Highlights:
- The company highlights that blockchain’s open-source code and consensus mechanism ensure transparency and reliability.
- Olas reported that its AI agents are currently handling over 700,000 transactions per month, with a 30% month-over-month growth rate.
Olas raised USD 13.8 million to launch Pearl, a decentralized AI agent marketplace developed on blockchain technology.
1kx spearheaded the funding round, witnessing the participation of Sigil Fund, Tioga Capital, Zee Prime Capital, and Spaceship DAO.
Originally launched as Autonolas DAO in 2021, Olas developed a platform for autonomous AI agents within the blockchain and crypto space. These AI agents are software programs capable of performing tasks and making decisions with minimal human intervention. They can gather and analyze data, then act independently based on predefined objectives.
With Pearl, Olas aims to enable users to “co-own” the AI agents they create and deploy. Unlike traditional AI services that rely on centralized systems, Olas leverages blockchain technology to distribute transactions and processing across decentralized nodes.
Decentralized agents operate through multiple instances, each managed by different operators. The company highlights that blockchain’s open-source code and consensus mechanism ensure transparency and reliability.
Additionally, Olas offers sovereign agents—lightweight AI programs that users can run locally or in the cloud. These agents are designed for small-scale operations, offering simplicity and low operational costs without requiring extensive coordination.
“Pearl’s agent app store represents a significant step forward in democratizing access to AI agents,” said David Minarsch, Olas project member and Chief Executive of Olas core contributor Valory AG. “By giving everyone AI agents they can not only use, but fully own and customize, we’re turning the status quo on its head. At a time when advances in AI can seem increasingly daunting, Olas is uniquely giving control of AI back to the user.”
Pearl is a desktop application that enables users to own and operate their autonomous Olas AI agents, allowing them to manage these agents on the blockchain for various applications. This constitutes use cases like cryptocurrency trading and autonomous social media accounts.
Olas reported that its AI agents are currently handling over 700,000 transactions per month, with a 30% month-over-month growth rate. To date, these agents have processed more than 3.5 million transactions across nine blockchains, with two million of those occurring between Olas agents themselves.
As a part of its announcement, Olas is also introducing an accelerator program that will offer up to USD one million in grants. Developers can submit proposals for integrating their AI agents into Pearl, along with a user adoption strategy. Selected teams may receive up to USD 100,000 in rewards for achievements such as having their agent added to the store, being recognized as the most valuable agent, reaching key milestones, and meeting other performance metrics.
