OKX Ventures Invests in Blockchain and AI Verifiable Compute Layer Space and Time

OKX Ventures has invested in Space and Time, a verifiable compute layer that integrates AI and blockchain, enhancing data verification for smart contracts.

OKX Ventures, the investment arm of Web3 technology company and cryptocurrency exchange OKX, has announced a new investment in Space and Time (SxT), a verifiable compute layer for AI and blockchain.

This investment is part of OKX Ventures’ broader strategy to identify and support promising technology-led projects with real-world applications. The partnership will leverage blockchain’s advantages to deliver onchain data to smart contracts within block time.

Space and Time has been building a verifiable compute layer for AI and blockchain to enhance data verification for smart contracts. Founded in 2021 by a team of Stanford University alumni, the company has developed a novel zero-knowledge (ZK) circuit from scratch over the last two years.

This new technology provides best-in-class performance in verifying database processing, which is crucial for smart contract developers and enterprises. The solution is scalable and has applications across multiple sectors, including Web2 enterprises, AI, DeFi, gaming, and Web3 infrastructure.

The company’s Proof of SQL tech stack, which has been in beta since April 2023, currently processes an average of 5.3 billion database requests and 500,000 queries per month. This generates over $4.5 million in annual recurring revenue, showcasing the potential for optimal onchain performance.

The Proof of SQL stack combines zero-knowledge proofs, artificial intelligence, and data warehousing to index major chains such as Ethereum, Bitcoin, ZKSync, Polygon, Sui, Aptos, and Sei.

Statements from Key Figures

Nate Holiday, Co-Founder and CEO of Space and Time, expressed excitement over the partnership with OKX Ventures, stating:

“We are thrilled to team up with OKX Ventures to empower the community with the tools they need to build verifiable applications at the intersection of AI and blockchain. Space and Time is ushering in the next generation of apps and DeFi by delivering verifiable compute to smart contracts, powered by the industry’s first and only sub-second ZK proof.”

Dora Yue, Founder of OKX Ventures, also commented on the investment, highlighting the potential for improved user experiences.

“Space and Time offers a solution for communities and companies, including dApps, with an optimal user experience. This means users can enjoy high-quality interactions with enhanced safety, allowing for self-custody of digital assets via a tamperproof database. It also provides better gameplay, matchmaking, and onchain earnings for Web3 game players.”

Broader Implications and Future Prospects

Both companies are now looking forward to the release of SxT’s testnet, which will bring further advancements in the blockchain and AI space.

This investment aligns with OKX Ventures’ focus on technology-led projects with real-world applications and is expected to fully leverage the advantages of blockchain technology. Both companies are excited about the possibilities that this partnership will bring.

According to OKX Ventures, this collaboration is a step towards realizing the vision of blockchain technology: a world that doesn’t rely on trust, which will become increasingly vital as AI continues to accelerate.