OpenMind, a startup that develops humanoid robot operating systems, recently announced a new round of funding. Several major venture capital companies participated, including Pantera, Blackdragon and the Pi Core team.
The announcement sparked debate among PI investors and supporters.
Pioneer has questioned the effectiveness of the PI core team’s strategy
OpenMind is a Silicon Valley company focusing on humanoid robot software.
The announcement of the $20 million investment was a rare opportunity for the PI Core Team (PCT) to be publicly mentioned in the investment agreement. PCT appeared alongside other well-known VCs in the industry, such as Coinbase Ventures and Black Dragon Capital.
Some pioneers see this as a positive development. They believe that PCT’s involvement in advanced technology projects will help to enhance the profile of PIs in the broader technology community. This engagement can also lead to long-term partnerships, which they believe will increase the future potential of the token.
“It’s not surprising that strategic investments like these will enhance the reliability, ecosystem vision and technology expansion of PI. These investments do not immediately affect pioneer revenues or token prices, but they lay a positive foundation for the future.”
Earlier this year, Picoreteam launched the PI Network Ventures Fund. The fund holds $100 million and aims to grow the PI ecosystem. It focuses on three goals. Increased real-world use cases for PIs, attracting production workflows to networks, and integration of PIs into practical applications.
However, some pioneers feel this new investment is wandering from those goals. They question whether PCT’s investment in OpenMind fits that strategy or is simply a personal preference for leadership.
At the same time, PI tokens are struggling. That price has sloped towards a new low in August and has not shown a positive response to the news.
“I think this ‘broken’ news is amazing. The two above the PI project earned money from the PI project and invested in personal preferences rather than investing in PI integrations, developers and new projects. “-X’s Pinework Member Account states.
In a rare opening last May, Dr. Nicolas Kokkalis, founder of PI Network, spoke about the future of AI and blockchain. Additionally, PCT has launched Pi App Studio. This allows users to leverage AI to create apps such as games and chatbots, simply by entering a prompt.
These developments suggest that PCT is increasingly involved and applied to AI technology.
Still, PI owners are eager to see more practical and impactful actions that can rapidly increase the value of PI coins. The gap between the high expectations of pioneers and the slow, intentional steps of PCT continues to encourage debate.
The reason why Pi Core Team’s AI investment sparked a backlash from pioneers was that it first appeared in Beincrypto.
