OceanPal Inc., a Nasdaq-listed shipping company, has announced a major pivot into the digital economy with a $120 million private equity investment (PIPE) conducted in collaboration with NEAR Protocol.
The initiative will establish a new subsidiary, SovereignAI Services LLC, focused on developing blockchain-based digital assets and artificial intelligence infrastructure.
This move marks OceanPal’s expansion beyond maritime logistics and into the rapidly converging worlds of blockchain and AI technology. The funding round attracted participation from several high-profile crypto investors, including Kraken, Proximity, Fabric Ventures, and the G20 Group, alongside the NEAR Foundation.
Building a Digital Asset Treasury
OceanPal stated that a portion of the funds will be allocated toward building a digital asset treasury centered around NEAR Protocol, one of the leading Layer-1 blockchains optimized for scalability and AI integration. The company also plans to develop a confidential AI cloud platform leveraging NEAR and Nvidia technologies, designed to handle next-generation computing tasks for decentralized applications (dApps) and enterprise AI models.
Through SovereignAI, OceanPal aims to create an investment and infrastructure platform bridging the maritime sector, digital assets, and AI. As part of its long-term strategy, the company intends to acquire at least 10% of NEAR’s total token supply, reinforcing its commitment to the ecosystem.
NEAR Price Analysis: Testing Support After Recent Decline
At the time of writing, NEAR Protocol (NEAR) is trading near $2.26, down roughly 2.8% in the past 24 hours. The token remains under short-term pressure following a rejection near $2.40, with indicators showing limited buying momentum.
The RSI, currently at 39, suggests the asset is approaching oversold territory, while the MACD shows a neutral-to-bearish crossover that could lead to further consolidation. If the price falls below $2.20, NEAR risks revisiting the $2.00 support zone, whereas reclaiming $2.45 would be a sign of renewed strength heading into November.
A Vision for AI Sovereignty
The new venture will focus on building “AI sovereignty” — a concept centered on user-controlled artificial intelligence that operates securely and independently within decentralized environments. NEAR co-founder Illia Polosukhin welcomed the partnership, calling it a milestone for the network’s long-term vision.
“We are delighted to have SovereignAI join the NEAR ecosystem,” Polosukhin said. “Together, we will build true universal AI sovereignty that enables user-owned, private, and autonomous AI commerce.”
A Strategic Leap Beyond Shipping
For OceanPal, the launch of SovereignAI represents a strategic reinvention. By combining NEAR’s blockchain infrastructure with AI-driven automation, the company aims to move beyond traditional shipping operations and into the digital economy’s next growth frontier.
Industry analysts view this as part of a growing wave of corporate crossovers between legacy industries and Web3 ecosystems — where blockchain, AI, and digital asset treasuries are becoming central pillars of future business models.
If successful, OceanPal’s diversification could make it one of the first publicly traded shipping firms to fully integrate blockchain and AI at a structural level, potentially setting a precedent for other traditional sectors eyeing similar transformations.
