NEAR Foundation has launched a $20 million AI Agent Fund to support AI-powered agent tokens and drive Web3 innovation.
NEAR aims to attract more developers by offering tools and funding to support AI-based blockchain applications.
The fund will complement NEAR’s existing AI-focused programs, including accelerator cohorts and hackathons.
NEAR plans to collaborate with other ecosystems like Sky and Frax to develop new AI-driven use cases
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NEAR Foundation (NF), the nonprofit organization steering the growth of the NEAR blockchain, is making a strategic move to challenge Ethereum and Solana with the launch of a $20 million AI Agent Fund.
Announced in an official on Thursday, February 6, the fund is designed to accelerate the development of AI-powered agent tokens within the NEAR ecosystem. NEAR Foundation plans to distribute the funds in phases over the coming months, focusing on agent tokens that drive new decentralized AI applications and mass-market consumer solutions.
Fueling AI Innovation in the NEAR Ecosystem
NEAR Foundation revealed that it is exploring collaborations with ecosystems such as Sky and Frax to advance AI-driven use cases that unlock new streams of value. According to the Foundation, its decision to introduce the fund is rooted in the belief that “onchain mindshare for agents is just the beginning of the convergence of crypto and AI.” NEAR’s ecosystem, it added, strongly supports the idea that AI agents will shape the future of commerce and business.
Beyond fostering innovation, NEAR hopes the $20 million fund will attract software developers to explore the possibilities its blockchain offers at the intersection of AI and Web3.
The protocol already features a robust AI agent development stack, complete with core primitives that provide developers with a comprehensive set of tools. These include off-chain and cross-chain commitments via NEAR Intents, multi-party computation (MPC) for secure key management, trust-minimized bridging with Chain Signatures, and trusted execution environments (TEEs) that enable secure agent operations.
The Foundation noted that the AI Agent Fund will complement other builder-focused initiatives in its ecosystem, such as the Horizon AI accelerator cohorts and AI hackathons, fostering the next wave of innovation in AI and Web3.
A Growing Trend in AI-Crypto Investments
The launch of the AI fund comes amid a growing wave of investment in AI-driven blockchain solutions. Just a day before, the 0G Foundation announced an $88 million fund dedicated to developing AI-powered applications.
The 0G fund attracted support from prominent blockchain venture capital firms, including Hack VC, Delphi Ventures, and OKX Ventures. The initiative is seeking proposals from teams building decentralized finance (DeFi) protocols, on-chain data marketplaces, AI-driven gaming solutions, and social applications.
In December 2024, Aethir partnered with the Blockchain Center Abu Dhabi (ADBC) to introduce a $100 million fund aimed at supporting AI and gaming projects in the crypto industry.
That same month, Web3 identity and rewards platform Galxe, a major Ethereum Virtual Machine (EVM) upgrade to its Gravity blockchain, accompanied by a $50 million ecosystem fund to support developers building native applications on Gravity. Galxe co-founder Charles Wayn also announced an additional $5 million in developer grants to further fuel innovation on the network.
With NEAR now joining the AI investment race, the battle for dominance in AI-powered blockchain applications is heating up. The competition between NEAR, Ethereum, and Solana could reshape the landscape of AI-driven Web3 development in the years ahead.