VC Firm Going Beyond Crypto Into A.I.

Updated: 29 May 2023

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Crypto venture capital firm Paradigm is expanding its focus beyond blockchain to include a broader range of hot new technologies such as artificial intelligence (AI), according to sources familiar with the matter. The company, known for its active role in the crypto space, has subtly updated its website to describe itself as a “research-driven technology investment firm” rather than solely investing in disruptive crypto and web3 companies.

The recent website revision, which went live around May 3, removes references to web3 and blockchains and no longer includes the line stating that crypto will define the next few decades. However, this change does not indicate a departure from crypto but rather highlights Paradigm’s involvement in adjacent areas.

While Paradigm’s portfolio still features numerous firms associated with crypto, decentralized finance, and NFTs, the company’s mandate remains unchanged, with a continued focus on crypto and web3. The updated website copy aims to emphasize Paradigm’s commitment to technical research, with previous investments in companies exploring technologies like AI Arena.

The crypto industry continues to face challenges following the crisis triggered by the collapse of the FTX exchange last year. Paradigm, which invested in FTX, wrote off its $290 million investment after the exchange filed for bankruptcy in November.

The Potential of AI in the World of Crypto

Paradigm was co-founded in 2018 by Fred Ehrsam, co-founder of Coinbase, and Matt Huang, a former partner at Sequoia. In November 2021, the firm raised a record-breaking $2.5 billion crypto-focused venture fund. Notable companies in Paradigm’s portfolio include Uniswap, OpenSea, and Fireblocks, among others.

Although crypto VC investments experienced a slowdown after a challenging year, with around $2.8 billion invested in the first quarter of 2023 compared to approximately $3.5 billion in the fourth quarter of 2022, there remains interest in the integration of AI and blockchain technology.

Jeremy Allaire, CEO of stablecoin issuer Circle, noted the compatibility of AI and blockchains, highlighting the potential for data provenance, machine-generated contracts, and machine-to-machine value exchange. Hunter Horsley, CEO of crypto investment firm Bitwise, echoed this sentiment, suggesting that AI could serve as a catalyst for crypto and create a new demand for cryptography and blockchains. The intertwining futures of these technologies may see crypto becoming increasingly important as AI proliferates.

Allaire wrote on Twitter that:

AI and Blockchains are made for each other. Provenance of data, machine generated and enforced contracts, and machine to machine value exchange.

AI and Crypto: yPredict

We have previously discussed that the advent of Artificial Intelligence is likely to have a significant impact on the world of crypto. But there is one particular project that has a lot of potential and is currently in presale.

yPredict seeks to transform the way bitcoin investors do their research and analysis by providing a wide range of practical tools and features. It is an ecosystem powered by AI for traders, quants, analysts, and developers, has successfully secured $1.7 million during its presale period.

Market participants will have an unrivaled advantage thanks to yPredict.

A few of the most well-known cryptocurrencies provide answers to issues in the real world. Meme currencies have a propensity to appreciate rapidly, but they are less durable than cryptos that address issues. In light of this, yPredict’s approach to enhancing the trading signals industry has the potential for long-term growth.

yPredict aims to pioneer AI-driven crypto analytics by creating a complete all-in-one ecosystem that benefits traders, developers, quants, and analysts. People may obtain cutting-edge prediction models with yPredict, giving them a competitive advantage.

Because it is based on the Polygon network, the yPredict platform is totally decentralized and a component of the Ethereum ecosystem. The ecosystem of yPredict will include automatic chart pattern recognition, strong technical indicators, AI-powered price forecasts, trader sentiment monitoring, and more.

YPRED Token Presale

The revolutionary AI-powered trading platform from yPredict is built on the YPRED cryptocurrency token, which is built on the Polygon blockchain and has low gas costs and rapid transactions. To utilize the premium features of yPredict, new users must pay a monthly membership fee that is priced in YPRED.

The present owners of YPRED tokens will get 10% of these fees. This will encourage YPRED investors to remain onto their investments since they would get a passive income stream, reducing market pressure to sell. With yPredict now available as a presale token, consumers have an exceptional chance to take part in a project for a lower price. See here for our buying guide to the top AI crypto currencies.

Participate in the YPRED presale at yPredict.ai.

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