The Pi Core Team (PCT), through its Pi Network Ventures fund, participated in a $20 million funding round for OpenMind AGI, a startup developing decentralized operating systems for humanoid robots. Major investors including Pantera Capital, Coinbase Ventures, and Blackdragon Capital joined the round, marking a rare public investment by PCT. OpenMind aims to merge AI, robotics, and blockchain to enable machine coordination and decentralized transactions.
While some Pi community members (Pioneers) view this as a strategic move to elevate Pi's credibility and foster long-term tech partnerships, others criticized the investment for deviating from Pi Network Ventures' core goals. The $100 million fund, launched earlier this year, explicitly targets real-world Pi use cases, production workflows, and practical integrations—objectives critics argue aren't served by backing robotics infrastructure.
Amid the debate, the PI token dropped 16% from $0.42 to $0.35 between July 30 and August 5, despite the announcement. Trading volume surged 32% to $46.65 million, reflecting heightened market reactions. Community frustration centers on leadership priorities, with some alleging investments favor personal interests over ecosystem development. PCT's recent AI initiatives, like the Pi App Studio, further highlight its AI focus but fail to alleviate concerns over the token's performance.