The founder of Community Labs launches the incubator program AO Ventures to promote the development of Arweave and AO

ChainCatcher news, Tate Berenbaum, founder of the encryption startup Community Labs, has launched a 10-week incubator program called AO Ventures, aimed at promoting the development of Arweave and AO.

It is stated that the program will start in April and hold a Demo Day in June. More than $35 million in funding commitments have already been made to the investment pool.

Reportedly, the Arweave network is used for "permanent information storage," while AO is described as a "super parallel computer," with the core goal of "combining the benefits of trust minimization with the speed of traditional computing environments."