Generatives Ventures, Metropolis, Keyrock, Smape, Sigil Fund, Zee Prime Capital, Very Early, Perridon Ventures, and Spaceship. Among the core contributors to Olas’ fundraisers were selected angel investors Leo Mindyuk, Co-founder of ML Tech, and Nicolas Gallet, CEO of Gallet Capital. The funds raised will be primarily used to accelerate the scaling of Olas’ agent app store, Pearl. Additionally, they will enhance the development of decentralized AI agents and their integration into the crypto world, enabling faster and automated crypto actions.
Types of AI agents offered in Pearl
Built on the Ola stack, the customizable decentralized AI agents available on Pearl aim to provide users with complete decentralized ownership of their own AI agents, tailored to their specific needs. By staking OLAS tokens, these AI agents can be set to automatically perform specific tasks defined by developers. The work that can be automated by the AI agents spans across use cases such as performing DeFi trades, analyzing data to make informed predictions in prediction markets (e.g., Polygon and Kaishi), or even managing and automating social media handles. Developers can leverage Ola stack's open-source framework to create, deploy, and manage autonomous AI agents.
Currently, the types of AI agents that can be set up at Olas include:
Olas Accelerator: Grants for the development of new AI agents By utilizing Proof-of-Active-Agent (PoAA) — a combination of Proof of Work (PoW) and Proof of Stake (PoS) mechanisms — Olas has facilitated over 3 million agent transactions to date, with a growth rate of 30%+ MoM. The Ethereum co-founder Vitalik Buterin has also expressed support for these AI agents, suggesting that they would be “ubiquitous” in prediction markets. Furthermore, the rewards mechanism introduced by Olas last year, which allocates OLAS tokens for useful agent activity, continues to incentivize the development of AI agents. Emphasizing the significance of this development, David Minarsch, CEO of Olas, stated, “Pearl’s agent app store represents a significant step forward in democratizing access to AI agents. By giving everyone AI agents they can not only use, but fully own and customize, we’re turning the status quo on its head. At a time when advances in AI can seem increasingly daunting, Olas is uniquely giving control of AI back to the user.” To further propel this initiative, 10 seats are now available as part of the Olas Accelerator initiative, which will grant funding to 10 teams (up to $100K each) for developing AI agents for Pearl. This move aims to inspire the creativity of Agent Developers and lead to the creation of innovative new agents. As the AI landscape tends to be dominated by centralized, monopolistic entities, these AI agents by OLAS might just be able to put the ownership and benefits of AI in the hands of the users.
