Grayscale Investment has launched a new fund focused on decentralized artificial intelligence (AI), named Grayscale Decentralized AI Fund LLC, and officially entered the market for shitcoins, with Near (NEAR), Filecoin (FIL), and Render (RNDR) listed as the highest weighted assets. On the product structure, the operating income of 10-30 billion yuan products are 401/1288/60 million yuan, respectively.
According to The Block, the Grayscale Decentralized AI Fund LLC aims to promote AI investment in the cryptocurrency industry, and will sponsor three key areas: AI services, solving centralized AI usage problems, and developing infrastructure related to AI with quarterly restructuring.
(Source: Grayscale)
The first batch of projects for the fund includes Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR), with Near, Filecoin, and Render as the highest weighted assets in the fund.
(Source: Grayscale)
Rayhaneh Sharif-Askary, the head of Grayscale products and research, said that the fund provides early opportunities for investing in decentralized AI, helping to mitigate the fundamental risks posed by the proliferation of AI technology.
He said, "Since its establishment in 2013, the rise of disruptive technology has created attractive opportunities for grayscale investors. We believe that the launch of Grayscale Decentralized AI Fund provides an opportunity for early-stage investment in decentralized AI."
"Blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency. The Grayscale team firmly believes that these protocols can help alleviate the fundamental risks that come with the proliferation of AI technology," she continued.
Grayscale launched a trust fund focused on NEAR in May this year, offering investors diversified cryptocurrency investments.
According to The Block's data dashboard, Grayscale Bitcoin Trust is the second-largest bitcoin ETF after BlackRock IBIT, with assets under management of $17.68 billion as of July 16.
(Source: The Block)
By the end of 2023, a key track in the new cryptocurrency bull market appears, the Decentralized Physical Infrastructure Networks (DePIN), which is well-known as the market. Through token incentives, DePIN encourages users to share personal resources to build infrastructure networks, including storage space, communication flow, cloud computing, energy and other fields.
In DePIN, underutilized idle computing resources are integrated with production relationships through algorithm channels, supplying effective social demand, thereby saving costs and reducing energy consumption.
According to the DePIN market value rankings on CoinGecko, the top five projects include Render, Filecoin, The Graph, Arweave, and Theta Network.
(Source: The Block)
The Filecoin project, known to the crypto market, was launched in 2020, providing cloud storage services similar to Google Cloud and Amazon Web Services. The project connects users who require storage space with users who have free space on their hard drives and rewards the infrastructure providers with FIL tokens. The entire facility is provided for use by users who need to store data.
In the traditional data storage field, high pricing from centralized cloud storage on the supply side and low resource utilization on the consumer side have created dilemmas for users and businesses. Additionally, there are risks such as data breaches. Filecoin breaks this with a decentralized storage solution, providing users with different services at a lower price.
From the supply side, Filecoin is a decentralized distributed storage network that incentivizes users to provide storage space. Providing more storage space is directly related to receiving more block rewards.
Another top project in the DePin track, Render Network, uses distributed computing power to directly share idle GPU computing power from individuals and businesses worldwide to provide image or video rendering services. Providers of computing power are rewarded with RNDR tokens and demand parties such as Hollywood post-production rendering subsequently pay the fees, forming an ecosystem.
This means that the DePIN track will reshape the commercial model of traditional industries and thus better stimulate corporate creativity. For businesses, startups can reduce startup costs and capital expenditures, network workers have direct ownership and control, and enjoy token incentives, while consumers get a quality, scalable, and Web3-spirited service experience.
Near (NEAR), Filecoin (FIL), and Render (RNDR)