Grayscale hopes to capitalize on the huge hype surrounding artificial intelligence (AI) and is launching a fund with tokens focused on the technology. Big names in the fund include Near, Render and Filecoin.
Decentralized Artificial Intelligence?
In the announcement, Grayscale touts “decentralized artificial intelligence” as one of the most promising opportunities for its clients. The fund, which is only available to accredited investors in the United States, provides exposure to the performance of various AI protocols within crypto.
“Blockchain-based AI protocols embrace the principles of decentralization, accessibility, and transparency. The Grayscale team strongly believes that these protocols address some of the fundamental risks of the rise of AI,” said Rayhaneh Sharif-Askary, Grayscale’s Head of Product and Research.
At the launch of the fund, only Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near Protocol (NEAR) and Render (RNDRD) are included in the fund. Other names may be added in the future.
Will you invest in these projects or will you stick to bigger names like Bitcoin and Ethereum?
Prices are skyrocketing
The fund announcement caused the tokens that Grayscale is taking to skyrocket. FIL and RNDR saw gains of 7%, while LPT and TAO climbed 13% and 11%. NEAR benefited less from the fund, rising 0.3%.
At Grayscale, they seem to be a firm believer in the AI projects that are currently alive in the crypto space. We will have to wait and see. Ultimately, many projects have failed to deliver on their big promises in recent years.
Ultimately, it remains to be seen to what extent blockchain technology offers advantages for AI applications. So far, investing in chipmakers has been the best idea to profit from the AI hype.
Companies like Nvidia have gone through the roof in recent months.
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Source: https://newsbit.nl/grayscale-lanceert-ai-fonds-met-near-render-filecoin-en-meer/
