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Meta, the parent company of Facebook, Instagram, and WhatsApp has confirmed it will not launch its multimodal AI model Llama 3 in the European Union due to concerns over the “unpredictable” regulatory environment. 
Meta made this declaration amid ongoing unease at the obstacles in its way, due to the bloc’s introduction of legislation such as the Digital Markets Act (DMA) and the upcoming EU AI Act/ Many other firms share the consternation and reluctance to launch products in the EU due to what is viewed as unfavorable conditions.
“We will release a multimodal Llama model over the coming months – but not in the EU due to the unpredictable nature of the European regulatory environment,” said a Meta spokesperson, underlining the friction between big tech and Brussels.
Multimodal AI models like Llama 3 are designed to work with several formats, including images, text, audio, and video. However, there will be no introduction for the open-source model in Europe, at least not for the foreseeable future.
It is believed the decision to pull Llama 3 from the EU relates specifically to concerns over compliance with GDPR rules. Meta has been compelled to pause training its AI with posts from Facebook and Instagram users due to a potential violation of privacy rules.
In recent days, the EU issued compliance deadlines for AI companies to adhere to the incoming AI Act, giving operators until August 2026 to react and make changes in areas such as copyright, transparency, and AI output.
Apple’s pushback against the Digital Markets Act
Meta’s decision to abandon the EU rollout for Llama 3 follows a similar act by Apple, which has indicated it will likely skip Europe for the introduction of Apple Intelligence. This decision was directly impacted by the DMA, which is designed to prevent anti-competitive behaviors.
The iPhone maker believes compliance with the DMA rules would create vulnerability and potentially compromise the security of their devices.
Last month a company statement said, “Specifically, we are concerned that the interoperability requirements of the DMA could force us to compromise the integrity of our products in ways that risk user privacy and data security.”
Image credit: Via Unsplash
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Grayscale Investments has introduced its latest offering: the Decentralized AI Fund, targeting artificial intelligence protocols within the cryptocurrency space.
According to a July 17 press release, the new fund aims to provide accredited investors with exposure to the growing intersection of AI and blockchain technology. The announcement describes the investment product as follows:
The Fund seeks to provide investors with exposure to protocols in the burgeoning artificial intelligence sector within the crypto ecosystem.
The Decentralized AI Fund will concentrate on a select group of protocols, including Bittensor (TAO), Filecoin (FIL), Livepeer (LPT), Near (NEAR), and Render (RNDR). With quarterly rebalancing, the fund seeks to capitalize on the decentralized, accessible, and transparent nature of blockchain technology in the AI sector.
The fund targets three primary categories: protocols developing decentralized AI services, solutions addressing AI-related challenges, and essential AI infrastructure. These areas encompass a range of applications from chatbots and image generation to authenticity verification against bots and deepfakes, as well as decentralized platforms for data storage, GPU computation, and 3D rendering.
The assets
As of July 16, 2024, the fund’s asset allocation stood with Near (NEAR) at 32.99%, Filecoin (FIL) at 30.59%, Render (RNDR) at 24.86%, Livepeer (LPT) at 8.64%, and Bittensor (TAO) at 2.92%. Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research said:
The rise of disruptive technologies has created compelling opportunities for Grayscale’s investors since our 2013 inception, and we believe the launch of the Grayscale Decentralized AI Fund provides an opportunity to invest in Decentralized AI at its earliest phase. […] The blockchain-based AI protocols embody the principles of decentralization, accessibility, and transparency, and the Grayscale team feels strongly that these protocols can help mitigate the fundamental risks emerging alongside the proliferation of AI technology.
This launch follows Grayscale’s introduction of the Dynamic Income Fund (GDIF) in May. GDIF caters to high-net-worth investors, focusing on proof-of-stake tokens and aiming to optimize returns through dynamic strategies and staking rewards.
The post Grayscale unveils new fund focused on AI cryptos appeared first on ReadWrite.

As the meme coin market surges past the $50 billion valuation mark once again, a new contender has entered the arena with ambitious goals: The Meme Games.
Launched amid fervent anticipation on September 10th, 2024, this token aims to capitalize on both the explosive popularity of meme coins and the upcoming 2024 Paris Olympics.
What is The Meme Games project?
The Meme Games introduce the crypto meme coin Olympics, blending meme coin fervor with the essence of the 2024 Olympics. Participants select their favorite meme character and cheer them on as they strive for victory, potentially multiplying their holdings.

