Grayscale Unveils Fund for SXT, Native Token of Microsoft-Backed Space and Time Blockchain

Crypto asset manager Grayscale has unveiled an investment trust providing exposure to SXT, the native token of the Space and Time blockchain.

The Grayscale Space and Time Trust is now available to eligible individual and institutional investors, the asset manager announced via email on Tuesday.

Space and Time, which is backed by Microsoft's venture capital arm M1, is a data warehouse to support decentralized applications that use artificial intelligence (AI) and smart contracts.

The Space and Time Foundations says the network is built to solve the "one critical need," around which AI and blockchain are converging: verifiable data.

"Verifiable data can help ensure that we can trust the underlying datasets used for AI and smart contract applications,” Rayhaneh Sharif-Askary, head of product at Grayscale, said.

The aim of blockchain-based AI is to prevent the data being controlled by a small number of tech behemoths, who would thereby be able to dominate the industry.

Investing in SXT through its new single-asset trust, Grayscale will provide professional traders with a means to gain exposure to this sector of blockchain finance.

Read More: A Startup Is Looking to Pay 30% Yield by Tokenizing AI Infrastructure