Many people ask me which projects have a valuation of over $1 billion and have not yet issued tokens.
The ones I am more familiar with include: Farcaster, Berachain, Monad, Grass.
Most are public chain infrastructure projects, but the last one, Grass @getgrass_io, is quite special as it is an AI + data platform project deployed on Solana, which has been very popular and should be somewhat known to everyone. They announced the latest round of Series A financing on September 21, led by @hack_vc, with insiders revealing that the valuation for this round of financing is nearly $1 billion.
The reason Grass gained popularity initially was due to the gimmick of 'earning pocket money by sharing idle bandwidth.' These few words are indeed very appealing. I researched this project because most people have idle devices or bandwidth at home. If we can utilize these idle devices and bandwidth to earn some airdrop rewards, why not?
To briefly describe Grass's business model, it first incentivizes users to run Grass nodes and contribute idle bandwidth through 'token rewards.' Then, it utilizes the idle bandwidth contributed by users to gather quality public data from the internet. Finally, it sells this quality data to enterprises with data needs (such as AI models, machine learning, healthcare, education, and finance) to achieve profit.
In terms of financing, Grass has publicly disclosed a total financing amount of $4.5 million, with the latest valuation being $1 billion. Leading institutions include Polychain, Hack VC, No Limit Holdings, and Tribe Capital; participating institutions include Delphi Digital, Bitscale Capital, Big Brain Holdings, Cogitent Ventures, Brevan Howard Digital, Lattice Capital, Builder Capital, and Typhon Ventures.
According to the latest official data, there are currently over 2 million users running nodes on Grass, sharing idle bandwidth resources. This means that the airdrop from Grass could potentially reach at least over 2 million users, which might be the widest number among recent airdrop projects. I personally look forward to the airdrop from Grass, although the trend of counteracting airdrops has become commonplace recently. However, for a high-valuation project like Grass, the probability of significant rewards is still relatively high. After all, with a high valuation, there is more money to be distributed to users.
OKX launched pre-market trading for $GRASS last week. The current pre-market price is around $1, and considering the total token supply of $1 billion, the current pre-market price corresponds to a total market value of $1 billion, which is similar to the latest institutional financing valuation. This valuation is still quite reasonable.
