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LONDON - Tiger Royalties and Investments Plc (AIM:TIG), an investment company specializing in technology and mining projects, has announced the acquisition of its own dedicated subnet on the Bittensor network, a proof-of-stake blockchain. This move follows the company’s recent investment in Tao Strategies Singapore and marks Tiger’s further expansion into the decentralized AI sector.
The newly acquired "Tiger Subnet" will operate within the Bittensor ecosystem, where subnets serve as independent incentivized networks with specific purposes and reward systems for participants. The Tiger Subnet will issue its own alpha token, the Tiger Alpha, capped at 21 million tokens, mirroring the fixed supply of Bittensor’s native cryptocurrency TAO.
TAO currently holds a market capitalization of approximately USD $3.3 billion, with daily transactions often surpassing USD $100 million. The acquisition of the Tiger Subnet is intended to enhance Tiger’s position in the Bittensor network and support its broader TAO Strategy.
The company will benefit from dual-revenue streams, earning both TAO block rewards and a share of Tiger Alpha emissions and transaction fees. Miners and validators on the Tiger Subnet will stake Tiger Alpha to participate in governance and secure the network, with the value of the alpha token determined through a mechanism where TAO is swapped into the subnet’s reserve.
Jonathan Bixby, CEO of Tiger, compared the acquisition of a subnet to buying property on Fifth Avenue before Manhattan’s development, emphasizing the potential of these digital assets in the data economy. The Tiger Subnet will enable the company to collect protocol fees, receive TAO rewards, and direct computing power towards valuable AI services.
This strategic step is based on a press release statement and reflects Tiger’s ongoing commitment to leveraging blockchain technology for growth and innovation in the AI space.
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