Multicoin announced an investment in the bandwidth sharing network Grass

On September 29, Shayon Sengupta, a partner at the cryptocurrency investment firm Multicoin Capital, stated that Multicoin has invested in the decentralized bandwidth network Grass through its hedge fund and venture capital fund, referring to it as the reading layer of machine intelligence. Over the past 18 months, Grass has recruited contributors to share idle bandwidth through crypto incentives for querying and parsing the public internet, connecting data to the data pipeline of frontier labs.

The article cites a report from Grass itself, stating that over 6 million contributors have received rewards denominated in USD, funded by the revenue generated directly from their contributions. Grass reported revenues of $17 million in 2025, with another $17 million recorded in the first half of 2026, with nearly all AI clients making repeat purchases. Grass claims the business is profitable and projects that revenue from training data alone will reach $75 million in 2026, with relevant figures coming from its call on July 7 to token holders and network participants.

Sengupta wrote that Grass plans to launch a Contents API, allowing models to open and render public pages through residential networks, and plans to introduce a Search API along with web indexing. Grass has collected over 1 billion public internet videos, some of which are used with Multicoin portfolio company Inference.net for training video annotation models.