Grayscale has introduced a new crypto fund targeting decentralized artificial intelligence protocols, exclusively available to accredited investors. This fund comprises native tokens from Bittensor, Filecoin, Livepeer, Near, and Render.

Announced on July 17, the Grayscale Decentralized AI Fund includes a diverse token basket: Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR). The fund is restricted to accredited investors, making it inaccessible to the general public.

The investment strategy focuses on three main categories within decentralized AI. It encompasses protocols developing decentralized AI services like chatbots and image-generation tools; solutions addressing centralized AI issues such as bot verification, deepfake detection, and misinformation control; and AI infrastructure protocols including decentralized marketplaces for data storage, GPU computation, 3D rendering, and streaming services.

As of July 16, the asset distribution in the fund is TAO at 2.92%, FIL at 30.59%, LPT at 8.64%, NEAR at 32.99%, and RNDR at 24.86%.

Decentralized AI Gains Traction

Web3-based protocols intersecting with AI are growing in number. Sentient raised $85 million in June to develop an open-source AI platform, while Sahara launched a decentralized AI network for creating autonomous knowledge agents for data analysis.

The SingularityNET ecosystem, focused on AI decentralization, recently announced a token merger with Fetch.ai and Ocean Protocol, forming the Artificial Superintelligence Alliance.

Grayscale’s portfolio highlights include Bittensor, which offers a marketplace for creating, training, and sharing AI models with reward incentives. Pantera Capital backs this protocol. Filecoin facilitates decentralized storage and distribution of large datasets necessary for AI training and deployment.

Livepeer operates a decentralized video streaming network on the Ethereum blockchain, utilizing AI algorithms for video transcoding, quality enhancement, and editing. Render, based on Solana, provides a decentralized GPU network for AI tasks requiring substantial GPU resources, such as deep learning model training.

Source: Cointelegraph