Grayscale unveiled a new digital asset fund on Wednesday that is dedicated to investing in tokens with an AI focus. The Grayscale Decentralized AI Fund, according to the business, “was designed to capture the growth of protocols at the intersection of blockchain and artificial intelligence,” and it is available to authorized investors.
The Fund aims to introduce investors to protocols in the developing crypto ecosystem’s artificial intelligence market. As of July 16, 2024, the Fund comprises a variety of Decentralized Artificial Intelligence (AI) crypto protocols, such as Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR). However, the fund will rebalance on a quarterly basis.
In the decentralized AI ecosystem, each coin in this basket has a distinct function. Pantera Capital-backed Bittensor provides an AI model marketplace. AI training datasets can be stored decentralized with the help of Filecoin. Livepeer transcodes videos on the Ethereum blockchain and improves the quality of video broadcasting. The GPU power required for demanding AI tasks is provided by Render, which is based on Solana.
Why Is Grayscale AI Fund Important?
Among the most revolutionary technologies of the modern era are blockchain and AI. The new fund from Grayscale leverages their intersection. Chatbots, picture creation, authenticity checks, decentralized data storage, and GPU computing are just a few of the services provided by these protocols. Grayscale’s head of product and development, Rayhaneh Sharif Askary, highlighted the potential of these protocols to mitigate the hazards associated with the rapid advancement of AI. She emphasized how decentralization, accessibility, and transparency are embodied in blockchain-based AI systems. Grayscale seeks to maximize rewards while balancing risk.
Permissionless access to use or develop AI technology is made possible by decentralized AI, which uses blockchain technology to spread ownership and governance over AI services and aims to make AI more transparent.
Three main types of decentralized AI assets are included in Grayscale’s fund. These include Decentralized AI services, such as chatbots and image-generating services, which are built using protocols. Second, protocols create defenses against deepfakes, bots, and false information, among other issues connected to centralized AI. Lastly, decentralized markets for data storage, GPU processing, 3D rendering, and streaming services are among the infrastructure and resources essential to the advancement of AI technology.
This news is republished from another source. You can check the original article here
