The artificial intelligence crypto narrative has been booming so far in 2023. Since OpenAI’s wonder child ChatGPT opened the floodgates and introduced AI to the masses, AI cryptos have enjoyed boosted market caps and unprecedented interest. With the crypto market showing signs of recovery, the trend is expected to solidify and continue throughout 2023. Like any shiny new hype narrative, it can be hard to sort fact from fiction. The link between artificial intelligence and blockchain technology is still finding its feet. It can be hard to distinguish between genuine AI services that will drive progress and clumsy cash grabs that are riding crypto news hype. In this article, we’ll highlight some of the original AI crypto projects and clarify this murky niche.
These AI networks and protocols existed long before artificial intelligence was a trending topic. Market leaders like The Graph and SingularityNET will continue to build and deliver long after the hype wears off. What is an AI Crypto? Artificial intelligence cryptocurrencies intersect with AI, machine learning, and blockchain technology. While regular AI services help us to automate tasks and simplify basic business processes, AI cryptocurrency tools help us navigate blockchain data more efficiently.
For example, AI crypto tools analyze blockchain data to detect fraudulent or suspicious activities. They also combine algorithms and services with smart contracts to open new possibilities in DeFi. Some AI cryptocurrencies offer token-gated products like AI-powered trading analysis, image creation, or NFT verification. Artificial intelligence streamlines the analysis of blockchain networks, providing detailed information on crypto assets and the wider cryptocurrency market. Potential use cases include analyzing market conditions and trading volume to predict Bitcoin (BTC) and Ethereum (ETH) price targets.
What are the Top Artificial Intelligence crypto coins? Due diligence is important with all the recent excitement around artificial intelligence in the crypto market. Hundreds of new scams posing as ‘AI Cryptos’ launched in early 2023, leaving crypto traders weary of being caught holding an empty bag. Here’s our list of top AI cryptos to help you sort the diamonds from the rocks and distinguish genuine projects from clumsy cash grabs. SingularityNET (AGIX) One of the largest and most well-established AI crypto projects in the market, SingularityNET embodies the spirit of cryptocurrency. Founded in 2017, the platform is a decentralized, open-source marketplace for AI services and products. Through SingularityNET, users and developers buy, sell, and share artificial intelligence algorithms and tools over the blockchain. This AI crypto project helps artificial intelligence developers monetize their work and provides an environment for AI networks and services to interact and learn from each other. AGIX, the native token of SingularityNET, powers the platform. It’s used in protocol governance and a currency of exchange within the AI marketplace. AGIX staking has also been introduced to add further utility to the token. Led by Dr. Ben Goertzel, the SingularityNET team are veterans in the artificial intelligence and machine learning space.
Certain team members previously contributed to the development of Sophia, one of the world’s most recognized AI robots. One of the things that makes SingularityNET unique is its commitment and focus on interoperability. While many digital currencies are only compatible with Ethereum smart contracts, SingularityNET supports AI development on Cardano. Fetch.ai (FET) Fetch.ai is an artificial intelligence laboratory that aims to make AI technology and services accessible to everyone. The Fetch ecosystem is designed to be a permissionless and decentralized machine learning network tied to a crypto economy. The idea behind Fetch.ai is to reduce the amount of human-to-human contact during the creation and deployment of AI networks. This helps to dramatically speed up the development of tools and networks, whether or not they have direct access to the blockchain.
Fetch.ai’s scope and potential is expansive. While it’s currently used to optimize DeFi trading strategies, in the future Fetch.ai will provide AI infrastructure for smart energy grids and transportation networks. Already, Fetch.ai has provided the underlying framework for Resonate Social, an emerging NFT social network built on blockchain. Founded by Toby Simpson, Humayun Sheikh, and Thomas Hain in 2017, Fetch.ai is an AI cryptocurrency with a long-term vision for the shared future of AI and blockchain technology. The Graph (GRT) One of Q1 2023’s best performers, The Graph is a powerful blockchain indexing protocol that supports some of the most popular Ethereum applications. Metaverse projects like Decentraland and dApps like Uniswap and AAVE rely on The Graph to index and retrieve blockchain data effectively, streamlining the end user’s experience.
An easier way to understand The Graph is to imagine the blockchain as an immense library of data and information. The Graph uses artificial intelligence to rapidly sort, index, and retrieve data and smart contracts. This lightens the load on developers and applications, making their tools and services more efficient. The GRT token is the cornerstone of The Graph’s ecosystem. It incentivizes the various network participants and ensures the protocol runs correctly. As a result, large-scale applications needing data indexing services on Ethereum require GRT, driving token demand. The Graph was originally founded in 2018 by Yaniv Tal. This AI crypto is a fundamental part of the wider Ethereum blockchain today. Ocean Protocol (OCEAN) Ocean Protocol is a decentralized data exchange and privacy solution. The platform leverages AI and enables developers to tokenize data, which is unlocked and shared with buyers in the Ocean Protocol marketplace. This creative solution helps data scientists and publishers earn fair value for their expertise while giving researchers and developers reliable and secure information. By token-gating data and information, issuers have greater control and security over its contents.
