Arthur Hayes, co-founder of BitMEX and CIO of Maelstrom, known for his contributions to the crypto and traditional capital markets, joins Ritual, a decentralized AI platform, as a consultant.
The strategic role of Hayes aims to promote the financialization of AI models, GPUs, and data within the Ritual ecosystem, leveraging his extensive experience in both the cryptocurrency and traditional financial sectors.
Summary
BitMEX co-founder Arthur Hayes joins Ritual: leading the financialization of AI in the decentralized landscape
The decentralized AI platform Ritual has welcomed a prominent figure in the crypto space, the co-founder of BitMEX and CIO of Maelstrom, Arthur Hayes, to its advisory board. Hayes, now the Chief Investment Officer of his family office, Maelstrom, brings with him extensive experience in both traditional and crypto capital markets.
The role of Hayes as a consultant focuses on promoting the financialization of AI, a sector in which he has demonstrated remarkable expertise.
Being one of the pioneers in recognizing the synergies between AI and crypto, Hayes has played a fundamental role in introducing perpetual swaps in cryptocurrency trading, revolutionizing the landscape of futures derivatives.
Ritual, which is emerging from stealth mode with a $25 million funding, has positioned itself as a decentralized AI platform with a dedicated incentivized network to host, process, and refine AI models.
Hayes’ experience should catalyze the financialization of AI models, GPUs, and data within the Ritual framework.
In a statement, Ritual co-founder Akilesh Potti highlighted the importance of Hayes’ contribution, emphasizing his role in promoting the financialization of AI and cryptographic primitives.
Potti believes that Hayes’ unique experience and his passion for the cryptocurrency ecosystem are valuable for the growth of Ritual and its vision of creating a decentralized, permissionless, and open future of AI.
Hayes said he was excited to join Ritual, emphasizing the intrinsic compatibility of AI with decentralization. Imagine a future where AI is independent from powerful tech giants, ensuring censorship-resistant technology and promoting collaboration.
As a consultant, Hayes intends to contribute to the emerging AI economy by promoting a more decentralized and accessible technological landscape.
The details of the collaboration have not yet been made public
The details of Hayes’ involvement in Ritual, including the incentives offered, have not been disclosed. However, his commitment to the financialization of AI models, GPUs, and data is evident and reflects his belief in the transformative power of AI in reshaping industries and economies.
Ritual, not only in the space of decentralized AI, must face the challenges related to the different global computing resources and the need for education within the web3 community.
Potti believes that Ritual’s approach to forming strategic partnerships and managing educational gaps is crucial to overcoming these challenges.
The decentralized AI landscape, with Ritual at the forefront, is ready for a paradigm shift.
The flagship product of the platform, Infernet, allows smart contracts to access AI models for various applications on the chain, ranging from autonomous agents to improving existing DeFi and NFT protocols.
Since the AI revolution intertwines with decentralized frameworks, Hayes predicts that AI-powered DAOs will revolutionize the organization and financing of economic entities.
He argues that the decentralized nature of ownership and operation of AI is essential to address the challenges related to data usage and payments, highlighting the role of Ethereum in fueling the future AI-human economy.
Conclusions
In conclusion, Arthur Hayes’ alliance with Ritual marks a crucial moment in the convergence of cryptographic expertise and decentralized AI innovation.
His role as a strategic consultant indicates a commitment to advancing the financialization of AI within the framework of Ritual, guiding the platform towards new horizons in the applications of smart contracts.
With a rich background in the cryptocurrency trading revolution, Hayes brings a unique perspective to Ritual’s vision, promoting the integration of financial markets with cutting-edge AI technologies.
As Ritual prepares to launch its testnet in the coming months, Hayes’ involvement underscores the platform’s commitment to transparency, collaboration, and decentralized growth.
This collaboration not only enhances Ritual’s capabilities, but also helps shape the decentralized future of AI, promoting an open and accessible landscape for the transformative potential of artificial intelligence across a broader economic spectrum.
