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

OKX Ventures, the investment division of leading crypto exchange and Web3 technology company OKX, has announced its latest updates for August 27, 2024.

OKX Ventures Invesتمع in Space and Time, the Verifiable Compute Layer for AI and Blockchain

OKX Ventures announced its recent investment in Space and Time (SxT) today. SxT is known for developing the verifiable compute layer for AI and blockchain, merging tamperproof onchain and offchain data to deliver enterprise use cases to smart contracts and large language models (LLMs).

OKX Ventures' decision to make this investment is driven by the increasing challenges encountered in data analytics and the potential offered by SxT's innovative solution. The investment aligns with OKX Ventures' focus on technology-led projects with real-world applications.

The SxT research team has dedicated the last two years to building a novel zero-knowledge (ZK) circuit from the ground up, achieving unprecedented performance. This provides smart contract developers and enterprises with a scalable method to verify database processing. The solution finds applications across various sectors, including Web2 enterprises, AI, DeFi, gaming and Web3 infrastructure.

SxT has demonstrated its credibility with their Proof of SQL tech stack in beta since April 2023, processing 5.3 billion database requests and 500,000 queries per month on average. This has generated over $4.5 million in annual recurring revenue across various use cases, showcasing the potential for optimal onchain performance. The Proof of SQL stack incorporates zero-knowledge proofs, artificial intelligence, and data warehousing. It enables indexing of major chains including Ethereum, Bitcoin, ZKSync, Polygon, Sui, Aptos and Sei.

“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,” said Nate Holiday, Co-Founder and CEO of Space and Time.

"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. We believe this will realize the vision of blockchain technology: a world that doesn’t have to rely on trust, which will be more important than ever as AI continues to accelerate. We look forward to continuing to build together."

“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. Now, communities can track dashboards and explore opportunities independently using AI-powered tools,” said Dora Yue, Founder of OKX Ventures.

"We're pleased to see blockchain's advantages being fully utilized by the SxT team, particularly in delivering onchain data to smart contracts within block time, and we can't wait for the release of SxT's testnet."

For further information, please contact:

Media@okx.com

About OKX Ventures

OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

About Space and Time

Space and Time (SxT) is the verifiable compute layer for AI x blockchain that joins tamperproof onchain and offchain data to deliver enterprise use cases to smart contracts and LLMs. SxT has developed a novel cryptography called Proof of SQL that allows developers to connect analytics directly to smart contracts, opening up a wealth of powerful new use cases and business logic on blockchain technology. SxT is built from the ground up as a multichain data platform for developers in financial services, gaming, DeFi, or any project requiring verifiable data across enterprise, blockchain and AI.