Artificial intelligence continues to develop at a record Pace within the whole Tech sector most of the AI Crypto Coins saw an insane move to the upside in Q1 of 2023 making 10X 20X and even 30X to the investors.
However, many of you including me you don’t see that one coming and couldn’t take advantage of that move getting into those sweet low prices and print massive profits but even though we missed the low prices on this pump.
I decided to start covering the most promising AI crypto projects that can Skyrocket in the next Bull Run even though they saw a pretty good move to the upside already their market cap is still relatively low and the upside potential remains huge.
Before that we should know some of the basic details about this topic.
What is AI?
Artificial intelligence (AI) is a field of computer science enabling machines to make decisions based on data, increasingly mimicking human intelligence.
Recent popular examples include AI-generated artwork – where a program interprets user prompts, written in natural language, to create pieces of digital art and ChatGPT, an application which is able to ‘write’ according to a brief submitted by the user.
In both cases, the outputs are close enough to what a real person might create that they could be mistaken for human creation, and these applications are getting increasingly sophisticated.
Use cases for AI are effectively limitless, and the technology has found its way into the cryptocurrency space.
What’s an AI Cryptocurrency?
AI cryptocurrencies are tokens that power AI blockchain platforms such as The Graph and SingularityNET.
Users spend tokens in order to use the platforms and take benefits of their integrated artificial intelligence.
Artificial Intelligence or AI tokens refer to cryptocurrencies that are specifically developed to fuel AI-based projects, applications, and services, such as decentralized AI marketplaces, AI-powered trading algorithms, AI-driven Decentralised Autonomous Organisations, and many others.
These tokens serve either as a means of payment for transactions on the AI platform or as a way of conferring governance rights to holders.
1. The Graph – Protocol for Indexing and Querying Data from Blockchains
The Graph is a cryptocurrency project that aims to create a decentralized protocol for indexing and querying data from blockchain networks.
The goal of The Graph is to enable developers to easily access and search for blockchain data without relying on centralized intermediaries (a person who acts as a link between people in order to try and bring about an agreement).
And the platform does this by relying on artificial intelligence to optimize the indexing process and to improve the accuracy of search results.
This protocol is built on top of Ethereum and uses a decentralized network of nodes to index and store data in order to make the indexing process easier.
The Graph organizes data into smaller groups – called ‘subgraphs’. The Graph protocol is designed to be modular and scalable, allowing developers to create and customize subgraphs easily.
The Graph also has a native token named GRT. GRT tokens are used to incentivize network participants to perform indexing and query tasks.
Node operators earn GRT tokens for indexing data and serving queries. Similarly, anyone who uses The Graph to locate data on a blockchain should pay for it using GRT tokens.
After launching in December 2020, the price of GRT tokens hit an all-time high within a couple of months – gaining over 19,000% in value by February 2021.
However, the digital asset has suffered from the broader crypto bear market since.
Nevertheless, since the beginning of 2022, the price of GRT tokens has increased by over 200%. At the time of writing, The Graph tokens are trading at around $0.17.
2. Fetch.ai – Network of Autonomous Agents Providing Optimized Services
Fetch.ai is a decentralized network that uses AI to enable autonomous economic agents (AEAs) to carry out a variety of transactions.
It uses blockchain technology and smart contracts to create a distributed network of agents that can communicate and collaborate with each other to complete tasks and solve complex problems.
For instance, the autonomous agents of Fetch.ai can engage in data gathering, analysis, and decision-making.
And furthermore, these agents can be customized to suit different use cases and industries.
These AEAs can also interact with other agents to form a decentralized marketplace for AI services.
Fetch.ai uses a unique consensus algorithm called ‘Proof-of-Stake With Reputation’.
This mechanism allows its agents to earn rewards for contributing to the network and penalizes bad behavior.
Put simply, the PoSR (Proof-of-Stake With Reputation) consensus incentivizes agents to act in the best interests of the network and provides a level of trust and security for its users.
Fetch.ai has a wide range of potential use cases, such as optimizing supply chains, improving traffic flow in smart cities, and facilitating personalized healthcare.
The Fetch.ai network also has its own native cryptocurrency, FET, which is used as a means of exchange for AI services and for staking by node operators.
Since the beginning of 2022, the price of FET tokens has increased by nearly 350%.
3. Synthetix – Decentralized Protocol Enabling the Issuance of Synthetic Assets
Synthetix is a DeFi protocol built on the Ethereum blockchain that facilitates the creation and trading of synthetic assets.
In other words, Synthetix allows users to mint tokenized versions of virtually any real-world asset – such as currencies, commodities, or stocks.
And crucially, these tokens will also mimic the value and behavior of their underlying assets.
The Synthetix protocol uses a system of smart contracts to mint and manage synthetic assets, which are called ‘Synths’.
These Synths are collateralized by the SNX token, which is the native cryptocurrency of the Synthetix network.
Holders of SNX can stake their tokens as collateral to mint and trade Synths, and they also earn rewards in the form of fees generated by the protocol.
