[PRESS RELEASE – Stockholm, Sweden, October 2nd, 2024]
This marks the first investment from Chromia’s recently launched Data and AI Ecosystem Fund, which is aimed at supporting projects that utilize data in innovative ways within the blockchain space.
Chromia has announced a strategic investment and partnership with Elfa AI, an AI-powered social platform designed to help users navigate the crypto market through real-time, data-driven insights.
Elfa AI utilizes artificial intelligence to interpret large volumes of data from platforms such as X, Telegram and other on-chain data sources, streamlining the process of identifying actionable market opportunities. Users can customize signals to their unique preferences, trade cryptocurrencies directly within the app and share opportunities with friends.
Chromia’s relational blockchain architecture, which supports efficient management of large datasets, aligns with Elfa’s data-centric approach. The collaboration between the two platforms will explore ways to enhance data accessibility and transparency by leveraging Chromia’s infrastructure to allow public verification of data used within the Elfa ecosystem. Additionally, Elfa will explore integration with Chromia’s developer-friendly tools, facilitating more efficient retrieval and analysis of on-chain data for both users and developers.
The collaboration also presents longer-term opportunities for ecosystem growth, with the potential for Elfa users to create their own tools and solutions using open-source datasets stored on Chromia blockchains. Over time, as more developers and users interact with these tools, both platforms aim to advance the application of AI technology to produce actionable market insights.
Yeou Jie, Head of Business Development at Chromia, commented on the partnership:
“Elfa AI stands out because of their ability to harness AI to deliver real-time, actionable information in the fast-paced world of crypto. We believe their platform has the potential to change how users engage with crypto markets, and we see a natural alignment between their data-driven approach and Chromia’s blockchain infrastructure.”
The investment is part of Chromia’s broader strategy to support projects that enhance the capabilities of decentralized applications by improving data management and accessibility.
About Chromia
Chromia is a Layer-1 relational blockchain platform that uses a modular framework to empower users and developers with dedicated dapp chains, customizable fee structures, and enhanced digital assets. By fundamentally changing how information is structured on the blockchain, Chromia provides natively queryable data indexed in real-time, challenging the status quo to deliver innovations that will streamline the end-user experience and facilitate new Web3 business models.
About Elfa AI
Elfa AI is a social platform powered by AI that helps users navigate the complex world of cryptocurrency. By analyzing large datasets from social media platforms, Elfa provides real-time insights and signals that allow users to make informed decisions. The platform aims to simplify how users engage with cryptocurrency data, offering a streamlined and efficient approach to staying informed in a rapidly changing market.