OceanPal Pioneers $120M Venture for NEAR Token Treasury and Advanced AI Infrastructure

A significant development is reshaping the intersection of cryptocurrency and artificial intelligence. Nasdaq-listed OceanPal Inc. recently announced an ambitious $120 million private investment. This substantial funding fuels the launch of SovereignAI, a new subsidiary. SovereignAI aims to commercialize the NEAR Protocol and develop cutting-edge AI infrastructure. This strategic move provides public market investors with direct exposure to the rapidly evolving NEAR token ecosystem.

OceanPal’s Strategic Launch of SovereignAI and NEAR Token Treasury

OceanPal Inc. made headlines with its $120 million private investment in public equity (PIPE) deal. This capital infusion establishes SovereignAI, a new entity dedicated to merging blockchain technology with artificial intelligence. The primary goal of SovereignAI involves a unique crypto treasury strategy. The company plans to acquire up to 10% of the total NEAR (NEAR) token supply. This initiative, developed in close partnership with the NEAR Foundation, positions OceanPal as a public investment vehicle for the crypto protocol’s native token. Therefore, investors gain a new avenue to participate in the NEAR ecosystem’s growth.

The collaboration between OceanPal and the NEAR Foundation stems from a shared vision. They both advocate for “universal AI sovereignty.” Launched in 2020, NEAR is a prominent layer-1 blockchain. It actively supports various AI applications. This robust platform enables AI agents to interact, manage assets, and operate securely across different networks. Such capabilities are crucial for the future of decentralized AI.

Building Advanced AI Infrastructure on NEAR Protocol

SovereignAI’s core mission extends beyond token acquisition. It focuses on developing advanced AI infrastructure utilizing NEAR’s blockchain and NVIDIA technology. This infrastructure will prioritize privacy-preserving AI. It ensures secure and efficient operations for AI agents. The synergy between NEAR Protocol’s decentralized nature and NVIDIA’s computational power creates a formidable foundation. This foundation supports the next generation of artificial intelligence applications. Furthermore, this approach ensures that AI development aligns with principles of data privacy and user control.

Leadership changes at OceanPal coincide with this pivotal announcement. The company appointed Sal Ternullo, a former State Street executive, as co-CEO. David Schwed, with previous roles at BNY Mellon, Galaxy, and Robinhood, joined as chief operating officer. These appointments bring extensive financial and operational expertise to the new venture. Moreover, the SovereignAI advisory board boasts an impressive lineup. NEAR Foundation co-founder and CEO Illia Polosukhin will join. Richard Muirhead of Fabric Ventures and Lukasz Kaiser of OpenAI also lend their expertise. This strong leadership team underscores the serious intent behind SovereignAI’s ambitious goals.

The Accelerating Rise of AI Agents in Crypto

The integration of AI agents with cryptocurrency is rapidly gaining momentum. These autonomous systems can perceive, decide, and act without direct human intervention. They increasingly leverage blockchain networks. AI agents use these networks to manage assets, verify actions, and function as self-governing economic participants. This trend highlights the growing necessity for robust, decentralized infrastructure. It directly impacts the potential of the NEAR Protocol to host these intelligent systems.

Experts recognize the crucial role of crypto in this evolution. John D’Agostino, head of institutional strategy at Coinbase, stated in September that cryptocurrency is essential. It enables AI agents to operate effectively within financial markets. The same month, Cloudflare, a global cloud infrastructure company, announced plans for a new stablecoin, NET Dollar. This stablecoin aims to support instant transactions initiated by AI agents. These developments underscore a broad industry shift.

Recent data from Dune Analytics further illustrates this trend. Coinbase’s AI-ready payments protocol, launched in May, facilitates autonomous agents sending and receiving stablecoins online. This protocol witnessed a transaction activity surge of over 10,000% in a single month. Two Coinbase developers previously predicted in August that AI agents are “about to become Ethereum’s biggest power users.” This shows a clear path for AI-driven transactions. It emphasizes the need for scalable and secure blockchain solutions, a niche where NEAR token and its underlying protocol can excel.

OceanPal’s Vision for Universal AI Sovereignty and NEAR Protocol Exposure

OceanPal’s partnership with the NEAR Foundation is deeply rooted in a shared commitment to “universal AI sovereignty.” This vision promotes a future where AI systems are decentralized, transparent, and user-controlled. The NEAR Protocol, with its focus on scalability and developer-friendliness, provides an ideal environment for this vision. By acquiring a significant portion of the NEAR token supply, SovereignAI directly invests in the future of this ecosystem. This move provides a compelling opportunity for investors seeking exposure to both advanced AI and a leading Layer-1 blockchain.

The creation of SovereignAI and its treasury strategy represents a pioneering approach. It bridges traditional public markets with the burgeoning crypto economy. Investors can now gain exposure to the growth of the NEAR Protocol through a regulated, Nasdaq-listed entity. This could attract a new wave of institutional capital into the NEAR ecosystem. Ultimately, this strategic alliance aims to accelerate the development and adoption of privacy-preserving AI infrastructure on a global scale. It also solidifies OceanPal’s position at the forefront of this innovative convergence.