Grayscale launches new decentralized AI fund

Asset manager Greyscale has launched a new crypto fund that offers investors decentralized artificial intelligence protocols.

According to the July 17 announcement, Grayscale will launch a basket of tokens that includes decentralized AI fund Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR).

The funds are only available to accredited investors, meaning they are not available to the general public.

The new fund's strategy focuses on three core decentralized AI assets. It includes protocols for building decentralized AI services such as chatbots and image-generation services. Solutions for centralized AI-related problems including authentication on bots, deep fakes and misinformation. and protocols that build AI infrastructure, such as decentralized marketplaces for data storage, GPU computing, 3D rendering, and streaming services.

As of July 16, TAO has 2.92% of the basket, FIL at 30.59%, LPT at 8.64%, NEAR at 32.99% and RNDR at 24.86%.

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Decentralized AI is gaining traction

A growing number of Web3-based protocols are working on AI interfaces. Messenger, for example, raised $85 million in funding in June to develop an open-source AI platform. Another recent startup, Sahara, is deploying a decentralized AI network that facilitates the creation of autonomous Knowledge Agents (KAs) for data analysis.

The SingularityNET ecosystem, one of the pioneers in AI decentralization, recently announced a token merger with Fetch.ai and Ocean Protocol to create the Artificial Superintelligence Alliance (ASI).

From Greyscale's portfolio, Bittensor offers a marketplace where users can create, train and share AI models, earning rewards for contributing to the network. Panthera Capital supports the protocol. Meanwhile, Filecoin provides decentralized storage and large data sets needed for AI training and deployment.

LivePair, on the other hand, is a decentralized video streaming network built on the Ethereum blockchain. It uses AI algorithms to convert videos to multiple formats, enhance quality and perform video editing tasks using AI. Solana-based Render is a decentralized GPU network that can be used for valuable GPU resources for AI tasks such as training deep learning models.

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