DWF Labs is launching a $20 million fund to support the development of AI agents. This investment mirrors a similar DWF fund for meme coins, another growing industry.
This news comes from a press release shared with BeInCrypto.
AI Agent Fund From DWF Labs
According to the press release, this new fund will support independent developers in their efforts to make AI agents. AI agents are a growing sector of the Web3 industry, and DWF Labs is encouraging them based “on their potential to drive innovation and create meaningful impact across industries such as finance, logistics, entertainment, and governance.”
Andreessen Horowitz (a16z) predicted that AI agents are one of the most promising areas of future Web3 technological development last week. Although the sector is relatively small, it’s growing remarkably; several AI agent tokens have surged. Virtuals Protocol, a decentralized AI agent launch protocol, has grown dramatically last month.
Virtuals Protocol (VIRTUAL) Price Performance. Source: BeInCrypto
This is not DWF Labs’ only attempt at funding development in high-growth sectors. In late November, the firm launched a similar $20 million fund for meme coin creators. Throughout the month, meme coins proved one of crypto’s best-performing sectors. Andrei Grachev, Managing Partner at DWF Labs, sees similar potential in AI agents.
“Autonomous AI agents will transform how businesses and individuals interact with technology, from automating complex decision-making processes to unlocking entirely new economic opportunities. Through this fund, we aim to empower builders and accelerate the innovation of AI and decentralised technologies,” said Grachev.
The principal gain that grant recipients will earn is up to $100,000 in cloud server credits to help satisfy AI computing requirements. The press release also mentions “strategic advisory services and collaboration opportunities with leading blockchain ecosystems,” but does not go into specifics.
