- Pi Network launched a $100M fund to push real-world PI use — but price plunged.
- Restrictions continue to cast doubt on the project’s long-term credibility.
Pi Network [PI] has launched a $100 million venture fund, backed by 10% of its own Pi Coin supply, in a bid to shake off its reputation as a walled garden.
The fund targets AI, fintech, and Web3 startups — a big step, at least on paper. But within 24 hours, Pi Coin tumbled over 30%, so is the market seeing through the ambition?
Pi Network: A 100M push for real world use
After months of limited visibility and slow movement, the Pi Foundation has announced Pi Network Ventures, a $100 million fund aimed at driving real-world adoption of the PI token.
Backed by 10% of the total PI supply, the fund will target early to Series B startups in sectors like AI, fintech, ecommerce, and consumer apps.
Source: X
Crucially, most investments will be made in PI rather than fiat, showing a commitment to ecosystem growth — but also raising questions about liquidity, risk, and whether projects will actually opt in for tokens over traditional capital.
Price falls, OI cools
Despite the Pi Foundation’s $100 million fund announcement on the 14th of May, market sentiment turned quickly. PI dropped over 30% in the immediate aftermath, from highs above $1 to around $0.88.
Source: CoinMarketCap
Open interest in PI Futures has declined notably over the past week.
After peaking around $11.2 million on the 1st of March, Open Interest steadily dropped to approximately $4 million by the 19th of March — a significant reduction in trader participation.
Source: Coinglass
Although the PI token price initially hovered above $2.00 in early March, it has since fallen below $1.40. While the token saw a brief spike around the 13th of March, both price and OI have declined in tandem since then.
Perhaps the earlier rally may have been fueled more by short-term speculation than sustained confidence in the project’s long-term trajectory.
Questions linger
Pi Network built its massive user base — reportedly over 50 million — through a mobile mining app that promised future utility.
The project’s closed network model has drawn criticism for its lack of transparency and real-world integration.
While the new $100 million fund suggests a pivot toward open adoption, skeptics argue it may be more PR than progress.
Given that Pi’s mainnet has just become open, questions around intent and execution are likely to persist for a while.