Grayscale Launches Decentralized AI Fund for Crypto Investors
Grayscale Investments has launched the Grayscale Decentralized AI Fund LLC, targeting top altcoins within the decentralized AI sector.
This new fund is exclusively available to accredited investors and aims to capture the growth potential of blockchain-based AI protocols.
According to Rayhaneh Sharif-Askary, Grayscale’s Head of Product and Research, these protocols embody principles like decentralization and transparency, mitigating risks associated with AI proliferation.
Initially featuring five prominent tokens, the fund focuses on various aspects of AI technology. Bittensor (TAO) supports decentralized AI services such as chatbots and image generation.
Filecoin (FIL) and Livepeer (LPT) address issues like authenticity and misinformation through decentralized solutions. Near Protocol (NEAR) and Render (RNDR) provide critical infrastructure for AI development, including decentralized marketplaces for data and computation.
READ MORE: Ethereum Eyes Potential Outperformance Against Bitcoin Post-ETF Launch
Following the fund’s launch, FIL and RNDR saw a 7% increase in price, while LPT and TAO experienced gains of 13% and 11%, respectively. NEAR showed a more modest gain of 0.3% on the day. Grayscale’s move into decentralized AI comes amidst a surge in AI-related sectors during the first half of 2024, demonstrating resilience and growth across smart contract platforms and crypto services.
Grayscale’s strategic expansion into AI-focused funds aligns with its broader crypto investment initiatives, including the recent launch of the Grayscale Dynamic Income Fund (GDIF), which targets crypto staking. These developments underscore Grayscale’s commitment to leveraging the intersection of AI and blockchain technologies to deliver value to investors in the evolving digital asset landscape.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
