OpenFabric Aims to Revolutionize AI, But Questions Remain Around Token Utility

• OpenFabric is a new project disrupting the AI landscape, but questions exist about its “gems” token.
• Arcanum Ventures team, Sasha and Carmelo, delve into OpenFabric’s journey into blockchain, AI, and a new layer one protocol.
• OpenFabric is developing a layer-one blockchain protocol for the AI community, set to launch on Chain GPT with over $5 million raised.

An intriguing new project called OpenFabric aims to disrupt the artificial intelligence (AI) landscape but faces questions around the utility and purpose of its token, referred to as “gems.” 

In a 16-minute whirlwind of insights, the Arcanum Ventures team, Sasha and Carmelo, delves into OpenFabric’s ambitious journey into the world of blockchain, artificial intelligence, and the birth of a new layer one protocol. 

OpenFabric is developing a layer-one blockchain protocol designed specifically to serve the AI community, according to details shared by venture capital firm Arcanum Ventures. The project is slated to launch on Chain GPT and has already raised over $5 million, hinting at significant interest.

OpenFabric envisions allowing monetizing AI service

The core idea behind OpenFabric is to allow anyone to easily create, share, and monetize AI services at scale. The project boasts an impressive list of partners, including Cify, CHB, Dpad, Engine Starter, and Pools. This has sparked discussion around the demand for a specialized layer-one chain focused on AI.

However, in their analysis, Arcanum Ventures raised concerns about the lack of transparency and detail provided so far around OpenFabric’s native token. While the “gems” token appears heavily marketed, its utility and purpose within the ecosystem remain unclear. The absence of tokenomics information and use cases leaves questions unanswered, especially with an IDO on the horizon.

OpenFabric has yet to share details on token economy advisors or elaborate on why the token is needed. This lack of clarity could deter potential investors seeking to understand the value proposition. At the same time, OpenFabric has prioritized security with audits by firms like Hacken and CertiK.

Arcanum concludes that while OpenFabric shows promise, the lack of transparency around the token’s role is a gap that needs to be addressed. Aligning the messaging and helping users understand the token’s significance could attract more investors.

For those interested in OpenFabric’s ambitions, examining the whitepaper and analyzing the tokenomics may provide more insight into its goals and potential value. As it stands, OpenFabric is at a crossroads, with an intriguing idea that requires further exploration into the necessity and function of its token.