The governance foundation for decentralized artificial intelligence (AI) ecosystem 0G has unveiled an $88 million fund for the creation of AI applications.

The 0G Foundation is seeking submissions from teams developing decentralized finance (DeFi), on-chain data marketplaces for secure data sharing, AI-driven gaming and social applications, according to an emailed announcement Wednesday.

The fund is backed by a number of big-name investors in the blockchain venture capital sector, such as Hack VC, Delphi Ventures and OKX Ventures.

This trio of firms also contributed to the $40 million seed funding round into Zero Gravity Labs, a core 0G contributor, in November.

The widespread increase of AI in many areas of the economy has spurred a movement in the blockchain industry to introduce decentralization into the way data is gathered and used in order to prevent AI being dominated by just a few powerful brokers.