Popular crypto assets market data provider, CoinMarketCap has announced the selection of an artificial intelligence-based project, ByteNova AI into its incubation program. The firm confirmed the inclusion of the project into the CMC Labs Accelerator Program on Friday through a post on its official X page.
In the post, the company described ByteNova AI as a pioneer in edge artificial intelligence technology. According to CoinMarketCap, the new inductee uses AI solutions to revolutionize decentralized intelligence by empowering smartphones, industrial machines, and many more to operate without relying on cloud storage.
The firm added that ByteNova AI is leading a new trend with its enhanced privacy, and cost-effective scalability. More so, CoinMarketCap said the project’s “edge-first” approach and integration with web3 perfectly align with its goal to advance crypto revolution.
Also, CoinMarketCap narrated how it will support ByteNova AI with its vast global user base, market insights, and access to its extended network which includes the BNB Chain. Furthermore, the firm said the initiative will focus on learn and earn campaigns to support BybteNova AI in becoming a major force in the industry.
Side note on CoinMarketCap and CMC Labs Accelerator Program
It is worth mentioning that CoinMarketCap through the CMC Labs Accelerator Program has nurtured numerous blockchain-based projects to greatness. Recall that the firm launched the initiative in November 2023 to empower the new generation of web3 pioneers.
As part of the program, inductees will enjoy early boosters like promotions across all social media platforms relating to the platform. Similarly, the CMC Labs Accelerator Program also assists startups with campaigns that will enhance their scalability.
Likewise, selected projects will also receive technical support from all partners of the program including BNB Chain, Polygon, Avalanche, LayerZero, Galxe, GSR, Injective, and many others. In recent times, the CMC Labs Accelerator Program inducted Thorwallet, Vultisig, Gaimin, Sogni AI, Ambient Network, and many others.
CoinMarketCap is a renowned price-tracking platform for cryptocurrencies. Since its establishment in 2013, the firm has gained the trust of crypto enthusiasts, media organizations, research centers, government institutions, and many others.
In April 2020, the platform gained massive attention following its acquisition by Binance Capital Management, the company behind the world’s largest cryptocurrency exchange by trading volume, Binance. Despite operating independently from Binance, CoinMarketCap still relies on the exchange for deeper data relating to some cryptocurrencies.