Grayscale Launches Decentralized AI Fund Targeting Artificial Intelligence Protocols in the Cryptocurrency Space

Grayscale Investments has introduced its latest offering: the Decentralized AI Fund, targeting artificial intelligence protocols within the cryptocurrency space.

Accredited investors now have a new option for exposure to the intersection of artificial intelligence and cryptocurrency with the launch of the Grayscale Decentralized AI Fund.

The fund, announced in a July 17 press release, will focus on protocols in the burgeoning AI sector within the crypto ecosystem. Grayscale’s latest fund will concentrate on a select group of protocols, including Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR).

The fund will be rebalanced quarterly and aims to capitalize on the decentralized, accessible, and transparent nature of blockchain technology in the AI sector. The fund will target three primary categories: protocols developing decentralized AI services, solutions addressing AI-related challenges, and essential AI infrastructure. These areas encompass a range of applications from chatbots and image generation to authenticity verification against bots and deepfakes, as well as decentralized platforms for data storage, GPU computation, and 3D rendering.

As of July 16, 2024, the fund’s asset allocation stood with Near (NEAR) at 32.99%, Filecoin (FIL) at 30.59%, Render (RNDR) at 24.86%, Livepeer (LPT) at 8.64%, and Bittensor (TAO) at 2.92%.

“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 & 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.”

This launch follows Grayscale’s introduction of the Dynamic Income Fund (GDIF) in May. GDIF caters to high-net-worth investors, focusing on proof-of-stake tokens and aiming to optimize returns through dynamic strategies and staking rewards.

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