Multicoin Capital has invested in Grass through its hedge fund and venture capital arm, general partner Shayon Sengupta said, without disclosing the investment size. The Grass token briefly rose above $0.80 and gained more than 25% in 24 hours after the investment. Grass is a decentralized physical infrastructure, or DePIN, project that uses crypto incentives to aggregate idle internet bandwidth from more than 6 million contributors. It collects public-web data through residential IP addresses, records data provenance including source, timestamp and region on a Layer 2, and uses zero-knowledge proofs to verify dataset integrity before selling cleaned data to AI companies. Contributors earn Grass points for supplying bandwidth, which can be exchanged for tokens; an earlier account described contributor rewards as dollar-denominated. Grass has supplied pre-training data to multiple AI laboratories over the past 18 months. The new account says Grass generated $17 million in revenue during the first half of both 2025 and 2026, while an earlier account described $17 million as total 2025 revenue. Grass projects full-year training-data revenue of $75 million and says it is profitable. Multicoin has said Grass could expand into real-time web retrieval for AI models and agents, a market it described as potentially several times larger because it generates recurring requests.