Intro
Are you tired of ChatGPT? If yes, I feel sorry, as that’s a part of our reality now. This technology goes further and further, it reaches blockchain, as well. It even helps people to make investing decisions and make some money. Let’s have a look at top 10 AI tokens that look quite promising. The main reference here is CMC and its ranking of the most valuable tokens by market capitalization.
What Are AI Tokens?
AI tokens are cryptocurrencies that use AI to maximize security, user experience, and scalability. Theoretically, AI can be trained to further automate and build trust or efficiency in many crypto systems. AI tokens can also be digital currencies designed to power AI-based apps or projects, including decentralized marketplaces or exchanges, image or text generation services, AI-based investment protocols, and more.
Top 10 AI Tokens That Are In Trends Now
- The Graph (GRT)
Market Cap: $1,247,152,146
The project calls itself a decentralized query protocol for blockchains and allows you to build Dapps on Ethereum and IPFS using their GraphQL. Far before the release of their protocol, many projects and individuals showed interest in The Graph.
The Graph aims to boost the general Web 3 experience by making it better than the centralized options. Moreover, it allows anyone to build and publish APIs, called subgraphs. Developers have deployed 3000+ subgraphs so far.
The project has a one-of-a-kind Query Layer, which helps developers query a peer-to-peer network of indexing nodes with GraphQL and verify the results on the client. GRT, The Graph's native token, remains under the top 50 cryptos; It ranked first among the top AI cryptos.
- SingularityNET (AGIX)
Market Cap: $514,846,116
SingularityNET focuses on creating a decentralized, democratic, and beneficial Artificial General Intelligence (AGI). Thanks to their blockchain technology, this AI crypto project will allow people to easily create, share and monetize AI services.
Their projects include Artificial Intelligence, AI Marketplace, AI Publisher, AI – Domain Specific Language (DSL), AGIX Token Tools, and AGIX Staking & Bridge. Their project, called OpenCog Hyperon, expects a faster, scalable, and more flexible design that makes it easier to learn and use.
AGIX, SingularityNET's native token, is essential to their ecosystem. SingularityNET describes it as a utility token used within their platform for transaction management and decentralized community governance. AGIX is a multichain token used across networks like Ethereum and Cardano.
- Fetch.ai (FET)
Market Cap: $441,841,777
The Fetch.ai network is a protocol based on the Cosmos-SDK. This AI crypto project has also taken on a WASM-based smart contract language called CosmWasm that shows high performance.
Fetch.ai calls itself a layer-1 network for Ethereum. It works as an interchain bridge for other blockchains. Its blockchain and AI features provide people with connecting and accessing secure datasets using autonomous AI to fulfill tasks. The Fetch.ai ecosystem is also inspired by Multi-Agent Systems, suitable for multi-stakeholder systems.
Essential for its ecosystem, FET, the native token of the AI crypto project, is used to pay for transactions within its network.
- Oasis Network (ROSE)
Market Cap: $313,519,723
The Oasis Network solves some critical issues in the DeFi market today—first, a lack of privacy. The protocol came up with the most effective methods introduced by developers — confidential smart contracts.
💡 Smart Contracts allow parties to use all the benefits of public blockchain technology with a clear understanding that their data remains confidential. A smart contract is an agreement between various parties written in code. Smart contracts help verify, process, and record transactions.
An extra layer of privacy given to users and developers is one of Oasis Network's killing features. The protocol takes a privacy-first design, empowering developers to create financial applications to serve the masses. This strategy also opens the door for traditional financial networks to integrate DeFi features into their offerings.
There are several ways to secure passive rewards using Oasis. The network supports farming and staking as low-risk investment strategies. Both options help users create rewards without giving up ownership of their assets.
- Render Token (RNDR)
Market Cap: $326,241,518
Render Token (RNDR) is the Render Network's native token. This is a decentralized GPU provider built on Ethereum to bridge artists and node operators with GPUs required to facilitate the renders
RNDR is used to reward artists who rent out their GPUs. However, all RNDR payments are kept in escrow during the rendering process and are only released when the artist manually validates successful work.
To prevent fraudulent acts by lenders and users of the GPU, the Render Network watermarks all assets rendered on the network until payment is successfully disbursed. RNDR is also a governance token used to vote on the protocol and have an impact on the project's roadmap.
- Injective (INJ)
Market Cap: $326,241,518
Injective Protocol is a DeFi protocol for cross-chain derivatives trading across many financial products, such as perpetual swaps, futures, and spot trading.
The Injective Chain is a Cosmos SDK module built with Ethermint (EVM on Tendermint). It utilizes a Tendermint-based Proof-of-Stake to facilitate cross-chain derivatives trading across Cosmos, Ethereum, and other layer-1 protocols.
Injective Protocol is collision-resistant to prevent front-running and utilizes Verifiable Delay Function (VDF).
