Happy Monday, dear readers!
Artificial Intelligence is conquering the planet, promising to improve dramatically⊠well, just about everything.
The most recent demonstration of the power of that promise was the jaw-dropping spike of NVIDIA stocks: +175% since the beginning of the year, of which +35% only in the past week. The company produces chips that power a number of devices, including those with AI capabilities, and the increasing demand for this technology is pushing the stocks up.
The crypto world can also offer AI exposure, either by using AI within the crypto projects, or by providing blockchain-powered services to the AI projects.
AI-related cryptoassets entered the spotlight at the beginning of the year, as ChatGPT was igniting fascination all over the planet. Many crypto AI tokens gained x2, and sometimes x10 in a matter of days, before correcting in April, as the first hype was calming down.
Of course, the price cannot be sustained by hype alone, and what matters is the long-term value proposition behind the tokens.
Letâs look into the major AI-related tokens: $GRT, $AGIX, $FET, $ROSE, $OCEAN, and some others.
The Graph ($GRT)
Market Cap: $1.1 billion
Positioned as Google for blockchain, The Graph leverages AI to conduct a decentralized on-chain analysis.
Just as Google indexes the web, The Graph indexes blockchain data, which is then gathered within open APIs that anyone can query. This brings the famous blockchain transparency to a whole other level, allowing to search and analyse any on-chain data.
Built on Ethereum and compatible with its Layer-2, such as Polygon and Arbitrum, The Graph uses $GRT as its native token, which incentivizes network participants (Indexers, Curators, and Delegators) via staking, payments, and delegation to perform queries.Â
SingularityNet ($AGIX)
Market cap: $385 million
SingularityNET is the leading decentralized AI marketplace, built on Etehreum and Cardano.
It connects AI algorithms and services to form a single global AI network, aiming at democratizing AI and making it accessible to everyone. Developers of AI algorithms can sell their services on the network and get remunerated in $AGIX, the platformâs token.
Singularity also develops an AI-Domain Specific Language, a âdeep self-organizing network of AI agentsâ that will enable separate services to form ad-hoc workflow collaborations to fulfill more complex tasks than any single service would be capable of. These agents will be able to outsource work to each other dynamically â leveraging AI functions, exchanging input/output data, negotiating payments, and enhancing the agent reputation system.
Fetch.ai ($FET)
Market cap: $278 million
Launched in 2019 as a Binance IEO (initial exchange offering), Fetch.ai is one of the oldest crypto x AI projects.
Fetch.ai is a platform for building and deploying intelligent software agents that can automate web3 systems, such as DeFi trading services, smart energy grids, transportation networks, healthcare âessentially any complex digital system that relies on large-scale datasets.Â
At its core, Fetch.ai is an interchain network based on Cosmos SDK. It uses $FET as a native token that secures the blockchain via a PoS consensus, and also as payment for services, network transaction fees, and deploying AI. An ERC-20 version of $FET can also be used within the Ethereum ecosystem, and BEP-20 version â within the BNB Chain.
Oasis Network (ROSE)
Market cap: $260 million
Oasis network is a privacy-oriented Ethereum-compatible blockchain, fuelled by its native coin $ROSE.
The Oasis team leverages its privacy expertise to contribute to the development of a more responsible AI, building AI primitives for major tech players. The company counts collaborations with Meta (privacy protection within Instagram surveys), Personal.ai (protecting data shared by individuals for use in developing conversational AI models), and develops new tools such as Confidential NFTs, particularly suitable for digital identity.
Ocean Protocol (OCEAN)
Market cap: $152 million
Built on Ethereum, Ocean protocol connects data providers and data consumers in a decentralized marketplace. In exchange for their contribution, data providers are awarded in $OCEAN, the platformâs token.
While not exactly using AI, Ocean Protocol positions itself as a service that will provide independent AI initiatives with the datasets necessary for their operations, creating the conditions for decreasing the alarming centralization of the leading AI companies.
Other projects combining crypto and AI
SelfKey ($KEY), $44 million market cap â an identity management system giving users control over their personal information and digital identities.
Cortex ($CTXC), $39 million market cap, aspiring to be the âfirst decentralized world computer capable of running AI and AI-powered dApps on the blockchain.â
PlatON ($LAT), $35 million market cap, an incentive aiming at improving privacy in emerging AI technologies.
Measurable Data Token ($MDT), $29 million market cap, a Decentralized Data Exchange
DeepBrainChain ($DBC), $12 million market cap, another project building an AI computing platform reducing the cost of AI development by offering affordable computing power.
 One of the main concerns about the AI is its centralization, which introduces a single point of failure and all sorts of apocalyptic scenarios. Combining the blockchainâs decentralization with AIâs efficiency is not a bad idea, and both sectors are actively looking into each otherâs tech.
Thatâs all for today, thank you for reading and see you next week! đ«Ą
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