Multi-chain infrastructure Edge Matrix Chain completes $20 million financing, led by Polygon Ventures and Amber Group

BlockBeats reported that on August 29, the multi-chain infrastructure project Edge Matrix Chain completed a $20 million financing round, led by Polygon Ventures and Amber Group, with participation from One Comma, Kapley Judge and Associated Corporations, and Cyberrock Venture Fund.

EMC plans to use the newly raised funds to launch its Layer 1 blockchain, which focuses on applications designed for artificial intelligence. The blockchain "is designed to expand and support GPU computing for encrypted AI projects while introducing new DeFi asset classes supported by tokenized real-world GPU resources." EMC also said that it launched a two-month public testnet incentive program on August 17, and plans to distribute a $5 million prize pool through a two-stage incentive program.