Asset manager Grayscale is launching a new investment fund focused on decentralized artificial intelligence (AI) in the cryptocurrency sector. Which assets are involved?
Grayscale launches fund combining AI and cryptocurrencies
The asset manager Grayscale recently announced the launch of a new investment fund for artificial intelligence (AI) decentralized in the cryptocurrency sector:
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 fund named ” Grayscale Decentralized AI Fund LLC » will finance three key areas:
- AI services
- Solving the problems associated with the centralized use of AI
- the development of AI-related infrastructure
Thus, through this new fund, Grayscale intends to support investment efforts concerning AI in the crypto sector.
Decentralized AI projects already included in the fund's basket at launch include: Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR).
💡 Learn more about Near – NEAR Protocol (NEAR), the blockchain that aims to optimize interaction between developers and users
The distribution of these assets, although it may change over time, is known as: 
Grayscale's Fund on Decentralized AI for the Cryptocurrency Sector Breakdown
Buy Bitcoin and Cryptocurrencies ETN with XTB
Grayscale's ambitions
According to a Grayscale press release shared with our colleagues at The Block, The fund will focus on financing projects in 3 areas :
- chatbots, generative images and other decentralized uses of AI;
- solving centralized AI problems like deep fakes, disinformation and authentication bots;
- AI-related infrastructure such as GPU computing, data storage, decentralized marketplaces, and other services.
👉 Also in Grayscale news: Ethereum (ETH) spot ETF: Grayscale announces fees 10 times higher than average
Rayhaneh Sharif-Askary, Grayscale's head of product and research, touted the benefits of artificial intelligence combined with blockchain technology:
Blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency, and the Grayscale team believes these protocols can help mitigate the fundamental risks that are emerging alongside the proliferation of AI technology.
Recall that Grayscale owns the 2nd largest Bitcoin spot ETF in the world after BlackRock's IBIT.
Cryptoast Research: Don't Spoil This Bull Run, Surround Yourself With Experts
Sources: Grayscale X account, The Block
The #1 Crypto Newsletter 🍞
Receive a daily crypto news recap by email 👌
What you need to know about affiliate links. This page may feature investment-related assets, products, or services. Some links in this article may be affiliate links. This means that if you purchase a product or sign up for a site from this article, our partner pays us a commission. This allows us to continue to provide you with original and useful content. There is no impact on you and you can even get a bonus for using our links.
Investing in cryptocurrencies is risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers must do their own research before taking any action and only invest within the limits of their financial capacities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with a high return potential implies a high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of these savings. Do not invest if you are not prepared to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Passionate about the blockchain ecosystem, I like to deepen my knowledge and share my discoveries. In a perpetual quest to learn more about cryptos, I recently joined the Cryptoast Research team where I provide weekly fundamental analysis.
Theo Zananiri
22 articles
