In recent years, the surge in machine learning and artificial intelligence applications has led to an unprecedented demand for high-performance computing. This growing need has exposed significant challenges, including limited access to computational resources, high costs, and a concentration of power within large tech corporations. These barriers hinder innovation and prevent smaller organizations and researchers from competing on a level playing field. Addressing these issues, NetMind Power offers a decentralized solution, utilizing idle GPU resources and driven by NetMind Token (NMT), a utility token integral to its ecosystem for transactions and rewards.

What is NetMind Token(NMT)?

NetMind Power traces its origins to the vision of Kai Zou, founder and CEO of NetMind.AI. With a strong background in AI and Web3, Zou set out to merge these fields to democratize access to AI resources. In early 2022, NetMind.AI, headquartered in London and in Washington D.C., began developing NetMind Power, a decentralized platform designed to revolutionize AI model training and inference by leveraging idle GPU resources worldwide. This platform underpins the ecosystem’s functionality and provides the foundation for its associated token, NetMind Token (NMT), which is key in incentivizing and rewarding contributors.

NetMind Power gained attention among machine learning professionals and researchers for its innovative approach to addressing challenges in AI training, including high computational costs and resource concentration. This momentum led to conceptualizing the NetMind Chain, a dedicated blockchain introduced in late 2023. The NetMind Chain facilitated decentralized task management, transactions, and governance, becoming the backbone of the NetMind Power platform.

The NetMind Token (NMT) was launched as the platform’s native utility token. Operating on the Ethereum blockchain, NMT was designed to enable transactions and reward contributors within the ecosystem. The token was crucial in expanding the platform’s functionality, from incentivizing GPU resource sharing to supporting seamless, decentralized AI workflows.

NetMind Token’s development journey reflects a commitment to empowering AI innovation through decentralization, addressing industry inequities, and fostering a global AI community.

How Does NetMind Power Work? Platform Architecture, NetMind Chain and Products

NetMind Power’s Platform Architecture

NetMind Power’s platform architecture represents an intuitive approach to AI model training and inference by democratizing access to high-performance computing resources. Designed to address the challenges of affordability, accessibility, and efficiency in AI development, the platform utilizes a decentralized, distributed system that harnesses idle GPU resources worldwide. By decentralizing AI workloads, NetMind Power enables businesses, research institutions, and developers to train and deploy models without relying on costly, centralized data centers.

At the core of the platform is its training system, which enables AI model training in a decentralized environment. Instead of processing entire models on a single GPU, NetMind Power employs data partitioning and model aggregation techniques. Training datasets and AI models are divided into smaller, manageable components, distributed across multiple GPUs, and processed in parallel. This architecture ensures faster training times and optimized resource use. Key methods such as data parallelism and model parallelism are implemented based on the size and requirements of the models. After processing, the platform aggregates the results using techniques like Federated Learning and parameter averaging, preserving both accuracy and privacy.

Source: netmind.ai

An intelligent resource allocation and scheduling system dynamically assigns workloads to the most suitable GPUs. The system minimizes network latency and efficiently allocates tasks across nodes for optimal performance. When a “best choice” GPU is unavailable, the scheduler strategically distributes tasks across nodes, maintaining seamless operations. This dynamic orchestration enables the platform to handle workloads efficiently for single-GPU tasks or large-scale, multi-node operations.

To complement model training, security and privacy are central to NetMind Power’s design. Advanced encryption protocols safeguard user data, while secure multi-party computation techniques protect sensitive information throughout training. Techniques such as differential privacy add additional layers of security, ensuring that datasets remain private even when distributed across the decentralized network.

The inference system builds on this infrastructure by allowing users to deploy and run AI models efficiently. Using containerization, models and their dependencies are packaged into lightweight, portable containers, enabling seamless deployment across the network. The system dynamically scales up or down to meet workload demands, employing load balancing to optimize resource utilization and reduce latency.

Source: netmind.ai

In addition to technical efficiency, NetMind Power incorporates incentive mechanisms that reward participants who contribute idle GPU power with NetMind Tokens (NMT). A smart contract-based reward system ensures fair and automated compensation based on contributions to training and inference tasks.

