Investment firms Polygon Ventures and Amber Group jointly lead a $20 million funding round for Edge Matrix Chain.
Edge Matrix Chain Launches New DeFi Asset Class Backed by GPU Resources
Edge Matrix Chain (EMC) has announced the introduction of a groundbreaking DeFi asset class, backed by tokenized real-world GPU resources. This innovative approach bridges the gap between physical hardware and blockchain-based financial instruments, opening up new opportunities in the decentralized finance (DeFi) ecosystem.
The novel asset class works by tokenizing actual GPU resources, transforming these tangible, physical hardware components into digital tokens that can be traded, lent, or used as collateral within DeFi protocols. This model not only unlocks liquidity from otherwise illiquid GPU assets but also integrates computational resources into DeFi’s financial flows, fostering new use cases such as decentralized GPU rental, mining, or AI computation markets.
EMC's approach aligns with ongoing trends in real-world asset (RWA) tokenization seen in DeFi, where physical assets like real estate, treasuries, or machinery are converted into compliant tokens for use in decentralized ecosystems. However, EMC sets itself apart by focusing on GPU resources, positioning GPU power as a tokenizable and tradable real-world asset within DeFi.
The EMC Network, part of EMC's peer-to-peer network-based edge computing protocol, includes features like smart contracts, decentralized storage, and consensus mechanisms for transaction verification. The network aims to create a new DeFi asset class backed by tokenised real-world GPU resources.
The funding round for EMC was led by Polygon Ventures and Amber Group, with participation from One Comma, Cyberrock Venture Fund, Candaq Fintech Group, Hameem Raees Chowdhury, Kapley Judge and Associated Corporations, and others. The fresh capital will be used to accelerate the launch of EMC's layer-1 blockchain for AI applications.
Alex Goh, Chairman of EMC Foundation, and BK Khur, CTO, co-founded the EMC Network. Goh was previously the General Manager of AWS Greater China, while Khur was part of the Digital Transformation team at Deloitte Consulting.
As part of the incentive program, EMC has set aside $5 million in rewards, distributed across two stages and launched in mid-August. The program aims to encourage participation and growth within the EMC Network.
EMC's blockchain is designed to scale and support GPU compute for crypto AI projects. The DeFi class utilizes "tokenized H100 Tensor Core GPUs developed by Nvidia," providing a robust foundation for the new asset class.
This development marks a significant step forward in the integration of physical resources into the DeFi ecosystem, blurring the lines between traditional finance and decentralized finance, and opening up new opportunities for innovation and growth.
- The new DeFi asset class launched by Edge Matrix Chain is backed by tokenized real-world GPU resources, which can be used in decentralized finance (DeFi) protocols for trading, lending, or as collateral.
- EMC's innovative approach of tokenizing actual GPU resources allows for the integration of computational resources into DeFi’s financial flows, fostering new use cases such as decentralized GPU rental, mining, or AI computation markets.
- EMC's blockchain, designed to scale and support GPU compute for crypto AI projects, utilizes "tokenized H100 Tensor Core GPUs developed by Nvidia," creating a new asset class in DeFi that aligns with ongoing trends in real-world asset (RWA) tokenization.