INJ is an Injective Protocol asset used across diverse functions such as protocol governance, exchange fee value capture, derivative collateralization, liquidity mining, and staking.
The Injective platform makes it possible for its users to participate in decentralized cross-chain derivatives trading without paying gas fees —access cross-chain yield generation for a multitude of assets. Create and trade on any derivative market with only a price feed, thereby opening up more opportunities for trading on markets not found on other exchanges.
- Ocean Protocol (OCEAN)
Market Cap: $326,241,518
Ocean Protocol is another AI crypto project that aims to unlock data for the broader public. They want to reduce the autocratic approach of organizations in the data and AI sector. By doing this, the Ocean Protocol can unlock the value of data by allowing transactions with ERC-20 smart contract tokens.
Ocean Protocol provides open access to data, and data governance encourages the network’s growth and confidently marches toward decentralization. Ocean Protocol has a utility token, OCEAN, that gives an opportunity to stake data for curation and also buy and sell data. OCEAN is an essential part of an exchange in the Ocean Protocol Market.
Moreover, the project allows publishers to earn rewards when they release data sets in the network. At the same time, it will enable consumers to get their hands on datasets that were difficult to find.
- iExec RLC (RLC)
Market Cap: $127,426,820
The Internet, iExec RLC centers on narrowing the gap between users and resource providers. This project also combines the strengths of blockchain and confidential computing to make a well-structured environment for Developers, Providers, and Requesters. In the iExec RLC ecosystem, blockchain creates a market network where people get rewards through the application, computing power, and datasets.
iExec RLC provides Dapps with access to the servers, data sets, and computing resources across the network. On top of that, iExec RLC promotes a Virtual Cloud Infrastructure that delivers computing services with high performance on demand.
Also, its native token, RLC, is used as a mediator to conduct transactions, allowing users to gain access to computing assets through exchanging RLC.
- Artificial Liquid Intelligence (ALI)
Market Cap: $285,895,992
Althea's Artificial Liquid Intelligence has an ALI token that acts as the platform's governance token, empowering token holders to participate in the voting process that affects the platform. ALI is also a door to Althea AI's world of innovation, providing users access across various projects.
What's more, Business Insider called Althea is an upcoming competitor of OpenAI. That's because there is a vast interest in Artificial Intelligence in the community. Althea is a well-known spot for its Dapps, such as Noah's Ark and CharacterGPT. The project claims itself as the "world's first Intelligent Metaverse," as it combines the AI protocol features, empowering users to create intelligent NFTs (iNFTs).
- Numeraire (NMR)
Markert Cap: $142,323,009
Numeraire is an Ethereum-based ecosystem that enables developers and data scientists to deploy their machine-learning models with boosted reliability. The following crypto project is mentioned as the first hedge fund to roll out crypto and use machine learning in its investment strategy, counting on the data and predictions aggregated by the participants who take part in the Numerai Tournament.
Numeraire grants participants whose model performs well during the tournament with their NMR tokens. Nurmeraire wants to make the NMR more valuable as more people join the tournament. Besides, Numeraire’s approach toward stock trading is unique because of relying on AI-generated data prediction giving them an extra edge in the market.
AI Tokens Use Cases
Once the blockchain is invaded by AI tokens and projects, what real use cases can we expect from it?
- AI infrastructure. It relates to the software, hardware, data, computing resources, and other tools used for building AI systems. These infrastructures are also responsible for the deployment and sustainability of the systems. Every talent working on AI technology, such as software engineers, data analysts, data scientists, and DevOps, utilizes AI infrastructure to test, train, and deploy AI algorithms.
- Decentralized AI marketplaces. These marketplaces are open for anyone interested in buying and selling AI-related items paying with AI tokens. They are entirely decentralized, so no entity is there to interfere. The only payment method in this marketplace is AI tokens.
- AI portfolio management. Such AI bots help you in managing and optimizing investment portfolios using AI algorithms and techniques. It's risk management, asset selection, rebalancing of portfolio, and other activities. Data scientists get AI tokens as a reward for submitting precise predictions to the platform.
- Personal data for building AI models. Private data has a great potential to boost research and business outcomes. It’s valuable, but there are access obstacles. Thus, an AI token works this issue out by monetizing data and ensuring data privacy.
The Bottom Line
The future of AI tokens is quite uncertain regarding regulation surrounding the cryptocurrency market, especially in 2023, a high competition level from other AI projects and digital tokens, and a vague public understanding of the details of AI-based projects.
However, there are benefits, as well. For example, AI tokens have built-in decentralization and greater security. Some AI currencies have a limitless possibility for new applications and use cases.
We can expect a definite interest in AI tokens, as investors and traders might find that technology rather beneficial.
Disclaimer: Notum does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Cryptocurrency is subject to market risk. Please do your own research and trade with caution.