NetMind Chain

NetMind Chain is the backbone of the NetMind Power platform, enabling a decentralized, transparent, and efficient ecosystem for AI computing. Built on Ethereum 2.0 technology, NetMind Chain utilizes the Proof of Authority (POA) consensus mechanism, ensuring low maintenance costs while maintaining robust performance. POA relies on trusted validators who are rigorously vetted for reliability. This consensus model guarantees efficiency and trust, allowing NetMind Power to decentralize all tasks, transactions, and operations without compromising speed or scalability.

The NetMind Power network operates through distributed machines called Mind Nodes. Mind Nodes are responsible for validating transactions and building the blockchain, earning rewards through transaction fees (Gas fees) in return. To incentivize broader participation and ensure governance fairness, NetMind introduces staking rewards for users who stake NMT tokens against these nodes. The top 21 Mind Nodes, determined by the highest staked NMT, are elevated to Master Nodes, granting them additional authority and rewards. These Master Nodes collectively receive 10% of the total daily staking rewards, distributed equally among the 21 nodes. The remaining 90% is allocated to users staking NMT on these Master Nodes, fostering an inclusive and merit-driven reward mechanism.

Source: netmind.ai

The NetMind Chain integrates smart contracts to automate reward distribution, task scheduling, and fee payments, ensuring seamless operations across the ecosystem. These smart contracts enable users to withdraw their earned NMT rewards transparently while maintaining trust and openness. Additionally, task scheduling dynamically allocates computing power to users, ensuring fairness and optimal performance. Fees for GPU rentals, AI model training, and inference services are also managed via smart contracts, enabling users to access resources at competitive prices.

While the training process itself occurs locally on participants’ GPUs, NetMind Chain facilitates secure transactions and governance, creating a scalable environment for decentralized AI computing. Beyond its core platform, NMT tokens are available on Binance Smart Chain (BSC) and Ethereum, providing liquidity and allowing global trading with fiat currencies. This cross-chain availability ensures flexibility and accessibility for users worldwide, amplifying NMT’s role as a utility token within the Web3 ecosystem.

What is the NMT Coin?

NMT is the utility token powering NetMind Power’s decentralized AI computing platform. Its maximum supply is capped at 147.57 million units, of which 33.45 million are already in circulation (December 2024).

NetMind Token (NMT) is the core utility token of the NetMind Power platform, designed to facilitate payments, rewards, and governance across its decentralized AI computing ecosystem. Operating on the NetMind Chain, NMT supports GPU rental, AI model training, and inference, making it integral to the platform’s operations. The token also plays a critical role in incentivizing GPU providers who contribute computational power, ensuring resource availability and network reliability.

The new tokenomics, effective April 16, 2024, allocate 113 million NMT for gradual issuance over 10 years, replacing the previous distribution framework. This includes 57.5 million NMT (50.9%) dedicated to mining rewards for computational power providers. These tokens are distributed progressively, with 20 million allocated over the first two years to reward early contributors. Another 16.5 million NMT (14.6%) is reserved for staking rewards, incentivizing liquidity provision, and long-term engagement. Additionally, 16.5 million NMT (14.6%) is set aside for ecosystem growth, supporting platform expansion and development efforts.

Strategic investors and advisors receive 7.5 million NMT (6.6%) to foster partnerships, while the NetMind team is allocated 10 million NMT (8.8%) as a reserve for long-term incentives. Finally, 5 million NMT (4.4%) is dedicated to early GPU contributors, recognizing their foundational role in supporting the platform’s early success. Tokens are distributed based on clear vesting schedules, ensuring sustainable growth and stability within the ecosystem.

Beyond its role as a reward mechanism, NMT facilitates governance by empowering users to propose and vote on protocol upgrades and network parameters. Staking on Master Nodes allows users to earn additional rewards, further strengthening decentralization and community participation. Additionally, NMT supports cross-chain transfers through a dedicated bridge, enabling seamless integration between the NetMind Chain and Binance Smart Chain for broader market accessibility.

