Pi Network Ventures Launches $100M Fund to Accelerate Mass Adoption of the Pi Ecosystem

At 10 p.m. on May 16, Kokkalis joined a panel titled “AI + Blockchain Infrastructure to Accelerate Mass Adoption” at Consensus 2025.

At 10 p.m. on May 16, Kokkalis joined a panel titled “AI + Blockchain Infrastructure to Accelerate Mass Adoption” at Consensus 2025. His participation marked his first public appearance since the project began.

Two days earlier, on May 14, he appeared in a video interview on a crypto platform to announce the launch of Pi Network Ventures - a $100 million investment fund (comprising both Pi tokens and fiat) dedicated to supporting projects built on the Pi ecosystem or contributing to its development.

The fund is drawn from 10% of Pi’s total token supply, which had been reserved for ecosystem development initiatives. The goal is to increase the real-world utility of Pi tokens by backing products, services, and real-use transactions.

Unlike many traditional crypto-focused funds centered on Web3, Pi Network Ventures also targets broader tech sectors, including AI, fintech, e-commerce, social media, and consumer applications.

During his presentation, Kokkalis introduced Pi Network as a social platform with tens of millions of users over the past six years. He emphasized Pi’s unique KYC system, stating that every blockchain account must pass this verification process before activation.

He also spoke about the transformative rise of generative AI, saying that the world is now shifting toward building high-value applications and products after witnessing a breakthrough in AI models.

Yet, despite these updates, the Pi token price dropped further. After the May 14 announcement of Pi Ventures, Pi fell from $1.20 to $0.80. Following Kokkalis’s speech on May 16, the price declined again, now trading around $0.70. Its market capitalization plummeted from $9 billion on May 12 to $4.8 billion, with just over $600 million in 24-hour trading volume.

According to Nguyen Hoang Anh, a cryptocurrency investor in Ho Chi Minh City, the drop was predictable. “The Pi community expected real, groundbreaking updates and reassurance from the team, but the information provided was vague. The core team hasn’t addressed investors’ long-standing concerns,” he said.

He pointed out that the new Pi Ventures fund plans to invest beyond crypto into broader tech areas, using 10% of token supply. “Investors worry this is just an excuse to dump Pi tokens. Kokkalis focused only on tech concepts and failed to discuss future development or project direction,” he added.

Hai Thanh, a longtime miner and investor in Pi, expressed deep disappointment. “The Pi community placed high hopes on the announcements from May 14 and 16. But once again, there were no clear updates. It feels like the Pi Core Team is ignoring miners and investors. The price is volatile, yet they remain silent. I feel scammed and will no longer invest in Pi Network,” he stated.

In Vietnam, cryptocurrency transactions remain unregulated. The State Bank of Vietnam has repeatedly warned of the risks associated with owning, trading, and using cryptocurrencies like Bitcoin and Pi, emphasizing that these transactions are not legally protected.