In a major move highlighting the fusion of AI and blockchain, Grayscale has officially launched its Artificial Intelligence Crypto Sector, marking a pivotal shift in how decentralized AI is recognized within the crypto space.
๐ Announced on May 27, this becomes the sixth sector in Grayscaleโs Crypto Sectors framework โ showcasing the explosive growth of decentralized AI, which surged from a $4.5B market cap in Q1 2023 to $21B today.
๐ก The new sector pulls together 20 leading AI-focused crypto projects that were previously scattered across categories like Smart Contracts and Consumer & Culture.
๐ The AI Crypto Sector is divided into 3 core subsectors:
1๏ธโฃ AI Platforms โ Infrastructure for decentralized AI (e.g., Bittensor, Near)
2๏ธโฃ AI Tools & Resources โ Data & compute providers (e.g., Grass, Akash)
3๏ธโฃ AI Apps & Agents โ Real-world AI applications & autonomous agents
๐ Bittensor currently leads the sector by market cap and stands out as a foundation for AI development in Web3.
Grayscale says decentralized AI can democratize access, reduce bias, and boost transparency in the AI industry โ all while riding the growing interest in blockchain-based AI innovation, distributed training, and AI-powered microtransactions.
๐ญ With the AI Crypto Sector still in its early stages, Grayscale believes this fusion of AI and crypto is only just beginning to reshape the future of tech.