YZi Labs Invests in Vana Network with Binance Founder as Advisor
YZi Labs, previously known as Binance Labs, has made a strategic investment in the Vana (VANA) blockchain, marking its entry into artificial intelligence. Changpeng Zhao (CZ), co-founder of Binance Holdings, will serve as an advisor to assist Vana in the AI and blockchain industries.
The investment aims to:
- Develop and expand the DataDAO ecosystem
- Accelerate adoption of 16 DataDAOs
- Incentivize new data contributors
- Onboard additional DataDAOs
“Data is a competitive advantage when it comes to training next-generation AI,” stated Anna Kazlauskas, Creator of Vana.
This move supports YZi Labs' expansion into AI and biotech, addressing critical issues of data sovereignty. The investment coincides with earlier investments in Sahara AI and MyShell (SHELL) aimed at enhancing AI adoption among Web3 users.
Following the announcement, VANA's price increased over 20% to approximately $7.5. The altcoin saw a 250% rise in its 24-hour trading volume, reaching about $174 million, although it remains down 77% from two months prior.
Vana network is positioned for growth, supported by YZi Labs and insights from CZ. It currently has nearly 1.3 million addresses and over 35.4 million transactions.