The prominent crypto asset manager announced the launch of Grayscale Decentralized AI Fund LLC on July 17, which aims to give investors exposure to protocols in the rapidly evolving artificial intelligence sector within the crypto ecosystem.
The fund will be rebalanced quarterly and currently includes a basket of AI-powered decentralized crypto protocols, such as Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR).
Grayscale’s New Decentralized AI Fund
Grayscale’s Head of Product and Research, Rehana Sharif Askari, confirmed that the recent launch of the Grayscale Decentralized AI Fund will provide an opportunity to invest in decentralized AI in its early stages. The CEO added:
“Blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency, and the Grayscale team feels strongly that these protocols can help mitigate the underlying risks that arise along with the proliferation of AI technology.”
The fund will target funding projects in three main areas: developing chatbots, generated images, and other decentralized AI applications; addressing issues related to centralized AI, such as deepfakes, misinformation, and bot verification; and supporting AI-related infrastructure, including GPU computing, data storage, decentralized marketplaces, and many other services.
The dangers of centralization in artificial intelligence
In my drawing press releaseGrayscale noted that the impetus behind the fund’s emergence is the fact that AI is largely concentrated in a few prominent companies that form the core of driving the technology’s development and widespread adoption.
In response to the continuous technological advancements and practical needs, many decentralized AI companies or protocols have emerged that are designed to harness the full potential of AI technology.
The asset manager noted that these entities also address some of the limitations and risks associated with centralization. These decentralized AI initiatives, which use blockchain technology to distribute ownership and governance, provide unfettered access to AI technologies and improve transparency.
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