Author: Asher, Odaily Planet Daily

Recently, with the strong rise in the price of Bitcoin, the altcoin market has seen a rare "big rebound". Among them, the prices of popular sectors such as Meme and AI have performed particularly well. Last night, Grayscale announced the establishment of a decentralized artificial intelligence new fund - Grayscale Decentralized AI Fund LLC. The fund will focus on funding three key areas: artificial intelligence services, solving problems related to centralized artificial intelligence usage, and developing infrastructure related to artificial intelligence.

In addition, Grayscale has announced some decentralized artificial intelligence projects included in the fund, including TAO, FIL, LPT, NEAR, and RNDR. After the announcement, the AI sector generally rose, and these projects held by Grayscale all saw an increase of over 5% in a short period of time. Below, Odaily Planet Daily will quickly introduce the basket of projects of Grayscale's newly established decentralized artificial intelligence new fund.

Bittensor (TAO)

Introduction

Image source:Official Twitter

Bittensor is a decentralized network that connects machine learning models globally, improving the accuracy and efficiency of solving complex problems by collaborating multiple specialized AI models. This method combines the unique advantages of each model, producing more precise and comprehensive results compared to traditional single-model methods, and is more outstanding in effect. Additionally, Bittensor (TAO) is the first AI sector coin listed on Binance this year.

Focus

Capital support: According to "Fortune" magazine, Bittensor has received over $200 million in venture capital. It is reported that Polychain, a venture capital company founded by Olaf Carlson-Wee, an early employee of Coinbase, incubated Bittensor in 2019 and holds about $200 million worth of Bittensor tokens TAO. In addition, according to an insider, the investment fund Dao 5, founded by Polychain alumnus Tekin Salimi, holds $50 million worth of TAO and is also an early supporter of the Bittensor ecosystem. Digital Money Group is another supporter of Bittensor, holding about $100 million worth of TAO.

Theft incident: After the attack on July 3, Bittensor immediately stopped all on-chain transactions to minimize losses. After fixing the vulnerability, Bittensor mainnet was reopened on July 13 and released version 7.3.0 of Bittensor.

Filecoin (FIL)

Introduction

Image source:Official Twitter

The Filecoin project is a decentralized storage system. The Filecoin protocol was first proposed in 2014 and was initially developed as an incentive layer for the InterPlanetary File System (IPFS), a peer-to-peer storage network. Like IPFS, Filecoin is an open protocol built on the attributes of IPFS, with the same underlying P2P network and content addressing capabilities.

Focus

According to Messari's release of the Filecoin Q1 2024 status report, there are several key points worth noting:

• The active trading volume increased by 9% compared to the previous quarter, and the utilization rate increased from 18% in Q4 2023 to 23% in Q1 2024.
• By the end of Q1 2024, over 2000 clients had loaded data on Filecoin, with 508 clients loading large datasets (over 1000 TiB), a 9% increase from the 465 clients in Q4 2023.
• Pyth and Uniswap V3 (Oku.trade) were launched in Q1 2024, and deposits on GLIF increased by over 2 times.
• As of March 31, 2024, over 3400 unique contracts were deployed on the Filecoin Virtual Machine (FVM), a 26% increase from the end of Q4 2023.
• Filecoin FVM TVL exceeded $600 million in Q1 2024, nearly doubling compared to the previous quarter.

Additionally, the Filecoin Foundation recently established partnerships with artificial intelligence platform developer SingularityNET and data ecosystem collaboration infrastructure provider Nuklai.

Livepeer (LPT)

Introduction

Image source:Official Twitter

Livepeer is a decentralized video streaming network built on Ethereum. As a scalable platform-as-a-service, it provides a solution for the real-time media layer in the decentralized development stack for developers who want to add real-time or on-demand video to their projects. Livepeer can increase the reliability of centralized broadcast service video streams while reducing associated costs by up to 50 times. After OpenAI released Sora on February 16, Livepeer announced that the community will work to introduce these features into the Livepeer network in the coming months as part of the AI video plan, officially starting a new narrative for AI video.

Focus

According to Messari research data, driven by live streaming platforms, the usage of the Livepeer network increased by 31% in Q1 2024, reaching a historical high. In addition to transcoding, Livepeer also plans to introduce AI video computing capabilities into its network.

Usage of the Livepeer network increased by 31% in Q1 2024

Furthermore, Livepeer announced the launch of a subnet with AI computing capabilities. The Livepeer AI subnet allows hardware providers to earn fees by contributing GPUs to AI inference tasks (such as text to image, text to video, and image to video). This subnet is a branch of the Livepeer main network, supporting new artificial intelligence features while still using the Livepeer protocol for node discovery and payments. The Livepeer AI subnet is expected to be launched in three stages, with the first stage completed and currently being optimized, and is planned to be launched in Q3 2024.

Near (NEAR)

Introduction

Image source:Official Twitter

NEAR Protocol is a first-layer blockchain based on sharding and PoS, designed to incentivize computer networks to run a platform for developers to create and launch decentralized applications. Unlike other blockchains, the NEAR Protocol network is built from scratch and is an easily adoptable network for developers and their end users, while still providing the scalability needed to serve these users. NEAR currently has three main narratives: Chain Abstraction (CA), Data Availability (DA), and Artificial Intelligence (AI).

Focus

According to Messari research data, NEAR Protocol is one of the biggest winners in Q1 2024. NEAR's TVL in the first quarter was $335 million, a 163% increase compared to the previous quarter and a 547% increase over the past six months. The number of daily active addresses is 1.2 million, a 42% increase compared to the previous quarter and a 377% increase over the past six months. NEAR's stablecoin market value increased by 176% compared to the previous quarter, reaching $214 million. The total number of NEAR accounts has exceeded 100 million.

Near Protocol related data

In addition, based on official updates in Q2 this year, the focus is on developing AI-related products, including plans to use AI chatbots to help non-coders create DApps, collaboration with the aggregation protocol NEAT Protocol designed to expand AI applications on NEAR, accelerating the development of AI applications with a stake delegation of 1 million NEAR tokens, and the NEAR Foundation's incubation program to build infrastructure for user-owned AI.

Render (RNDR)

Introduction

Image source:Official Twitter

Render Network is a GPU-based decentralized rendering solution provider that offers decentralized graphics processing capabilities for next-generation 3D content creation. RNDR is its native utility token. As a decentralized GPU rendering platform, Render Network aims to advance next-generation rendering and AI technologies, allowing artists to expand GPU rendering work to high-performance GPU nodes around the world on demand.

Focus

Currently, the reasons for Render's popularity and the influx of practical application demand are:

• Rapid development of LightField Labs' holographic imaging technology, in which Render Network's parent company OTOY invested in February this year, requiring rendering work for the digital restoration process.
• Partnership with Stable Diffusion, where large language models generate images, and text-to-video/3D scenes are supported by Render Network.
• Apple briefly mentioned the creative workflow software Octane, supported by Render Network, in its keynote speech showcasing the M4 chip on its latest iPad.

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