- July 17, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Crypto asset manager Grayscale is launching a new fund centered on decentralized artificial intelligence projects, according to a July 17 statement.
The Grayscale Decentralized AI Fund LLC fund aims to give investors access to the growing AI sector within the crypto ecosystem. The fund will rebalance quarterly and include various AI crypto protocols, including Bittensor, which makes up 2.92% of the fund, and Filecoin at 30.59%.
Other assets in the fund include Livepeer, which comprises 8.64% of the fund, NEAR at 32.99%, and Render making up 24.86%.
The fund’s assets fall into three main categories. It includes protocols creating decentralized AI services like chatbots and image generation. It also features protocols addressing centralized AI issues, such as verifying authenticity against bots, deep fakes, and misinformation.
Additionally, it covers resources essential for AI development, including decentralized marketplaces for data storage, GPU computation, 3D rendering, and streaming services.
Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary, said:
“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 is the world’s largest crypto asset management firm, with over $10 billion worth of investments in digital assets like Ethereum, Solana, etc.
AI growth
Grayscale’s decision comes as no surprise, given the explosive growth of the AI sector over the past year, driven by advancements in generative AI tools such as ChatGPT and others.
This technology has captivated Wall Street for over a year, with investors banking on its potential to deliver substantial future profits. Stocks of AI giants like Nvidia have soared during this boom, climbing an impressive 507% over the past two years.
Crypto-focused AI projects have also emerged as a profitable crypto narrative this year, with the sector recording a 222% gain during the first quarter, according to Coingecko.
Meanwhile, the overall AI market surpassed $184 billion in 2024, marking a significant increase of nearly $50 billion from 2023. Experts predict this rapid growth will continue, with the market projected to exceed $826 billion by 2030, according to Statista data.
The post Grayscale launches decentralized AI fund amid AI crypto market growth appeared first on CryptoSlate.
