AO Ventures invests $35 million in Arweave development
Tate Berenbaum previously raised $30 million for the cryptocurrency startup Community Labs. He has now launched AO Ventures, a 10-week incubator program aimed at promoting the development of Arweave and AO. According to its website, "over $35 million has been invested in the investment pool. The program will launch in April and end on Demo Day in June." AO is described on the Community Labs website as a "super parallel computer" that aims to "combine the benefits of minimizing trust with speed and traditional computing environments." The Arweave website states that the network is used for "permanent information storage."
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