Grayscale has launched the Grayscale Decentralized AI Fund LLC, focusing on decentralized artificial intelligence investments within the cryptocurrency sector.
The fund, which will rebalance quarterly, includes Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR), with Near, Filecoin, and Render as the top-weighted assets.
The fund targets decentralized AI applications, solutions for centralized AI issues, and AI-related infrastructure. Rayhaneh Sharif-Askary highlighted the fund’s potential to invest in decentralized AI at its early stages.
In May, Grayscale launched a NEAR-focused trust, and its Bitcoin Trust (GBTC) remains the second largest spot Bitcoin ETF, managing $17.68 billion.
Artificial intelligence (AI) is mainly controlled by a few major companies. In response, many decentralized AI companies and protocols have emerged to leverage AI’s potential while addressing centralization’s limitations and risks.
These initiatives use blockchain technology to distribute ownership and governance of AI services, provide permissionless access for using or building AI technology, and enhance AI transparency.
Image Credit: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
