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TaaS Contributes 300 ETH to Neuromation, the Universal Marketplace of Neural Network Development

February 05, 2018

TaaS Contributes 300 ETH to Neuromation, the Universal Marketplace of Neural Network Development

Token-as-a-Service (TaaS), the first-ever tokenized closed-end fund, has contributed to Neuromation, a platform of distributed computing for AI applications, that uses the computing power of cryptominers to democratize the AI industry.

Combining the new digital frontiers of Blockchain and AI, Neuromation is spreading technological synergy to industrial and trade processes. Neuromation offers a revolutionary solution to unite distributed computing power with the needs of thousands of in-depth learning projects and b2b clients all over the world. Using this complex solution, Neuromation has already achieved significant progress in its Retail Lab, providing image recognition services to major retail brands in cooperation with OSA HP. Other b2b service projects include MonBaby — producers of smart cameras for tracking infant behaviour in the crib, and AxxonSoft — a video surveillance and security services provider.

Neuromation CEO, Maxim Prasolov, said, “We appreciate the support of TaaS. The commitment of the TaaS team helps us move forward and achieve. This contribution along with our partnership shows their dedication to the fast-growing economy of tokenization and our platform as an integral part.”
This contribution comes shortly after TaaS and Neuromation concluded the strategic agreement. This partnership will see Neuromation gaining advanced access to crypto-markets, and challenge TaaS and Neuromation to explore new ways to enhance and strengthen synergy in the blockchain space.

The Neurotoken pre-sale ended on January 1st, 2018 and raised over 39,000 ETH (an equivalent of $39 million) for the 53 Million Neurotokens (NTK) allocated. TaaS joined the pre-sale with the contribution of 300 ETH. The main Token Sale started on January 7th, 2018 and the hard cap of 60 Million NTK was reached in less than 4 hours.

Ruslan Gavrilyuk, President and CEO of TaaS said, “Wide usage and implementation of AI and deep learning is essential, today and moving forward into the future. Distributing AI through blockchain technology, the Neuromation platform is ahead of its time. Their up-and-coming platform has progressed significantly,, qualifying it for our contribution.”
This marks TaaS Fund’s fourth Token Generation Event (TGE) contribution during the third fully-operational quarter, ended on Jan 1st, 2018. During this quarter, TaaS contributed 350 ETH to DMarket, the first cross-game platform on the blockchain, 210 ETH to SmartOne, a marketplace for legal solutions for blockchain-based enterprise, and 350 ETH to DreamTeam, blockchain-based all-in-one solution to build, grow, manage, and monetize Esports teams. TaaS also contributed to OSA Hybrid Platform, Neuromation, Hacken, Native Protocol, Persona and TheMine and InsurePal, which were the top winners of the ICO Pitch Competitions organized by d10e in Davos (Nov 14) and Bucharest (Dec 15).

During the second fully-operational quarter, ended on November 1st, TaaS contributed a total of 1 million USD(T) equivalent to 6 TGEs, generating capital gains of 5.5 million USD(T) equivalent while producing a 72% ROA over this time. TaaS also made contributions to BlockV, Hacken, and Ripio Credit Network, which were the top winners of the ICO Pitch Competitions organized by d10e in Kyiv on Sept 19.

During the first fully-operational quarter, ended on August 1st, TaaS contributed a total of 3 Million USD(T) equivalent to 11 TGEs, generating a 61% ROA. The TaaS Token is currently trading on Livecoin, Orderbook, EtherDelta, HitBTC, Liqui and CoinExchange at the price of 11.23 USD(T) equivalent per TAAS.

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