Grayscale Introduces AI-Driven Decentralized Fund for Accredited Crypto Investors
Sentiment Status: Positive
Grayscale, a leading asset manager in the cryptocurrency sector, has announced the launch of a new fund dedicated to decentralized artificial intelligence (AI) protocols. Unveiled on July 17, the Grayscale Decentralized AI Fund is designed to give accredited investors access to a selection of AI-focused cryptocurrencies.
Grayscale's new fund includes tokens from five notable decentralized AI projects: Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR). Each of these tokens represents a unique facet of the decentralized AI ecosystem, ranging from AI model marketplaces to decentralized storage solutions and GPU computation networks.
Key Components of Grayscale Decentralized AI Fund
Bittensor (TAO): A decentralized marketplace where users can create, train, and share AI models, earning rewards for their contributions.
Filecoin (FIL): Provides decentralized storage solutions critical for the large datasets needed in AI training and deployment.
Livepeer (LPT): A decentralized video streaming network that uses AI to transcode videos, enhance quality, and perform editing tasks.
Near (NEAR): A blockchain platform that supports a wide range of decentralized applications, including AI services.
Render (RNDR): A decentralized GPU network used for AI tasks that require significant computational resources, such as training deep learning models.
As of July 16, the fund's asset allocation was as follows: TAO (2.92%), FIL (30.59%), LPT (8.64%), NEAR (32.99%), and RNDR (24.86%).
The launch of this fund coincides with a rising interest in the intersection of AI and blockchain technology. Decentralized AI protocols aim to tackle challenges inherent in centralized AI, such as data privacy, scalability, and the risk of deep fakes and misinformation.
Moreover, the fund has three main focus areas: Decentralized AI Services; protocols building services like chatbots and image generation tools, Secondly, AI Problem Solvers; Solutions addressing centralized AI issues, including authenticity checks against bots and deep fakes. And AI Infrastructure; Decentralized marketplaces for data storage, GPU computation, and streaming services.
Growing Web3 Integration
Grayscale's move is part of a broader trend where more Web3-based protocols are integrating AI. For example, Sentient raised $85 million in June to develop an open-source AI platform, and Sahara is creating a decentralized AI network for autonomous knowledge agents.
The inclusion of these tokens in Grayscale's fund shows the increasing recognition of the value and potential of decentralized AI solutions. By providing accredited investors with access to these technologies, Grayscale is positioning itself as a major participant in the landscape of AI and blockchain integration.
Future Prospects
The Grayscale Decentralized AI Fund's focus on disruptive technologies aligns with the company's long-term vision of democratizing access to innovative financial products.
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, emphasized the fund's significance: “The blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency. The Grayscale team feels strongly that these protocols can help mitigate the fundamental risks emerging alongside the proliferation of AI technology”.
Ex-crypto miner and crypto enthusiast since 2019.
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