AI-specialized blockchain startup OpenLetzer announced on the 5th that it will operate a grant program worth a total of $5 million (approximately 7 billion won) for domestic developers. This is its first official move shortly after establishing the foundation earlier this month. It will participate in project discovery and mentoring together with its strategic partner, HashKey Capital.
OpenLetzer's core technology is 'Proof of Contribution'. It permanently records the contribution of data, algorithms, and code used in AI model training on the blockchain and automatically distributes rewards through smart contracts. The goal is to build a 'Pay-per-AI' ecosystem where all participants, including data providers and model developers, can transparently earn profits.
OpenLetzer is recruiting AI models and applications that solve specific industry problems in areas such as law, medicine, finance, and K-content. The support scale is up to $500,000 (about 700 million won) per team. Teams applying to the program must manage data on OpenLetzer's self-developed L1 blockchain and secure transparency and traceability.
They will select support teams based on technical excellence, AI suitability, social impact, and infrastructure utilization. A representative from Ram, one of OpenLetzer's partner companies, said, "Korea has a world-class AI developer community" and "This program will be an opportunity to promote the development of industry-specific AI models".
