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Interest in artificial intelligence (AI) is growing daily, and there is a recent trend of cryptocurrency projects attempting to combine AI with blockchain.

Among AI-related cryptocurrency projects, the most representative type is decentralized graphics processing unit (GPU) projects that rent out GPUs. Decentralized GPUs are a type of decentralized physical infrastructure network (DePIN), which involves uploading unused computing power to the blockchain and renting it out to developers or startups that need computing power.

EdgeMatrixChain (EMC) is one of the DePIN projects that offer GPU rental services. However, it is differentiated from other GPU rental DePINs by its ability to provide DeFi and creative platforms using a Layer 1 blockchain. Previously, in August, EMC secured a total investment of $20 million from VCs such as P2 Ventures and Amber Group for the development of its Layer 1 blockchain.

Why is Decentralized GPU Needed?

Decentralized GPU projects have emerged as a solution to the GPU acquisition problem, which is currently the most important issue in the AI industry.

Since the emergence of Open AI's Chat GPT, there has been a surge in AI development, leading to a sharp increase in GPU demand, while supply remains insufficient. As a result, high-performance GPUs used in AI development are now priced at the level of a car. While big tech companies like Meta and Microsoft have no issues purchasing expensive GPUs, startups and individual developers face ongoing cost challenges.

The demand for GPUs can be seen in Nvidia's third-quarter report, which effectively monopolizes the GPU market. Nvidia reported that its revenue and net profit for the third quarter surged by 94% and 106%, respectively, year-on-year, reaching $33.16 billion and $19.39 billion, exceeding market expectations.

Decentralized GPU DePINs are establishing themselves as an alternative that can significantly reduce the cost of GPU computing resources. Binance highlighted in its first-half report this year that "as interest in AI grows, the cost of computing resources like GPUs has increased," and "decentralized GPU DePINs have emerged as a cost-effective alternative."

There is also hidden demand for decentralized GPUs, particularly from Chinese AI developers sanctioned by the United States. According to the Wall Street Journal, Chinese AI developers have turned to decentralized GPUs as an alternative after being blocked by Amazon Web Services. The Wall Street Journal cited EMC as an example, noting that decentralized GPUs, with features like anonymity through smart contracts, are becoming an attractive option for Chinese AI developers.

EMC, a One-Stop Platform for AI

As mentioned earlier, EMC is a project that rents out the computing power of GPUs. To this end, EMC has currently secured 274 nodes on its blockchain and registered over 3,000 GPUs. The GPUs provided by EMC include Nvidia A100, GeForce RTX 4090, and GeForce RTX 3090.

Among them, the 'SuperPOD,' a cluster made by assembling 1,024 'Nvidia H100' GPUs, is considered EMC's strength. Previously, EMC participated in Token 2049 in Singapore to showcase a live demo of the SuperPOD.

In addition to renting out EMC GPUs, various AI-related services are being provided to users.

First, EMC is conducting a platform business that allows users to develop AI more easily and turn it into content. The EMC AI platform, EMC HUB, includes ▲ AI agent Jarvis Bot that can generate various content, ▲ creative work trading application OmniMuse, and ▲ 3D content creation application ZoZo World.

In addition to these contents, EMC has also focused on building a network suitable for AI usage. Specifically, EMC has implemented technologies such as smart routing and data caching to achieve low latency and high transaction throughput on the network. EMC stated, "EMC aims to become a platform that encompasses almost everything in the AI field," and "developers will be able to smoothly test and launch their AI models within the EMC network."

Moreover, EMC is also providing DeFi services using GPUs. Currently, anyone can purchase the computing power of Nvidia H100 GPUs in token form within EMC, and by staking it through EMC's DeFi, they can earn an annual additional income of about 2.7~7.1% depending on the period. Currently, about 2.6 million EMC tokens are staked in this DeFi service.

According to CoinMarketCap, EMC tokens are trading at $0.079 as of 10 a.m. on the 6th, down 4.91% from the previous day. Approximately 30 million EMC tokens are currently in circulation, accounting for 3% of the total supply (about 1 billion). The market capitalization is around $2.37 million.

Meanwhile, according to EMC, it generates an annual income of about $15 million by providing these services. Although the business scale cannot be considered large yet, the outlook for decentralized GPU projects is generally positive. Data analytics firm Nansen, in a report published with MetaStreet, predicted that "considering DeFi income from GPU rental services, tokenomics, and GPU rental revenue, the total revenue of these services could surge by at least 30% to a maximum of 200%."