Multicoin Capital Bullish on 2024; Sees Cryptocurrency's "Huge AI Opportunities"
Multicoin Capital's Managing Partners, Kyle Samani and Tushar Jain, remain bullish on the investment landscape for 2024, especially considering recent developments in the blockchain ecosystem, with an optimistic outlook on the Solana ecosystem. Samani also believes that cryptocurrencies present a “massive opportunity” within the realm of artificial intelligence.
He stated, “Specifically, there is currently a severe shortage of GPUs, and competition for these resources will grow exponentially. This presents an opportunity for computational markets supporting cryptocurrencies and professional cloud providers to step in and fill this void.”
“Token-incentivized reinforcement learning products are another huge opportunity,” Samani added. “Models need to be trained by humans to transfer knowledge. Cryptographic networks are excellent tools for organizing and incentivizing people worldwide to contribute to a shared model.”
Jain anticipates the emergence of “a slew of entirely new neobanks, DeFi primitives, payment applications, on-ramps/off-ramps, and DEXes in 2024,” filling the void left by centralized lending platforms that vanished in 2023. He also noted, “These products will far surpass earlier generations of DeFi projects and match the user experience of custodial providers.”
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