Chromia partners with Elfa AI for crypto market insights

Chromia has announced a partnership with Elfa AI, a platform that uses artificial intelligence to provide real-time insights into the cryptocurrency market.

This collaboration marks the first investment from Chromia's recently launched Data and AI Ecosystem Fund, aimed at supporting projects that use data in innovative ways within the blockchain space.

Elfa AI analyses large datasets from social media platforms like X (formerly Twitter), Telegram, and on-chain data sources to help users identify market opportunities.

The platform allows users to customise trading signals, execute trades directly in the app, and share insights with others.

Chromia’s blockchain infrastructure will support Elfa by improving data transparency and accessibility through public verification of the data used within the platform.

According to Yeou Jie, Head of Business Development at Chromia, "Elfa AI has shown potential by utilising AI to deliver real-time, actionable information in the fast-paced crypto market. We see a natural alignment between their data-driven approach and Chromia’s blockchain infrastructure."

The partnership will also explore integrating Elfa AI with Chromia’s developer tools to streamline data retrieval and analysis.

The goal is to enhance how AI technology generates actionable market insights for traders.

Over time, the collaboration could allow users to create their own tools using open-source datasets stored on Chromia’s blockchain, further advancing the capabilities of both platforms.

Chromia is a Layer-1 relational blockchain platform created to assist developers with dedicated dapp chains and adaptable fee structures.

Meanwhile, Elfa AI is a platform leveraging artificial intelligence to analyse social media and on-chain data, offering real-time insights for cryptocurrency traders.