Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

Grayscale launches new fund for decentralized artificial intelligence

The BlockThe Block2024/07/17 13:40
By:MK Manoylov

The Grayscale Decentralized AI Fund LLC aims to bolster investment endeavors regarding AI in the cryptocurrency industry.The fund will finance three key areas: AI services, addressing problems related to centralized AI use, and developing AI-related infrastructure.

The crypto asset manager is launching a new fund focusing on decentralized artificial intelligence. 

The Grayscale Decentralized AI Fund LLC, which will rebalance quarterly, aims to bolster investment endeavors regarding AI in the cryptocurrency industry, according to a release shared with The Block. Decentralized AI projects already included in the fund's basket as of today's launch are Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR). Near, Filecoin and Render are, respectively, the top-weighted assets in the fund. 

The release continues that the fund will focus on financing projects in three areas: chatbots, generative images and other decentralized AI uses; addressing centralized AI problems like deep fakes, misinformation and authenticating bots; and AI-related infrastructure like GPU computation, data storage, decentralized marketplaces and other services

“The rise of disruptive technologies has created compelling opportunities for Grayscale’s investors since our 2013 inception, and we believe the launch of the Grayscale Decentralized AI Fund provides an opportunity to invest in Decentralized AI at its earliest phase," said Rayhaneh Sharif-Askary, Grayscale’s head of product and research, in a statement. "The blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency, and the Grayscale team feels strongly that these protocols can help mitigate the fundamental risks emerging alongside the proliferation of AI technology.”

Grayscale launched a trust focusing on NEAR in May of this year to give investors diversified crypto exposure. NEAR traded at $6.13, experiencing a 0.42% increase in the past 24 hours, as of 9:13 a.m. ET (13:13 UTC) as of July 17. 

The crypto asset manager's spot bitcoin exchange-traded fund, the Grayscale Bitcoin Trust, is the second largest spot bitcoin ETF behind BlackRock's IBIT, The Block's Data Dashboard shows. GBTC held $17.68 billion in assets under management as of July 16. 


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Stake to earn
CEC, QTLX, GDV and other popular new coins are in hot progress!
Stake now!

You may also like

MetaCene (MAK): Unlocking Real Value in Virtual Worlds

What is MetaCene (MAK)? MetaCene (MAK) is a play-to-earn game that offers an innovative economic ecosystem where players can earn cryptocurrency and NFTs through various in-game activities. MetaCene provides players with a rich, immersive gaming experience set in a futuristic world where players ca

Bitget Academy2024/09/20 09:46

Why Bitcoin Isn’t Experiencing an Explosive Surge? Analytics Company Reveals the Real Reason

Why doesn't the Bitcoin price show sudden increases like before? The analysis company shared the report containing its thoughts.

Bitcoinsistemi2024/09/20 09:36

What Does Bitcoin Dominance Tell Us? Why Is It Increasing? Here is the Latest Report

Bitcoin (BTC) dominance continues to rise. So what's behind this rise? Here's the data.

Bitcoinsistemi2024/09/20 09:36

Which Country Owns the Most Bitcoin? El Salvador is in Fourth Place

Interestingly, El Salvador is at the bottom of the list of governments with the most Bitcoin. Here are the details.

Bitcoinsistemi2024/09/20 09:36