Multicoin Capital Invests in Grass to Target AI Inference Search Market

Multicoin Capital has announced an investment in Grass, a DePIN project serving as a reading layer for machine intelligence. While Grass has already achieved profitability through selling pre-training data, Multicoin believes the project is uniquely positioned to capture the real-time retrieval market for AI agents. Grass utilizes a network of over 6 million contributors who share unused bandwidth to facilitate web scraping. The company reported $17 million in revenue for 2025 and projects $75 million in revenue from training data alone in 2026, with plans to expand into the significantly larger market of inference-time data retrieval.