1kx and Blockchain Capital lead $30 million round into IP-focused Camp Network
Quick Take
- 1kx and Blockchain Capital led Camp Network’s $30 million Series A, also supported by Lattice, Maven 11, OKX, among others.
- Camp Network enables users to register intellectual property onchain using a bespoke “proof of provenance” consensus mechanism.
1kx and Blockchain Capital have led a $30 million Series A funding round for Camp Network, a new Layer 1 blockchain geared around intellectual property.
“The raise supports Camp Network’s mission to scale its Layer 1 blockchain, which enables users to register and tokenize their IP onchain, train and deploy AI agents, and participate in distributions for the use of agents trained on their IP in a transparent, enforceable way,” the project wrote in a statement.
Lattice, TrueBridge, Maven 11, Hypersphere, OKX, and Paper Ventures, among others, contributed capital, which will be used to scale the blockchain. A representative for the project said the team initially expected “the raise would be more like $10 million,” indicating growing interest in the project.
Camp’s team is largely motivated by the rise of artificial intelligence, which they call an “existential risk to all creators.” However, that doesn’t mean they’re shying away from it. Long term, they aim to build “the world’s largest repository of user-owned IP” and offer a marketplace for “rights-cleared training data” so that autonomous agents can be developed while compensating creators.
“As models continue to be trained on content taken without consent or attribution, creators are losing visibility, control and ultimately compensation,” they write.
The Layer 1 network uses a bespoke “proof of provenance” algorithm designed for registering IP onchain. This algorithm also records provenance, usage rights, and attributions when the data is monetized in a derivative work. It also enables the fine-tuning of AI agents on user-owned IP that “interact with data transparently and automate monetization back to contributors.”
Camp also offers isolated execution environments, meaning developers can launch app chains with tailored blockspace and compute settings that fit their project’s needs. According to the announcement, Camp’s testament is launching with 15 live decentralized applications.
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