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Nevermined Raises $4M to Build the PayPal for AI-Commerce

1. Nevermined raised $4 million for AI payment infrastructure. 2. They aim to create 'PayPal for AI' transactions. 3. The project targets dynamic payments for AI agents. 4. McKinsey predicts AI could add $13 trillion to the economy. 5. Nevermined secures key partnerships for expanding AI-Commerce.

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Why Bullish?

The rise of AI-based payment solutions can enhance PYPL's service relevance, similar to how digital wallets impacted transaction volumes.

How important is it?

Growing investment in AI payment systems indicates a shift in payments landscape, impacting traditional platforms like PYPL.

Why Long Term?

As AI commerce evolves, long-term adoption of AI payment systems may influence consumer behavior and platforms like PYPL.

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ZUG, SWITZERLAND, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Nevermined, the leading provider of AI payment infrastructure for AI-to-AI transactions, today announced it has raised over $4 million in funding to accelerate the adoption of AI-Commerce by enabling AI agents to pay and get paid. The round was led by Generative Ventures, with participation from Polymorphic Capital, NEAR, Halo Capital, Factor Capital, Lyrik Ventures and Arca. In addition, the round includes investment from notable AI luminaries, namely David Minarsch and Oak from Valory, the builders of Olas, Richard Blythman and Mark Schmidt from Naptha, and Ben Fielding from Gensyn. Nevermined is developing the "PayPal for AI" to enable seamless payments between AI agents, actively driving the transformation of all commercial landscape. The company's protocol is designed to address the unique challenges of AI-Commerce, where traditional rigid payment systems fall short. Nevermined helps AI developers monetize their applications by managing payments, usage tracking, and credit systems - essentially acting as a finance and billing management platform for AI agents and tools. "The future of commerce isn't just about humans trading with humans anymore. It's about AI agents transacting with other AI agents, and we need entirely new payment systems to facilitate that," said Don Gossen, CEO of Nevermined. "This funding will allow us to accelerate our mission of building the financial rails for the emerging AI economy." Founded by Don Gossen and Aitor Argomaniz, who previously built Ocean Protocol, Nevermined combines deep expertise in machine learning, AI, data, and Web3 to solve the complex challenges of AI-Commerce. The company has already secured partnerships with key industry players including Olas, Naptha, peaq, FLock, and Combinder. "Current payment infrastructure was built for static transactions, like selling t-shirts on the internet, where the price of a small shirt doesn’t change over time," noted Aitor Argomaniz, CTO of Nevermined. "AI agents are dynamic and require an equally dynamic payments system that can respond instantly to new requests. We've built the foundation already, and now we want to grow user adoption from both AI builders and AI agents." The investment comes at a crucial time as McKinsey Global Institute predicts AI technologies could deliver additional economic output of $13 trillion by 2030. Nevermined aims to unlock this potential by enabling efficient monetization through variable pricing models and ensuring easy transactions between AI agents. The funding will be used to accelerate the go-to-market strategy, expand the team, and strengthen partnerships within the AI ecosystem. Nevermined is focused on building the essential financial infrastructure that will power the future economy of trillions of AI agents and scale AI-Commerce. For more information about Nevermined, visit https://nevermined.io/ About Nevermined Nevermined is the leading provider of AI payment infrastructure for AI-to-AI transactions, enabling the rise of a new era of AI-Commerce. Founded by ex Co-Founder and VP of Engineering at Ocean Protocol, Don Gossen (CEO) and Aitor Argomaniz (CTO), Nevermined allows AI agents to discover, negotiate, and compensate each other in real-time, powering an economy of trillions of AI agents. By providing the essential payment rails and infrastructure for direct AI transactions, Nevermined is positioning itself as the leader in the emerging AI-Commerce space. Check out Nevermined here: https://nevermined.io Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

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