Key Takeaways

• Advances in data availability, computing power, and neural network design have driven exponential growth in AI capabilities, enabling machines to perform tasks once thought exclusive to humans.
• The proliferation of AI has raised concerns about transparency, censorship, and the concentration of ownership in a select few large technology companies, underscoring the importance of permissionless global alternatives.
• Bittensor is a decentralized AI protocol utilizing crypto incentives to coordinate AI contributions across a distributed network of subnets, each specializing in the production of different AI commodities.
• Bittensor’s native token, TAO, adheres to a fixed supply schedule similar to Bitcoin, with 21 million tokens and a predetermined halving schedule. TAO is the network's currency, used for incentives and ecosystem participation (deploying subnets, validator/miner requirements, alpha token access, governance, & tx fees).
• TAO presents a unique way to invest in the future of decentralized AI – providing diversified exposure to nascent subnet projects and strategically aligning investors with the creation of a permissionless credibly neutral AI network.
• The Grayscale Bittensor Trust is one of the first investment vehicles that enables investors to gain exposure to TAO in the form of a security while avoiding the challenges of buying, storing, and safekeeping TAO directly.