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- Both SocialTensor and NicheTensor have been working on enabling the mass adoption of decentralized artificial intelligence (AI) tailored to individual needs.
- The new entity formed after the subnet merger will operate under the name SocialTensor.
- The integration of the two entities will strengthen the Bittensor ecosystem as an AI hub.
SocialTensor, a web3 platform focused on developing realistic decentralized artificial intelligence infrastructure, has announced the first subnet merger on the Bittensor (TAO) blockchain with NicheTensor, an image and text generation platform.
According to the announcement, the subnet merger on the Bittensor network will result in a new entity dubbed SocialTensor, which will focus on developing cutting-edge applications.
SocialTensor and AI Market Outlook
The subnet merger between SocialTensor and NicheTensor is a strategic move that will enhance the mass adoption of Bittensor and web3 protocols. Furthermore, NicheTensor has established itself as a capable image generator that supports seven different models that cater to specific individual needs.
SocialTensor has attracted the industry’s leading developers including from Microsoft Corp. (NASDAQ: MSFT) and top-tier Wall Street banks. As a result, the historic collaboration between the two entities will significantly accelerate the development and adopt decentralized artificial intelligence (AI).
Some of the products already launched by SocialTensor include NicheImage. The SocialTensor team has several products in the pipeline, which will be unveiled in the near term future.
“Together, their combined expertise and enterprise-level operations will elevate the subnet, bring new opportunities, and expand the global impact of the Bittensor network,” the announcement noted.
The notable growth of Nvidia Corp. (NASDAQ: NVDA) to a $2.8 trillion company in the past few years has underpinned the heightened demand for artificial intelligence products globally. Moreover, global technology is expected to significantly be heavily influenced by artificial intelligence in the coming years.
Direct Impact on the Bittensor Platform
Bittensor (TAO), a major open-source protocol that powers a decentralized blockchain-based machine learning network, has grown to a top-tier market for artificial intelligence. According to the latest crypto market data as of this report, the Bittensor network has grown to a fully diluted valuation of about $8 billion and a daily average traded volume of around $28 million.
The strategic Union of NicheTensor and SocialTensor will enable the Bittensor network to further solidify its dominance in the artificial intelligence market.
The SocialTensor platform will soon introduce a product dubbed Makeitaquote, which is a flagship X bot that simplifies turning posts into image quotes. According to the company, the Makeitaquate bot will generate more than 12 million organic impressions per week, which will harness the power of Bittensor.
“By utilizing their Bittensor subnet, they will provide tailored AI solutions that help people connect and express themselves more meaningfully. These AI models can be adapted for very specific (niched) use cases and are highly affordable, making them attractive to both large enterprises and small businesses,” the announcement said.