NetMind AI is a distributed platform for sharing computing resources, enabling users to collaborate, train deep learning models, and develop AI applications on large-scale networks. Kai Zou is the founder and CEO of Netmind. ^[1]

Overview

NetMind is a distributed platform for sharing computing resources, allowing users to collaborate, train deep learning models, and develop AI applications on large-scale networks. Its mission is to create a global network of computing power for AI models by utilizing idle GPUs from users worldwide. NetMind Power offers a platform for large-scale distributed computing, integrating heterogeneous computing resources globally and using grid and voluntary computing scheduling architecture and load-balancing technology. ^[2]

NetMind aims to democratize access to computing power for businesses and research institutions, making developing and running AI models easier and more affordable. It provides a low-latency, widely connected, easy-to-manage platform for distributed deep-learning training and inference. ^[2]

Products

Netmind Power

NetMind Power is a machine learning and AI training, fine-tuning, and inference platform targeting machine learning professionals, researchers, and software developers. Participants who contribute their idle GPU resources to the network are rewarded with NetMind Tokens. A smart-contract-based system automatically distributes rewards based on each participant's contribution to the training process. The platform supports various AI models and frameworks, allowing users to work with their preferred tools and technologies. ^[3]

NetMind Power uses APIs and standard data formats to ensure compatibility with popular machine learning libraries and frameworks. This decentralized approach provides efficient AI computing and contributes to environmental sustainability by reducing the need for dedicated data centers, lowering energy consumption, and decreasing the carbon footprint. The three core components of NetMind Power are the training platform, the inference platform, and NetMind Chain and Token, the platform's utility token. ^[3]

Netmind Chain

The NetMind power network is built on and governed by the blockchain, NetMind Chain, which decentralizes all tasks, transactions, and functions on the platform. The training process occurs locally on the machines used for training, not on the blockchain. A utility token, NMT (NetMind Token), facilitates the blockchain's operation. NetMind Chain uses Ethereum 2.0 technology, including the POA-authoritative proof consensus mechanism and smart contracts compatible with the Ethereum chain. ^[4]

Unlike POW, POA does not require extensive resources to maintain network performance, resulting in lower maintenance costs. In contrast to POS (Proof of Stake) and DPOS (Delegated Proof of Stake), where owning more tokens increases the likelihood of becoming a node responsible for block production, POA requires validators to undergo a series of reviews to ensure their reliability. ^[4]

NetMind Power employs a decentralized management method with distributed technology. The system comprises numerous distributed machines called Mind Nodes. Mind Nodes validate transactions and build the blockchain, earning a gas fee as a reward. Users can stake NMT against Mind Nodes to receive staking rewards. The 21 Mind Nodes with the most NMT staked against them become Master Nodes. ^[4]

Master Nodes receive an additional reward based on their authority, collectively earning 10% of the total daily staking reward, distributed equally among the top 21 Master Nodes. The remaining 90% of the staking reward is distributed among users who stake on the top 21 Master Nodes and provide liquidity to official trading pairs. ^[4]

NMT

NetMind Token (NMT) is the native utility token of the NetMind Chain, with a total supply of 147,571,163 tokens. All tokens are locked in a smart contract and will gradually be unlocked. Netmind launched a new tokenomics framework on April 16th, 2024, where 113,000,000 NMT will be issued over the next 10 years. NMT serves multiple functions within the platform, including as a payment method for training and inference services and as rewards for users who contribute their idle GPU resources to the network. ^[5]

NMT has the following allocation: ^[5]

• 62.5 million NMT, 55.31% of new issuance, and 42.35% of the new total supply are designated as Mining Rewards for providers of computational power to the network.
• 16.5 million NMT, constituting 14.60% of new issuance and 11.18% of new total supply, is allocated as Staking Rewards for users participating in staking and liquidity provision.
• 16.5 million NMT, representing 14.60% of new issuance and 11.18% of new total supply, is designated as the Ecosystem Growth Fund to expand and enrich the ecosystem.
• 7.5 million NMT, 6.64% of new issuance, and 5.08% of the new total supply are reserved for strategic investors and advisors.
• 10 million NMT, representing 8.85% of new issuance and 6.78% of new total supply, is allocated as the Team Fund for the NetMind technical team.

Netmind Chat

NetMind AI offers NetMind Chat, a customizable chatbot designed for seamless, human-like interactions for personal and business use. This conversational AI chatbot understands natural language, responds accordingly, and improves over time through user feedback. ^[6][7]

NetMind Chat serves various purposes, including customer service, entertainment, education, and health. It can be integrated with websites, social media, messaging apps, and voice assistants and personalized to match user language, tone, personality, and appearance preferences. NetMind Chat enhances communication and engagement, providing information, suggestions, and solutions to user queries. ^[6][7]

Netmind Avagi

NetMind Avagi is a customizable digital human model crafted by users, allowing them to design realistic appearances, movements, and expressions. Users can animate digital humans using voice, text, or gestures for diverse purposes like entertainment, education, marketing, or social media. The platform introduces digital entities embedded with AGI (Artificial General Intelligence) to elevate human abilities, facilitating real-time animated conversations through intelligently generated video segments and providing users with an immersive conversational experience. ^[8]

Netmind Life

Netmind Life is a comprehensive platform designed to simplify complex health information and provide actionable strategies for achieving a longer and healthier life. It aims to empower individuals by offering personalized recommendations tailored to their health status and goals. Utilizing the power of AI, Netmind Life provides insights ranging from behavioral changes to specific longevity therapies, helping users navigate their journey toward improved well-being. ^[9]

Partnerships

Harper AI

On February 22, 2024, Netmind AI announced a collaboration with Haiper AI, known for its groundbreaking work in Artificial General Intelligence. Haiper AI's advanced perceptual foundation model has revolutionized AI-generated videos, particularly in transforming text-based content. In this partnership, NetMind.ai offered Haiper AI resources like computing power and GPUs for model training, extending similar support to all its business partners for maximizing infrastructure and product utilization. ^[10]