Farmsent to enhance smart farming with Nuklai AI tools as peaq raises $35M amid token launch Farmsent to enhance smart farming with Nuklai AI tools as peaq raises $35M amid token launch
Nuklai and peaq partnership aims to disrupt DePIN ecosystems with AI and data monetization, starting with the agricultural marketplace Farmsent.
2 min read
Updated: May. 17, 2024 at 10:15 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Nuklai, an on-chain smart data platform, and peaq, a layer-1 blockchain for decentralized physical infrastructure networks (DePINs), have announced an integration aimed at enhancing AI and data monetization tools for DePINs, starting with the global Web3 marketplace for farmers, Farmsent.
The news comes as peaq completed a token launch on Coinlist, raising $35 million from over 14,500 wallets in one of the largest campaigns the platform has seen in two years, which was oversubscribed by $15 million.
The integration between Nuklai and peaq seeks to expand the array of AI and data tools available to DePINs on peaq. By leveraging Nuklai’s specialized smart data infrastructure, DePINs can enhance their solutions through quality datasets and industry insights while also benefiting from fair data monetization opportunities. Per Nuklai, the collaboration will harness data from over 400,000 devices, vehicles, machines, and robots within the peaq ecosystem, which bridges blockchain technology with real-world industries and economies.
This partnership comes at a time when the number of IoT devices is projected to grow significantly, generating vast amounts of data. Nuklai aims to address this by consolidating the fragmented data landscape into an on-chain smart data ecosystem that emphasizes sharing, requesting, evaluating, and monetizing data. The platform’s transformation of raw data into high-quality smart data is intended to enhance its utility for AI models, benefiting enterprise clients by improving production efficiency and predictive analytics.
Jochem Herber, Head of Ecosystem at Nuklai, stated that Nuklai will equip DePIN projects with the necessary tools to start monetizing or leveraging their data, positioning Nuklai as the primary AI layer for DePINs due to peaq’s established presence in this segment.
A significant aspect of this integration is collaborating with Farmsent and consumer-facing businesses that use peaq IDs. Farmsent has over 160,000 farmers signed up for its middleman-free DePIN and marketplace ecosystem, which enhances data sharing and collaboration within the global food supply chain.
Farmsent leverages blockchain technology to optimize the food supply chain. It streamlines the trading process and ensures food security by reducing intermediaries, lowering prices, and increasing transparency. With its decentralized product passports (DePPs), Farmsent records and verifies the journey of agricultural products, providing a transparent and tamper-proof record that empowers small farmers and builds consumer trust.
The partnership with Nuklai is expected to enhance Farmsent’s capabilities by incorporating advanced AI tools to process and analyze agricultural data collected through sensors, human input, and third-party sources. Nuklai’s AI engine transforms this data into actionable insights, fostering a shareable data economy. This integration benefits Farmsent by providing valuable insights and contributes to a more data-driven agricultural future.
According to Matthijs de Vries, Founder and CEO of Nuklai, the secure and seamless flow of reliable data is crucial for the IoT sector. Integrating peaq’s ecosystem of DePIN innovators is seen as a promising use case for Nuklai’s smart data infrastructure, which will help optimize processes and open new business opportunities.
Till Wendler, co-founder of peaq, emphasized the synergy between AI and the Economy of Things, highlighting that Nuklai’s AI and data infrastructure layers add significant value to the ecosystem and unlock more tools for builders. The partnership is expected to provide mutual benefits, as the data collected by IoT devices and machines will be invaluable to Nuklai’s ecosystem of data users.
As Farmsent continues to develop its blockchain-powered traceability system, the collaboration with Nuklai and peaq is set to further its mission of empowering small farmers, enhancing transparency, and optimizing the food supply chain. By integrating advanced AI and data monetization tools, Farmsent aims to revolutionize the agricultural sector and contribute to global food security.
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Author 
Liam 'Akiba' Wright
Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
