Quick take:
- Pantera Capital portfolio manager Cosmo Jiang believes every crypto company will soon be an artificial intelligence venture.
- Jiang told DL News he is actively looking for projects leveraging AI to boost blockchain businesses.
- The firm counts crypto exchange companies Coinbase and Bitstamp alongside stablecoin issuer Circle among its portfolio companies.
Pantera Capital has revealed it is raising $1 billion for a new fund that will see up to 20% of the fund ($200 million) dedicated to AI projects.
According to Pantera Capital portfolio manager Cosmo Jiang, every crypto company will soon be an artificial intelligence venture. Jiang’s Web3 venture capital firm has been one of the busiest in the crypto space investing in crypto exchange companies Coinbase and Bitstamp alongside stablecoin issuer Circle.
The company has also been keen on investing in the intersection of AI and blockchain technology, most recently co-leading a $25 million Series A round for Nexus Laboratories, the Web3 company using blockchain technology to help AI agents verify data.
Describing how he views the future of AI in crypto, Jiang told DL News: “Ten,15, 20 years from now, everyone will be using AI.” According to Jiang, telling people you’ve invested in an AI company “will be as stupid as saying ‘I’m investing in a company that has a website.’”
Jiang’s strategy for the intersection of AI and blockchain technology involves identifying projects using AI to improve blockchain businesses or those that use blockchain technology to improve AI businesses.
Jiang even went as far as using Sam Altman’s OpenAI and Worldcoin as the best examples of AI and crypto companies that could be synergistic if they coexisted as one.
OpenAI has disrupted the AI industry with generative AI, while Worldcoin wants to become the world’s leading privacy-preserving human identity and financial network.
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This news is republished from another source. You can check the original article here
