Rice Robotics, the corporate behind the RICE AI platform, stated it’s going to begin promoting its RICE token on Aug. 5 by way of the TokenFi Launchpad.
RICE will energy a decentralized knowledge market for AI-powered robots, which is a part of a broader effort to tokenize robotics knowledge and scale decentralized bodily infrastructure, or DePIN, the Hong Kong-based firm stated in a launch.
The $750,000 presale represents 10% of the entire 1 billion token provide, with a valuation of $7.5 million. Launch companions embrace BNB Chain, DWF Labs, and Floki, a memecoin ecosystem with over 700,000 holders and its personal tokenization platform, TokenFi.
Rice Robotics is thought for its indoor autonomous supply robots, that are deployed at Softbank’s Tokyo headquarters, Mitsui Fudosan’s Tokyo Midtown Yaesu property and 7-Eleven Japan shops, the place they combine with the 7-Now supply app.
The corporate is a part of the Nvidia Inception program and was chosen for MVB Season 10, an accelerator co-hosted by BNB Chain, CoinMarketCap Labs and YziLabs.
In April, Rice Robotics and Floki announced the introduction of the Floki-branded Minibot M1, an AI-powered shopper robotic that runs on the RICE AI platform.
800 Minibot models bought out in a 24-hour presale held in Might, CoinDesk reported. Homeowners shall be eligible for a RICE airdrop at token era.
The token will underpin Rice’s decentralized robotics foundry, the place firms and people can contribute real-world robotics knowledge and obtain token rewards. That knowledge is bought to firms or labs needing specialised coaching units.
In-house basis fashions educated on this knowledge shall be provided on a subscription foundation, with reductions for funds in RICE. The token may also function a governance asset and incorporate a deflationary mechanism by way of token burns funded by platform charges.
Earlier this 12 months, the corporate raised $7 million in pre-Collection A funding from traders together with the Alibaba Entrepreneurs Fund, Soul Capital, Audacy Ventures, Solar Hung Kai & Co., and Cyberport HK.
It additionally gained high honors at a BNB Demo Day occasion in Dubai, the place Binance founder CZ was a choose.