Decentralized AI platform Ritual came out of stealth after securing $25 million in a seed funding round led by Archetype.
Accomplice and Robot Ventures also participated in the funding round.
Ritual is the brainchild of Web3 investor Niraj Pant, who funded projects like EigenLayer and Solana, and Akilesh Potti, quant and then builder at data analytics company Palantir.
Over the past year, AI companies have witnessed significant growth that offers new experiences, products and a new source of revenue, Pant said. Although this may be the case, there are also significant problems taking place.
“Models are owned and run on centralized APIs hosted by a few corporations, who are bad…
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