\
GPU Rental on NetMind Power

NetMind Power offers a globally distributed GPU rental platform designed to provide high-performance GPU instances at significantly reduced costs. Users can access top-tier GPUs like NVIDIA RTX 4090 and H100, saving over 90% compared to traditional providers. The platform is tailored for machine learning engineers, offering seamless SSH access and no-code fine-tuning capabilities. With real-time pricing adjustments and API support, NetMind Power simplifies GPU rentals while ensuring scalability and affordability. It is an ideal solution for those seeking cost-effective and efficient computing resources for AI and ML tasks.

Model APIs

NetMind Power provides a comprehensive suite of Model APIs to integrate advanced AI capabilities into various applications. From large language models like Meta-Llama 3.1 to text-to-video solutions, these APIs enable support for text, image, audio, video, and more. The platform allows for easy integration with pay-as-you-go pricing, offering both pre-built models and customization options. By leveraging NetMind Power’s APIs, users can quickly expand application functionalities, delivering cutting-edge AI-powered solutions with flexibility and efficiency.

Fine-Tuning

NetMind Power enables users to fine-tune pre-trained AI models for customized performance. The platform supports advanced models like Meta-Llama 3.1 and Qwen2.5, utilizing precision techniques such as bf16 for improved memory efficiency. Fine-tuning costs are based on model size, token usage, and the number of epochs, offering a cost-effective solution starting at $0.48 per million tokens. With support for LoRA fine-tuning and customizable workflows, NetMind Power provides an efficient way for users to optimize AI models to meet specific project requirements.

Severless Inference

NetMind Power delivers a low-cost, serverless inference platform for deploying AI models with maximum flexibility. It supports rapid deployment of private models, automatic scaling based on traffic, and token-based billing for efficient resource utilization. The platform eliminates infrastructure maintenance, allowing users to focus on AI innovation while reducing costs. With pay-as-you-go pricing and support for a variety of AI applications, NetMind Power offers an efficient and scalable inference solution tailored to meet evolving demands.

NetMind Token Use Cases

For AI developers and researchers, NMT is the primary medium of exchange for accessing GPU services. Developers use NMT to rent computational power on the network to train machine learning models and run inference tasks, ensuring cost-efficient and scalable access to high-performance resources.

In addition to GPU services, NMT is the native gas fee for transactions on the NetMind Chain. Each transaction executed within the ecosystem, such as renting GPUs, transferring tokens, or staking, incurs a gas fee payable in NMT. This ensures smooth operation, maintaining transparency and decentralization across the network.

NMT also grants users governance rights within the platform’s decentralized framework. Token holders can stake their NMT with one of the 21 elected master nodes, influencing the network’s operations and decisions. By participating in staking, users indirectly impact the voting power of nodes, fostering a community-driven governance model.

The NetMind DAO further enhances NMT’s utility by allocating 20% of the total token supply to community-building initiatives. These funds are distributed based on community-voted-on proposals, ensuring continuous platform improvement that aligns with user needs. NMT fuels innovation, governance, and growth within NetMind Power’s AI-driven ecosystem through these combined use cases.

Is NMT a Good Investment?

NMT offers significant potential by addressing the growing demand for decentralized AI computing power, enabling affordable access to idle GPU resources for developers and researchers. Its integration with the NetMind Power platform ensures a strong utility case, driving AI model training and inference adoption. However, a notable concern lies in the platform’s reliance on sustained network participation. If GPU contributors or AI developers do not engage consistently, the ecosystem could face resource shortages, impacting its scalability and long-term viability despite its innovative approach.

How to Own NMT?

To own NMT, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account and get it verified and funded. Then ,you are ready to go through the steps to buy NMT.

News on NetMind Token

As announced on NetMind.AI’s official blog on September 26, 2024, NetMind.AI has proudly become an official support partner of the University of Cambridge’s Department of Computer Science and Technology. Joining a prestigious group of over 90 companies, including Amazon and NVIDIA, this partnership reinforces NetMind.AI’s mission to democratize AI training through decentralized technologies. The collaboration will involve sponsoring research, mentoring students, and fostering innovation in machine learning and decentralized systems, empowering future AI pioneers and driving meaningful advancements in AI technology for the benefit of all.

Take Action on NMT

Check out NMT price today, and start trading your favorite currency pairs.

• NMT/USDT