The hedge fund and venture arm of Multicoin Capital announced an investment in Grass. The amount was not disclosed.
Grass is a network in which users share their underutilized home internet bandwidth and receive rewards for doing so. Through millions of such connections, the project collects data from the open internet and sells it to AI labs for training models. Websites often restrict automated traffic and display different content in different countries, but requests made through ordinary home connections rarely encounter these restrictions.
Grass generated $17 million in revenue in 2025 and another $17 million in the first half of 2026; nearly all AI clients return with repeat orders. The company describes itself as profitable and forecasts $75 million in revenue in 2026 solely from selling data for training purposes. More than 6 million participants have already received payouts—entirely from the project’s actual revenue.
Multicoin is placing its main bet on the next stage. Grass is developing an API for real-time web page crawling and reading, which AI agents need every time they seek fresh information. According to the fund’s estimate, this market is several orders of magnitude larger than the market for training data and could generate billions of dollars annually.