It’s the first of its kind to provide investors with a link to decentralized AI protocols.
Five artificial intelligence-based coins make up the backbone of this fund.
The Grayscale Decentralized AI Fund is the latest offering from the industry-leading crypto asset management Grayscale, which has been making waves across the world. The company made the announcement public recently, and it’s the first of its kind to provide investors with a way to put their money into assets linked to decentralized AI protocols.
Notably, by providing users with a stake in the fund that includes essential fund components, the fund reduces the requirement for users to have direct participation with digital currencies.
Banking on AI-based Coins
Moreover, this market-moving product from Grayscale seems to have gotten a lot of momentum. Especially, in the midst of the worldwide surge in AI and associated protocols. Also, today, the company made it clear in their official statement that the AI coins fund provides customers with a layer of protection. By doing away with the difficulties associated with purchasing, holding, and safeguarding digital currencies directly. The Grayscale Decentralized AI Fund is the name of this fund.
At the same time, five artificial intelligence-based coins make up the backbone of this fund. Included in this group are Near Protocol (NEAR), Filecoin (FIL), Render (RNDR), Livepeer (LPT), and Bittensor (TAO).
Furthermore, curiously, all of the aforementioned components are intended to indicate the combined value of the fund. Also, each of the five tokens has a different percentage in the fun. NEAR has 32.99%, FIL has 30.59 percent, RNDR has 24.86%, LPT has 8.64 percent, and TAO has 2.92%.
The Net Asset Value (NAV) per share was $9.97 as of July 16th, which is another important fact to note. In response to the rising demand for AI coins, this trailblazer aims to become a major player in the cryptocurrency market.
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