Trading data tokens using Ocean Protocol accrues transaction fees distributed to OCEAN token holders. By staking OCEAN, holders earn passive income via Ocean Protocol marketplace revenue. In keeping with the theme of our list, Ocean Protocol has been around since long before AI hype in the crypto market. The protocol was co-founded in 2017 by a core team of 15 individuals. This experienced team boasts backgrounds in software engineering, blockchain development, and, of course, artificial intelligence. Numeraire (NMR) Stepping away from data management, Numeraire is an AI crypto project with a vision that appeals to the masses.
Numeraire is a blockchain-based finance platform that operates almost like a decentralized, AI-powered hedge fund. Using artificial intelligence and machine learning, Numeraire actively analyzes the stocks and crypto markets to predict possible price movements and give users a competitive and emotionless trading edge. Moreover, data scientists can propose data-driven trade signals to the Numeraire hedge fund and climb a decentralized leaderboard of contributors. These tournaments improve the platform’s trading efficiency in financial markets, rewarding successful contributors with NMR tokens. The NMR token powers the Numeraire ecosystem. Numeraire users spend NMR tokens to access features within the platform, while data scientists earn NMR as a reward for contributing to the growth and development of the ecosystem. Numeraire is a true OG in the artificial intelligence crypto space. The platform was originally founded in 2015 by Richard Craib and has grown into a market leader among AI crypto projects. Artificial Liquid Intelligence – Alethea AI (ALI) If you thought ChatGPT was impressive, wait till you see Alethea AI’s CharacterGPT. Alethea AI, an emerging research and development studio, is the team behind the Artificial Liquid Intelligence token. Their flagship product, CharacterGPT, creates interactive characters from text inputs. With Alethea AI, users generate a dynamic character through text descriptions and tokenize them as NFTs on the blockchain forever. Each character is modeled for specific traits, like appearances and personality.
They’re also fully interoperable with other blockchain-based dApps. Use cases for these AI-generated NFT characters are limited only by creativity. They’re already being used as virtual guides and assistants and are expected to be implemented into blockchain gaming. ALI is the native token of the Alethea AI platform. It helps to create a decentralized protocol governance system. ALI is also rewarded to members of the Content Moderation Council, who review flagged characters and malicious content within the ecosystem. DeepBrain Chain (DBC) Built on PolkaDot’s Substrate infrastructure, DeepBrainChain is an AI network, blockchain mainnet, and high-performance computing network all rolled into one. The project aims to develop a self-sustaining and expanding metaverse, powered by artificial intelligence. Potential use cases for the wider DeepBrainChain network include powerful cloud computation solutions, blockchain gaming, pharmaceutical services, and visual rendering. DeepBrainChain has been in development since 2017 and has launched its own mainnet blockchain and crypto wallet.
Cortex (CTXC) The Cortex blockchain has ambitious goals. It aims to be the world’s first AI-powered zk-rollup scaling solution. The Cortex ecosystem also hosts AI smart contracts written in Solidity. This makes the Cortex Virtual Machine and blockchain compatible with an Ethereum Virtual Machine (EVM), arguably considered the industry standard. What makes Cortex unique is that the network hosts AI-powered dApps that support and execute machine learning models on-chain. Other legacy chains without this feature rely on off-chain inference, which hinders decentralization. On the Flipside Artificial Intelligence is a complex area of research. There are still plenty of lingering questions about its limitations and capabilities, which leads to confusion and misunderstandings in the crypto market. These conditions give malicious actors a platform to provide misinformation and deploy scams. We recommend that you exercise caution when navigating the AI sector of the crypto market. Why You Should Care AI crypto projects have been exploding in 2023 and establishing a powerful narrative for the future of the cryptocurrency industry. Learning about artificial intelligence and its use in blockchain technology will help you make informed decisions. FAQs How can I buy artificial intelligence cryptos? You can buy most of the larger artificial intelligence cryptos from top exchanges like Binance and Coinbase.
What is the most popular AI cryptocurrency? The Graph (GRT) is the largest and most popular AI cryptocurrency based on market capitalization and the number of holders. What is the role of AI in cryptocurrency? AI plays a variety of different roles within the cryptocurrency and blockchain industry. For example, AI tools and services can be token-gated to holders of a specific token. Alternatively, artificial intelligence is also used to streamline blockchain data analysis. What are the top AI coins? Coins mentioned in this list, like The Graph (GRT), SingularityNET (AGIX), and Fetch.ai (FET), are some of the top AI coins. This is because they have solid teams developing these platforms long-term, even before artificial intelligence became popular in crypto news.
Source : [Artificial Intelligence Crypto Coins to Watch in 2023](dailycoin.com/artificial-intelligence-crypto-coins/) by Finn Miller - DailyCoin by Finn Miller / February 26, 2023