Grayscale Introduces Decentralized AI Fund for AI-Based Crypto Projects
The Grayscale Decentralized AI Fund is the newest fund introduced by cryptocurrency asset management Grayscale Investments.
The Grayscale Decentralized AI Fund is the newest fund introduced by cryptocurrency asset management Grayscale Investments. Accredited investors can access blockchain-based AI protocols through this fund.
Near (NEAR) at 32.99%, Filecoin (FIL) at 30.59%, Render (RNDR) at 24.86%, Livepeer (LPT) at 8.64%, and Bittensor (TAO) at 2.92% are among the stocks that make up the fund as of July 16. To remain in line with market trends and the most promising decentralized AI protocols, the fund will undergo a quarterly rebalancing.
Grayscale launches a new fund for decentralized artificial intelligence (AI): Grayscale Decentralized AI Fund LLChttps://t.co/Rynmrn1Yid
— John Morgan (@johnmorganFL) July 18, 2024
Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary, emphasized the importance of the new fund in tackling dangers associated with centralized AI. Blockchain-based AI protocols, according to Sharif-Askary, encourage decentralization, accessibility, and openness, which can help reduce new hazards brought on by the quick development of AI technology.
This debut coincides with a rise in interest in alternatives to centralized AI. Decentralized AI projects have benefited from Nvidia’s better-than-expected earnings last month, which highlighted the continued interest in and investment in AI technologies.
The three primary areas of focus for the Grayscale Decentralized AI Fund include establishing infrastructure linked to AI, addressing issues associated with centralized AI, and providing AI services. The fund will specifically concentrate on projects that deal with deep fakes, misinformation, and bot authentication; they will also address issues related to chatbots, generative images, and other decentralized AI applications; and they will support infrastructure such as GPU computation, data storage, and decentralized marketplaces.
The new fund is a reflection of Grayscale’s dedication, since the company’s founding in 2013, to investigating potential in disruptive technology. Given the potential of blockchain-based AI protocols to reduce fundamental risks connected with the spread of AI technology, Sharif-Askary thinks that the Grayscale Decentralized AI Fund presents an opportunity to invest in decentralized AI at an early stage.
We’re pleased to announce the launch of our newest private placement investment product, Grayscale Decentralized AI Fund. Available to eligible accredited investors.$NEAR $RNDR $FIL $LPT $TAO
See important disclosures or speak directly to a team member: https://t.co/gYetdms280 pic.twitter.com/OvNhec95io
— Grayscale (@Grayscale) July 17, 2024
This year, AI has emerged as one of the crypto industry’s most lucrative segments. Coingecko claims that in the first quarter of 2024, the AI industry saw a 222% increase. In 2024, the whole AI market was expected to reach over $184 billion, a substantial rise over 2023. According to experts, this increase will continue, and by 2030, the market is expected to reach a value of about $826 billion.
With over $10 billion worth of digital assets, including Ethereum and Solana, Grayscale is the largest crypto asset management company in the world. In May, the business also introduced a trust with an NEAR emphasis that offers diverse exposure to cryptocurrencies. As of July 16, Grayscale’s Bitcoin Trust had $17.68 billion in assets under management, making it the second-largest spot bitcoin ETF.
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