NEAR Protocol-AI: The Revenue-Driven Future Bitwise and SVRN Are Betting On

NEAR Protocol is emerging as a key player in AI-driven commerce, with Bitwise launching an ETF and SVRN accumulating tokens, both eyeing future AI-generated revenue.

NEAR Protocol: The AI-Driven Commerce Frontier

The convergence of blockchain and artificial intelligence is creating a buzz, and the NEAR Protocol (NEAR) is right at the heart of it. Two major players, Bitwise and SVRN, are making significant moves, betting on NEAR's potential to become a powerhouse for AI-driven commerce and generate substantial revenue.

Bitwise Bets on Infrastructure with the NEAR ETF

Bitwise, a heavyweight in crypto investing, has thrown its hat into the ring with the launch of the Bitwise NEAR ETF (NRR) on NYSE Arca, making it the first U.S. spot exchange-traded product to offer direct exposure to NEAR. This isn't just about holding NEAR; it's about investing in the foundational blockchain infrastructure poised for an AI revolution. Matt Hougan, Bitwise's chief investment officer, sees NEAR as a strategic play for those looking to capitalize on AI-driven commerce. The NRR ETF also comes with a neat twist: it's designed to track NEAR's price while participating in staking, with rewards boosting the fund's net asset value. At launch, the annualized staking reward rate hovered around 5%, an attractive perk for investors, though Bitwise wisely reminds everyone that past performance doesn't guarantee future returns.

SVRN's Ambitious Accumulation and Infrastructure Play

Not to be outdone, SVRN is taking a more direct and aggressive approach. Led by CEO Sal Ternullo, SVRN has set an audacious long-term goal: to accumulate a whopping 10% of NEAR's total token supply. They're not just collecting tokens; they're building out the ecosystem. SVRN operates six white-labeled validators and, significantly, acquired FastNEAR, a key provider of RPC infrastructure for the NEAR Protocol. Ternullo highlighted FastNEAR as a