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Optic, startup that enables authentication of non-fungible tokens (NFTs) with the use of artificial intelligence (AI), announced the raise of $11 million in a seed round led by Kleiner Perkins and crypto investment giant Pantera Capital.
The new capital will be used to expand the cost-intensive infrastructure required and onboarding of new engineering talent, the company said.
Other early investors include Lattice Capital, OpenSea, Circle, Polygon, CoinDCX, Neon DAO and Flamingo DAO, among others.
The San Francisco-based company was founded this March and is working on an AI engine with the capacity of processing the millions of new NFTs minted each day. By comparing the new works to existing NFT collections, Optic looks for visual similarities, including flipped images, color changes or slight distortions or fuzziness, which leads to the possible detection of ‘copymints’.