Injective launches Nvidia GPU derivative market

Injective has launched the first-ever on-chain market for the trading of the rental prices of the Nvidia H100 chip units.

Injective (INJ) announced the launch of the first Nvidia GPU derivative market on Aug. 18, noting the financial primitive will allow anyone to trade the rental prices of Nvidia’s H100 GPUs.

The derivatives marketplace will be powered by Squaretower, a platform that turns artificial intelligence power into tradable assets. With this unveiling, Injective brings AI compute to traders, with hourly rental rates of the Nvidia H100 GPUs – a market expected to grow to over $280 billion over the next five years.

Squaretower will provide an hourly update of the H100s rental prices, in real time from top compute providers. 

Squaretower is available on Helix, a decentralized exchange that offers trading for onchain perps, spot and traditional finance assets 24/7.

According to Injective, the Nvidia H100 hourly trading update that taps into Squaretower’s oracle network, is the first step towards tokenizing the world.

Injective’s tokenization push

This is part of Injective’s growing traction as a tokenized assets platform.

Developments include projects set to bridge AI and crypto like iBuild and the iAgent SDK. Onchain AI agents are huge in the sectors of predictive analytics, automated trading, cross-chain execution and multi-agent collaboration.

In July, Injective unveiled onchain SBET, bringing to the market the first onchain digital asset treasury. Other than treasuries, Injective has introduced onchain stocks for Nvidia, Meta and Robinhood among others. The platform’s iAssets also offers commodities such as gold and silver as well as foreign exchange markets.

The filing of a staked exchange-traded fund for INJ with the announcement of the Canary Capital Staked INJ ETF is another big milestone for Injective.