Today we are looking at a new project, Sahara AI, which many fans have recently asked me to analyze.
The image below shows that on June 26 at 8 PM, it will simultaneously launch on OKX and Binance, could it be a major opportunity? Next, let's see whether this AI project is a major opportunity or a scam project.
One. Introduction
Sahara is a trustless, permissionless, and privacy-centered network (built its own POS chain through TeTendermint, which those who understand know is built using the Cosmos SDK public chain), capable of creating customized autonomous knowledge agents (Sahara KA) for individuals and enterprises. By leveraging this decentralized network, everyone can utilize their knowledge capital to explore monetization and automation opportunities through artificial intelligence.
On the platform, AI developers, data providers, and other stakeholders can collaborate using the platform's integrated development tools to create high-quality AI assets together. In this process, the platform ensures that all contributions are securely recorded and transparently attributed, clearly tracing each participant's input. Once created, these AI assets will be made available on the platform, allowing users to explore and utilize these resources. Users can flexibly purchase licenses for access and further development.
Its core is the concept of AI assets, establishing clear ownership and management protocols for private AI resources, including personal data and proprietary models.
Two. Core Component Modules
1. Sahara Blockchain
An optimized Layer 1 blockchain for AI workloads that supports executing precompiled assets management and traceability records.
2. AI Marketplace
Developers, data providers, and users can publish, sell, or purchase AI models, datasets, and knowledge agents here.
3. Decentralized Identity & Reputation
Establish a verifiable contributor identity and reputation system to ensure transparent contribution paths.
4. Knowledge Agents
Semi-autonomous AI agents interact with user data while protecting privacy and security.
5. Data Services Platform (DSP)
A task annotation platform aimed at the general public, where anyone can contribute by labeling images, texts, etc., and earn rewards.
Three. The Sahara AI platform is divided into four layers:
The platform provides a one-stop service for all AI development needs throughout the entire AI lifecycle—from data collection and labeling to model training and service, AI agent creation and deployment, multi-agent communication, AI asset trading, and AI resource crowdsourcing.
• The application layer is the user interface and main interaction point of the Sahara AI platform. It provides users with native built-in applications for building and monetizing AI assets.
• The transaction layer uses the Sahara blockchain—Layer 1 blockchain infrastructure for managing provenance, access control, attribution, and other AI-related transactions throughout the AI lifecycle.
• The data layer provides abstraction and protocols for data storage, access, and transmission. It integrates on-chain and off-chain components to provide seamless data management throughout the AI lifecycle.
• The execution layer provides the necessary off-chain infrastructure to support AI applications, covering a full range of AI functionalities. It offers flexible AI computing protocols and dynamically allocates computing resources to maximize performance, ensure scalability, and enhance robustness.
Four. Financing Situation
May 2024 (Seed Round)
Sahara AI completed seed round financing, raising approximately $6 million, led by Polychain Capital, with participants including Sequoia Capital, Samsung Next, Nomad Capital, and others.
August 2024 (Series A)
Announced the completion of $37 million in Series A financing, led by Pantera Capital, Binance Labs, and Polychain Capital, with co-investors including Samsung, Matrix Partners, dao5, Geekcartel, Foresight Ventures, Alumni Ventures, and others.
Total financing amount: approximately $43 million.
Five. Team Introduction
The team members are as follows; their names and faces are Chinese, so it's likely a Chinese team.
The founder and CEO Sean Ren is quite impressive; he was previously a professor at the University of Southern California and has received honors such as Samsung's Annual AI Researcher, MIT TR 35 Innovator Under 35 (Asia-Pacific), and Forbes 30 Under 30 in Asia for significant contributions to AI research and innovation.
The COO is Zhou, who was previously the investment director at Binance Labs, so it's no surprise they could secure investment from Binance Labs.
Others are relatively ordinary, no further introduction.
Six. Token Economics
The total token supply is 10 billion, distributed as follows: 33.93% for ecological development, 20.75% for community incentives, 15% for core teams, 19.75% for early investors, 8.15% for airdrops, 1% for liquidity, and 1.42% for the buildpad community allocation.
From June 8 to June 14, financing took place on the buildpad platform, raising $8.5 million, with a financing price of $0.06.
The financing price for round A is $0.04. The seed round is $0.005.
Token unlocking is as follows; early investors and core developers will lock for one year, initially releasing 2 billion, with all unlocked in 5 years, but after one year, unlocking to 5 billion will still put significant pressure.
If calculated based on the buildpad financing valuation ($0.06), then the overall FDV would be $600 million; according to the Series A price of $0.04, the FDV would be $400 million. If calculated based on the token financing ratio, which is 20% financing $43 million, then the overall market value would be around $200 million, corresponding to a token price of $0.02.
To summarize this project, there isn’t much innovation; it is essentially an AI asset management platform. In fact, whether it is AI or other things, such as any type of intellectual property or items, can be made into an on-chain asset management platform. What’s the difference? There isn’t any, right? At least I think this concept doesn’t resonate with me, and currently, it can only do data, AI agents, and AI models, which is not fundamentally different from previously introduced AI platforms (like AGIX). From a value investment perspective, I definitely wouldn’t invest in such projects!