This way, Synthetix provides a decentralized platform for users to access a wide range of synthetic assets without the need for intermediaries or traditional financial institutions.
Moreover, it also enables users to trade these assets 24/7 and with minimal fees compared to conventional financial markets.
Despite being introduced in 2018, Synthetix did not experience significant price activity in the market until 2021.
In 2021, the value of Synthetix increased to around $26, which was over 5,000% higher than its initial launch price of just $0.46.
4. Ocean Protocol – Crypto Platform Facilitating Monetization of Data
Ocean Protocol is a decentralized data exchange platform that uses AI to facilitate the sharing and monetization of information.
It essentially functions as a marketplace where providers can share their data assets with consumers in a secure and decentralized manner.
This way, Ocean Protocol allows providers to monetize their data assets by setting their own prices and licensing terms.
At the same time, this protocol also makes data more accessible so that consumers can purchase and use them for their own purposes.
That being said, the Ocean Protocol uses a unique architecture that separates access control from the data itself.
This means that providers can maintain control over who can access their data and how it can be used, even after it has been shared on the network.
The Ocean Protocol’s native token, OCEAN, is used as the main currency for transactions on the network.
It can be used by data providers to set prices for their data and by consumers to make purchases.
Additionally, OCEAN tokens can also be used by node operators to provide services on the network.
According to the Ocean Protocol website, the platform has already partnered with several organizations in the healthcare, energy, and financial sectors – such as Roche Diagnostics, Mercedes-Benz, and DexFreight. As of writing, OCEAN tokens can be bought for around $0.50.
5. SingularityNET – Marketplace for AI Algorithms and Applications
SingularityNET is a decentralized AI network that allows developers to share AI algorithms and services.
In essence, it aims to become a marketplace for AI-related services.
This way, SingularityNET makes AI services easily accessible to developers, researchers, and businesses.
It also allows AI developers to learn from each other and collaborate, making it possible to create more advanced and sophisticated AI applications.
The platform’s native cryptocurrency, AGI, is used as a means of exchange for AI services.
The AGI token is also used to incentivize developers to contribute their algorithms and services.
SingularityNET has already built partnerships with several prominent organizations in the AI industry, including Hanson Robotics and DeepBrain Chain.
However, despite being so popular in the AI community, SingularityNET has lost over 75% of its value in the crypto market over the past three years.
Nevertheless, with cryptocurrency AI surging as a trending topic in 2023, the price of AGI tokens has increased by over 700% since the beginning of the year.
As such, some industry experts consider SingularityNET the best AI cryptocurrency in 2023.
6. Numeraire – Crypto Platform Hosting Data Science Tournaments for AI Developers
Numeraire is a crypto project designed for the purpose of facilitating artificial intelligence research and development.
The Numeraire team has come up with an interesting approach to achieve this goal.
The project hosts tournaments that require data scientists to create models for financial markets.
Developers can then submit their AI-based financial model predictions to control the capital of Numerai’s hedge fund.
The most accurate models will be rewarded with NMR, the utility token of Numeraire.
Furthermore, data scientists need to stake their NMR tokens to participate in the hedge fund’s tournaments.
The platform’s governance is also controlled by its token holders, who can vote on proposals and changes to the platform.
This means that NMR tokens have multiple utilities within the Numeraire ecosystem.
Numeraire tokens have increased by 70% since January 2023.
7. Dynex – neuromorphic computing
Dynex describes itself as a Next Generation platform for neuromorphic computing based on a groundbreaking flexible blockchain protocol, It consists of participating proof of useful work (PoUW) miners that constitute a decentralized neuromorphic super Computing Network which is capable of performing computations at unprecedented speed and efficiency even exceeding Quantum Computing.
By transforming traditional inefficient computers into neuromorphic chips, we will finally be able to create new discoveries.
Dynex proprietary Proof-of-Useful-Work (PoUW) algorithm DynexSolve enables each miner to perform Dynex Chip computations.
As a community and with collaborative effort we can take the next step towards sustainability and efficacy.
Transform your computer or your dormant GPU mining equipment into neuromorphic machines, earn money and generate wealth.
How Do AI Crypto Coins Work?
AI cryptocurrency projects typically work by incorporating artificial intelligence technology into their blockchain networks.
These projects can use AI in various ways, such as in their consensus algorithms, smart contract execution, or data analysis.
- In simple terms, with the right training data, developers can integrate AI with blockchain technology to do virtually anything – from identifying investment opportunities to automating tasks.
- This provides a new and revolutionary platform for developers to create applications and services that can potentially result in a more transparent and efficient system.
AI crypto coins are digital assets that are designed to power projects that use artificial intelligence.
These AI cryptocurrencies might be used to facilitate transactions with a network or may confer governance rights on their holders.
What Are the Uses of AI Crypto?
As is clear from our analysis, the combination of AI and cryptocurrencies can help design innovative solutions to real-life problems.
In fact, some of the best AI crypto coins in the market have applications within many industries – such as healthcare, supply chain, financial services, and more.
Moreover, developers are always coming up with new ways to take advantage of AI and machine learning to design innovative projects.
