Norwegian crypto company NBX follows Swedish Safello and acquires 1,000 TAO, which is the cryptocurrency linked to the decentralized ecosystem Bittensor. According to NBX, the TAO will enhance NBX's business within the BitTensor ecosystem and provide income.
The holdings have been received from associated owners and directors Vegard Kristiansen and Ingvild Kjerkol (Per Øyan AS).
Pictured: CEO of NBX, Stig Alexander Kjos-Mathisen.
It was in May that Swedish crypto company Safello, as the first in the Nordic region, Exchange Bitcoin with TAO in a bet on decentralized AI. This marked Safello's first major investment in decentralized AI and what the company referred to as a bet on the crypto market of the future. Since that, Safello has further increased its investments related to TAO and Bittensor.
NBX sees its TAO investment in the context of its Bitcoin Treasury-Strategi, where NBX's proof-of-concept according to NBX is now generating revenue that will increase in the second half of the year. When NBX now establishes a TAO Treasury strategy, it is to facilitate trading of subnet tokens.
According to NBX, hedge funds have contacted NBX to purchase and hold TAO on the company's OTC/depository platform, in addition to native Alpha tokens that are associated with the subnets within the BitTensor ecosystem. NBX is in the process of facilitating the initial purchase of Alpha tokens for these funds. NBX is already the custodian and lead broker for several hedge funds operating in the digital assets market.
As decentralized AI evolves to become a more social and attractive alternative to centralized AI, NBX believes institutions will follow suit with allocation to TAO and ALPHA tokens.
