Boba Network Secures $70M to Advance AI-Powered Blockchain Technology
The Boba Governance Foundation has announced a $70 million investment from Awaken Foundation and LDA Capital to accelerate development of the Boba Network. This Layer-2 blockchain solution specializes in supporting AI-powered dApps, combining artificial intelligence with decentralized applications. In a parallel development, the Foundation resolved outstanding questions about BOBA tokens through an agreement with the FTX Recovery Trust, strengthening the network’s foundation for future growth.
Strategic Funding for Next-Generation Blockchain
The investment will drive innovation in three key areas:
- Enhancing network infrastructure for improved speed and security
- Expanding opportunities for developer participation
- Accelerating creation of advanced AI-powered dApps
“This funding represents a major step forward in our mission to establish Boba Network as the premier platform for intelligent blockchain applications,” said Alan Chiu, CEO of Enya Labs, a core contributor to the network.
Resolution of BOBA Token Situation
The agreement with FTX Recovery Trust includes two significant components:
- Full return of all BOBA tokens to the Foundation
- An 18-month option for the Trust to purchase up to 29.4 million tokens at $0.09 each
David Acutt of the Boba Governance Foundation described this as “a critical milestone that removes uncertainty and allows us to focus squarely on ecosystem development.”
Roadmap for Network Development
Looking ahead, the Foundation has outlined several priorities:
- Continuing to strengthen the Layer-2 blockchain infrastructure
- Providing comprehensive support for developers through grants and resources
- Focusing on practical applications of AI-powered dApps across industries
Nattaphol Vimolchalao, Director at Awaken Foundation, commented: “We believe Boba Network‘s unique approach to combining AI with blockchain will drive meaningful innovation in decentralized technology.”
About the Supporting Organizations
The Boba Governance Foundation is a non-profit dedicated to advancing the Boba Network ecosystem. Awaken Foundation specializes in supporting transformative blockchain projects, while LDA Capital brings extensive experience in funding high-growth technology ventures. Warren Baker, Managing Partner at LDA Capital, noted: “Our investment reflects our confidence in Boba Network‘s potential to shape the future of intelligent blockchain solutions.”
