Grayscale's Zach Pandl says PEARL gained 580% as AI crypto projects draw focus

Key points

• PEARL rose 580% in the three months to 22 Oct, according to CoinGecko data cited by Grayscale
• DATA Network said on 12 Oct it would move its protocol to the Sui blockchain, using Walrus for storage
• Bullish announced a $100m credit facility in August for USD.AI's GPU-backed loans

Grayscale's head of research, Zach Pandl, has highlighted three blockchain projects that aim to earn revenue from artificial intelligence infrastructure, Bitcoin.com News reports. The analysis, published on 23 Oct, examined PEARL, DATA Network and USD.AI, and cited CoinGecko data showing PEARL gained 580% over the three months through 22 Oct. Pandl said the projects' long-term relevance would hinge on adoption and competitive economics.

PEARL is a proof-of-work blockchain designed so that graphics processing units can carry out AI tasks while also securing the network. Operators could earn blockchain rewards alongside payments for AI services. DATA Network is building tools to collect, license and track human-contributed photographs, videos and voice recordings, so that datasets can be licensed to AI laboratories while the people who supplied the material are paid. It announced on 12 Oct that it would move its protocol to the Sui blockchain, with Walrus as its default storage layer.

USD.AI is a blockchain lending platform that funds computing hardware through loans secured by GPUs and their cash flows. Its terms cover up to 80% of deployment costs, subject to credit review, with borrowers putting in at least 20% and repaying principal over three to five years. Crypto exchange Bullish announced a $100m credit facility for USD.AI in August.

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