Grayscale, a leading crypto asset manager, has introduced the Grayscale Decentralised AI Fund LLC to enable early-stage investments in blockchain-based artificial intelligence (AI) protocols.
Announced on July 17th, the fund aims to capitalise on the rapidly evolving sector of decentralised AI within the cryptocurrency ecosystem.
The Grayscale Decentralised AI Fund will rebalance quarterly and initially includes a diverse portfolio of AI-focused crypto protocols such as Bittensor (CRYPTO:TAO), Filecoin (CRYPTO:FIL), Livepeer (CRYPTO:LPT), Near (CRYPTO:NEAR), and Render (CRYPTO:RNDR).
Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, highlighted the fund's objective to support AI protocols that embody principles of decentralisation, accessibility, and transparency.
These protocols are seen as pivotal in addressing challenges like deep fakes, misinformation, and bot authentication, which are prevalent in centralised AI systems.
The fund’s investment strategy focuses on three main areas: advancing decentralised AI applications such as chatbots and generative images, addressing issues inherent in centralised AI technologies, and bolstering AI-related infrastructure including GPU computation and decentralised marketplaces.
Grayscale emphasised the risks associated with centralised AI dominance, noting that a few major companies currently control significant aspects of AI development and deployment.
In contrast, decentralised AI protocols leverage blockchain technology to distribute ownership and governance, promoting open access and transparency in AI innovations.
The launch of the Grayscale Decentralised AI Fund underscores growing investor interest in blockchain solutions for AI, seeking to harness the full potential of AI technologies while mitigating risks associated with centralisation.
This initiative positions Grayscale at the forefront of integrating AI and blockchain, aiming to support projects that redefine the future of artificial intelligence through decentralised and transparent frameworks.