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Neo partners with Phoenix to explore AI and blockchain synergies

source-logo  neonewstoday.com 24 June 2024 04:16, UTC

Neo has announced a new partnership with Phoenix, a decentralized AI infrastructure provider. The two entities will collaborate on exploring how AI can accelerate blockchain technology and drive mass adoption on Neo X.

The Phoenix ecosystem comprises two main components: SkyNet and Phoenix LLM. SkyNet is an elastic computer layer capable of providing and scaling workflow tools, quick deployment features, and AI compute. Phoenix LLM is a customizable large language model platform that can process and generate text similar to that produced by humans.

The Phoenix team aims to build solutions that apply to the following verticals: markets and trading, research and knowledge, gaming and metaverse, financial services, Internet of Things and edge computing, and cloud computing. Some industry partners Phoenix has established include Binance, Tencent Cloud, Alibaba Cloud, and Alchemy Pay.

Neo’s partnership announcement notes that the two organizations will explore various use cases using Phoenix’s solutions.

First, with AI computer power services, SkyNet will offer computing services for the Neo ecosystem. Secondly, AI content generation will also leverage Phoenix to generate content for NFTs, GameFi, and metaverse applications. Finally, Phoenix’s AlphaNet is planned to supply AI trading signals for decentralized exchanges in the Neo ecosystem. Neo’s announcement noted that Flamingo Finance is currently in discussions with Phoenix to explore using AI to enhance its platform.

History of Phoenix in the Neo Ecosystem

Though the Phoenix team comprises new leadership, the entity’s genesis dates back to 2017 with the first public token sale to be held on Neo, Red Pulse. Red Pulse began as a subscription newsletter that focused on China’s capital markets, but evolved into a market intelligence platform that connected Western investors with information in Chinese markets. In 2019, Red Pulse introduced the Phoenix product, designed to use machine learning and natural language processing to implement full and semi-automated matching of insights and industry experts to clients.

By 2019, the platform had attracted nearly 250 freelance contributors sharing insights on China’s capital markets and earning PHX tokens. Additionally, the team was tailoring services to retail and institutional clients through different offerings, and began to explore more AI-enabled solutions. That same year, Red Pulse integrated support for Binance Smart Chain, and hosted the PHX token on Neo and the PHB token on Binance Chain.

In 2021, ahead of the launch of Neo N3, the team decommissioned its support for Neo Legacy and asked users to migrate tokens from Neo to Binance Smart Chain.