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The AI in Crypto: Could It Be The Next Big Narrative?

January 30, 2023
News, Project Spotlights

AI-powered crypto projects are on the rise just like ChatGPT or Midjourney. AI's ability to solve complex problems & data analysis makes it a valuable addition to decentralized finance.

The recent investments from tech giants like Microsoft in AI and the rise of AI-powered applications like Midjourney, ChatGPT or HelloAI have naturally sparked public interest and investment also in AI-related crypto projects. 

With its ability to assist in complex problem-solving and data analysis, AI could be a valuable addition to decentralized finance. The future of finance could be eventually not only decentralized but also human-less.

As AI continues to gain traction, it presents both opportunities and challenges for the crypto market, making it a topic worth exploring for investors and innovators alike. 

Can AI become the Next Big Crypto Narrative?

The integration of AI in the crypto market can offer a number of benefits, such as improved security, faster transaction times, and more sophisticated data analysis capabilities

The use of AI can also help in identifying fraud and detecting suspicious activities. Moreover, AI-powered platforms can provide valuable insights into market trends and help investors make informed investment decisions.

With the continued growth of AI and its potential applications in the crypto world, it's not surprising that AI has the potential to become a major narrative in the crypto industry. 

What are the top cryptocurrencies using AI?

We’ve taken a look at 5 AI-focused cryptocurrencies that have emerged on the market recently. Each coin has unique advantages and of course disadvantages. Before investing in any specific coin, always do your own research. Our blog posts are not investment advice.

Fetch.AI

Fetch.ai is a decentralized AI network that allows anyone to access secure data and execute tasks using AI. Launched in 2019, it uses the FET token to incentivize the deployment of digital twins and the training of autonomous agents. 

The platform has four key components: the Digital Twin Framework, Open Economic Framework, Digital Twin Metropolis, and the Fetch.ai Blockchain. These components work together to provide a secure, auditable environment for machine learning and smart contract coordination. 

The network operates on a collective learning model, with each participant contributing their private data for the training of a global machine learning model. The decentralized data layer, based on IPFS, facilitates the sharing of weights between all participants.

SingularityNET

SingularityNET is a blockchain platform that enables anyone to easily monetize AI services through its globally accessible AI marketplace. Using the platform's native token AGIX, users can browse, test and purchase AI services from developers who can publish and sell their AI tools. 

The platform's goal is to achieve human-level AI through the development of the world's most expressive robot, Sophia, and the OpenCog framework. It was first announced in 2017 and raised $36 million in its ICO. 

AGIX token holders can vote on network operations and stake their tokens. SingularityNET has also partnered with Hanson Robotics to release Awakening Health, a joint venture that develops AI healthcare products, starting with Grace, a humanoid assistant.

Artificial Liquid Intelligence

Artificial Liquid Intelligence (ALI) is creating a unique and innovative decentralized metaverse known as Noah's Ark. 

Alethea AI has developed a cutting-edge iNFT protocol that allows developers to use AI animation, interaction, and generative AI capabilities to create, train, and earn from their iNFTs in the world's first Intelligent Metaverse, Noah's Ark.

As the population of iNFTs within Noah's Ark grows, so too does the potential for interactions and collaborations between them, leading to the emergence of an "Intelligent Hive Mind" powered by the Ark's AI engine. 

Numeraire

Numeraire is an innovative combination of cryptocurrency and AI that drives the Numerai hedge fund. 

It uses the Ethereum blockchain to allow users to trade stocks and participate in the Numerai Tournament, where they can build and stake machine-learning models on financial data to predict stock market outcomes. 

The winning models are combined to form the Meta Model, which controls the hedge fund's investment decisions globally. NMR coins are used to stake predictions, reward top performers, and distribute returns. Stake your NMR wisely - wrong predictions result in coin destruction. The platform offers two products, Signals and Tournament, appealing to different types of traders.

iExec

iExec is a decentralized cloud computing platform that uses blockchain technology to provide on-demand access to cloud computing resources for applications in areas such as AI, big data, healthcare, rendering, and fintech. 

Users can contribute their computing power as iExec Workers and receive rewards in RLC tokens. iExec's proof-of-contribution consensus protocol certifies the usage of external resources on the blockchain. 

The platform also features a marketplace for AI models that allows users to securely trade them using trusted computing technology with Intel SGX. iExec is working with various organizations to provide scalable and secure access to services, datasets, and computing resources.

The Future of AI & Crypto Integration

AI and crypto: a match made in heaven? This combination has both opportunities and challenges for investors and innovators. With AI-focused cryptocurrencies promising improved security, faster transactions, and sophisticated data analysis, the future of this market is looking bright.

But before jumping in, it's important to do your research. While AI crypto tokens hold potential, not all projects are created equal. Evaluate their chances of success and the strength of their development team. Make sure there's a clear need for their solutions.

AI has the potential to revolutionize the crypto space, but only time will tell. Just remember, this article is just an informative overview, not financial advice. So do your due diligence before making any investments.

Disclaimer: The content of this piece reflects the writer's opinion. This article is not intended to provide financial advice and is meant solely for entertainment and educational purposes. Investing in cryptocurrency involves significant risk. Capital is at risk, and returns are not guaranteed. Always conduct your own research.

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