DNA Fund Invests Heavily in Bittensor's Decentralized AI

DNA Fund is deeply involved in the Bittensor ecosystem, anticipating that decentralized AI could be a significant advancement. Early blockchain adopters are becoming heavily invested in decentralized AI, with platforms such as Bittensor (TAO) fostering growth. These platforms are changing traditional venture capital by allowing promising ideas to naturally attract community support, staking, and liquidity, bypassing institutional gatekeepers.

This information comes from a Cointelegraph interview with Chris Miglino, co-founder and CEO of DNA Fund, alongside Brock Peirce and Scott Walker. DNA Fund manages five funds with different strategies, including high-yield, algorithmic trading, AI compute, liquid token, and venture funds, catering to both company and investor capital. Miglino highlighted the AI compute fund at a DNA House event during the Consensus conference in Toronto.

Miglino mentioned that the firm's primary focus is its AI compute fund, which is heavily involved in the TAO ecosystem, referring to Bittensor, which is a decentralized, open-source machine learning network. Bittensor's network is notable for its subnets, facilitating specialized marketplaces based on specific AI or machine learning applications. DNA Fund is actively mining on different subnets, having allocated approximately $50 million in compute to the TAO ecosystem.

Decentralized AI is the main focus at DNA House, according to Miglino. He believes this framework has the potential to be bigger than Bitcoin. DNA House is betting that ecosystems like Bittensor will drive transformation in a decentralized manner, enabling developers to launch businesses without needing external capital.

Ben Goertzel, an early pioneer of artificial general intelligence, recognized the need for decentralization in AI well before writing his first line of AI code.