The $MGMES token acts as the key to this exhilarating experience, promising significant rewards amidst the best memes in crypto.
It aims to establish itself as a cornerstone of meme coin culture and competition, offering entertainment and substantial rewards to all involved.
By harnessing the global excitement surrounding the 2024 Olympic Games, The Meme Games aim to foster unity and enthusiasm within the crypto community.
The vision is to create a gamified and distinctive token presale, where participants can immerse themselves in the thrill of competition, the camaraderie of community, and the anticipation of lucrative meme coin gains.
 A gamified presale with Olympic-themed meme coin competition

The Meme Games introduce a revolutionary approach to cryptocurrency presales, transforming it into an Olympic-themed competition among meme coins.
Participants worldwide can choose their champion from five legendary meme characters: Dogecoin, Pepe, dogwifhat, Brett, and Turbo. Each character brings a unique flair to the competition.

Source – The Meme Games Twitter
To participate, users need to purchase $MGMES tokens during the presale. The more tokens acquired, the greater the stake in the competition. After securing tokens, participants select their champion.
Each character has an equal chance of winning, adding an exciting layer of unpredictability. If a chosen meme athlete emerges victorious, participants earn a substantial 25% bonus on their $MGMES tokens, significantly boosting their investment.
To maximize winning potential, tokens can be purchased multiple times, with different characters selected for more chances to win and multiply token rewards.
The Meme Games offer a user-friendly presale process designed for a seamless experience. Visit the official The Meme Games website and use their intuitive presale widget to purchase $MGMES tokens effortlessly and join the excitement.
This gamified approach ensures a fair and engaging experience for all participants, making The Meme Games a truly unique and rewarding event.

Maximizing your earnings through $MGMES staking
Staking is an integral part of The Meme Games experience, offering $MGMES token holders the opportunity to maximize their earnings through a secure Ethereum smart contract.
By staking $MGMES tokens, participants can earn dynamic annual percentage yields (APY) throughout the presale period, generating passive rewards while engaging in the competitive atmosphere of The Meme Games.
The staking process is simple and secure, ensuring tokens are always protected. Early stakers benefit from higher APY rates, rewarding those who commit tokens sooner and adding a strategic layer to the experience.
Token bonuses won by selected meme athletes can also be staked during the presale, further enhancing stake rewards and leveraging winnings for greater returns.
Staking $MGMES tokens provides a reliable source of passive earnings, enhancing overall returns and contributing to the vibrant community growth of The Meme Games ecosystem.
Transparency and a clear roadmap
The Meme Games ensure stability with a capped supply of 2 billion tokens, shielding them from inflation commonly seen in other meme coins.
A strategic presale allocates 38% of tokens, fostering early adoption and sustainable value growth. A comprehensive whitepaper establishes the project’s framework, detailing its functionalities.
Development efforts are centered around the $MGMES token and its bonus distribution smart contract. Concurrently, the project launches its website and social media channels, providing a preview of The Meme Games universe.
Excitement mounts with the announcement of the presale date, encouraging early participation as $MGMES token holders. The presale begins with a launch ceremony, marking its official commencement.
Community engagement thrives through AMAs, social media campaigns, and collaborative initiatives. This phase presents an opportunity to secure $MGMES tokens, followed by equitable distribution among participants.
As The Meme Games progress, participants claim their allocated $MGMES tokens. Listings on decentralized exchanges (DEXs) facilitate trading, bolstered by CoinMarketCap and CoinGecko listings that enhance market accessibility and transparency.
Rapid funding and ambitious goals
In a remarkable outpouring of community backing, The Meme Games achieved impressive fundraising momentum, surpassing $150,000 in less than a day.
Shortly after presale launch, they secured a significant amount of capital, demonstrating the project’s potential and community enthusiasm.
This early success positions it as a strong contender for the official meme coin of the 2024 Paris Olympics, capitalizing on the global excitement surrounding the games.
The Meme Games prioritize building trust from the outset. Completed audits and a detailed white paper demonstrate their commitment to security and transparency.
Active promotion across various crypto platforms and media outlets further highlights their focus on marketability and broad appeal.

Looking ahead, The Meme Games plans to further leverage the Olympic spirit with upcoming events like the Para Meme Games, scheduled from August 28 to September 8, 2024.
This strategic alignment with real-world events strengthens its appeal and visibility within the global crypto community. To participate in the $MGMES token presale, visit memegamestoken.com.
Conclusion
The Meme Games stands at the intersection of digital innovation and cultural celebration, offering a fresh perspective on how cryptocurrencies can blend with real-world excitement.
With its engaging gameplay mechanics, ambitious goals, and strategic vision, it invites crypto enthusiasts to join in a journey where memes meet medals, promising not just rewards but a memorable experience that celebrates both crypto innovation and global unity.
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The post New Crypto Launch ‘The Meme Games’ Merges Pepe Coin, Brett And Other Viral Memes appeared first on ReadWrite.