Multicoin Capital partner Shayon Sengupta said on Sept. 29 that the firm has invested in decentralized bandwidth network Grass through both its hedge fund and venture fund, describing the project as a reading layer for machine intelligence. In the post, Sengupta said Grass has spent roughly the past 18 months using crypto incentives to recruit contributors who share idle bandwidth, which is then used to query and parse the public internet and feed data into pipelines used by frontier labs.
Citing figures from Grass, the post said more than 6 million contributors have received rewards denominated in U.S. dollars, with those payouts funded by revenue directly generated from their contributions. Grass reported $17 million in revenue for 2025 and another $17 million in the first half of 2026, while saying nearly all of its AI customers have made repeat purchases. The company also said the business is profitable and guided for $75 million in training-data revenue alone in 2026. Those figures were said to come from a July 7 call with token holders and network participants.
Sengupta added that Grass plans to launch a Contents API that would let models open and render public pages through residential networks, along with a Search API and a web index. The post also said Grass has collected more than 1 billion public internet videos, with part of that dataset used alongside Multicoin portfolio company Inference.net to train a video-labeling model.
ChainCatcher reported that Multicoin Capital partner Shayon Sengupta said on Sept. 29 that Multicoin has invested in decentralized bandwidth network Grass through its hedge fund and venture fund, and described Grass as a reading layer for machine intelligence.
How Grass says the network works
According to the post, Grass has spent roughly the past 18 months recruiting contributors with crypto incentives to share idle bandwidth. That bandwidth is used to query and parse the public internet, with the resulting data fed into data pipelines used by frontier labs.
The post cited Grass' own report as saying that more than 6 million contributors have received rewards denominated in U.S. dollars, funded by revenue generated directly from their contributions.
Revenue figures cited in the post
Grass said it generated $17 million in revenue in 2025, then recorded another $17 million in the first half of 2026. It also said nearly all AI customers have made repeat purchases.
Grass said the business is profitable and gave guidance for $75 million in training-data revenue alone in 2026. The figures were said to come from a July 7 call with token holders and network participants.
Product roadmap mentioned by Sengupta
Sengupta wrote that Grass plans to launch a Contents API that would allow models to open and render public pages through residential networks. The company also plans to roll out a Search API and a web index.
The post added that Grass has collected more than 1 billion public internet videos. Part of that dataset has been used with Multicoin portfolio company Inference.net to train a video-labeling model.
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