Top 10 AI Crypto Projects to Lookout for in 2023
The crypto industry is an ever-evolving market. Starting with Bitcoin, the crypto sector is now home to a myriad of digital tokens. Among the many digital tokens, AI cryptos have become a huge interest across the community.
The Mutated Child of Artificial Intelligence and Cryptocurrency
The convergence of two highly-advanced technology, blockchain and artificial intelligence(AI), resulted in the creation of AI cryptos. This allowed the community to benefit from both these technologies. One thing common among all these new crypto tokens is that they have made use of AI features.
Most of the time, users reportedly would spend these AI cryptos for transaction purposes within the native blockchain network of those tokens. However, over time, individuals have pointed out the potential of AI crypto. With this new combined tech, AI crypto can create a dynamic environment while ensuring the transactions are automated and much faster.
The Importance of AI Cryptocurrencies
The world is filled with a huge amount of data, making it almost impossible for an individual to review all those information. With Artificial Intelligence, it can easily filter out all the unwanted data on the Internet and provide the best information to the users. AI technology has the ability to learn new information and data.
Cryptos also makes use of another revolutionary tech. Blockchain technology has opened up the markets and created a trustless connection among individuals, reducing the control industries had on various sectors.
By combining the features of both these technologies, AI crypto has started a new digital revolution. This technological wonder has branched across various industries and shown the utilities of these highly-advanced digital tokens.
Our guide will provide a deeper insight into the technological wonders of Artificial Intelligence and blockchain. Without further ado, let’s take a look at the top 10 AI crypto projects in 2023.
Top 10 AI Crypto Projects in 2023
1. The Graph (GRT): Standing Tall as the Best AI Digital Token
Market Cap: $1,470,208,855
Calling themselves a decentralized query protocol for blockchains, The Graph allows you to build Dapps on Ethereum and IPFS using their GraphQL easily. Even before the release of their protocol, numerous projects and individuals reportedly showed interest in The Graph.
The Graph aims to enhance the overall Web 3 experience by making it better than the current centralized alternatives. Moreover, this AI crypto project also allows anyone to build and publish APIs, called subgraphs. At the time of writing, there are over 3000 subgraphs that have been deployed by developers.
With their one-of-a-kind Query Layer, it enables developers to query a peer-to-peer network of indexing nodes using GraphQL and can verify the results on the client. Based on CoinMarketCaps ranking, GRT, the native token of The Graph, remains under the top 50 cryptos; however, it ranked first among the top AI cryptos.
Read Also : The Graph (GRT) Price Prediction 2023-2030
2. SingularityNET (AGIX): The Marketplace for AI Data Sets
Market Cap: $652,131,175
SingularityNET, the self-proclaimed next-generation of Decentralized AI, aims to create a decentralized, democratic, inclusive, and beneficial Artificial General Intelligence(AGI). Through their blockchain technology, this AI crypto project will allow anybody to create, share and monetize AI services easily.
Some of the technology under their wings include Artificial Intelligence, AI Marketplace, AI Publisher, AI – Domain Specific Language (DSL), AGIX Token Tools, and AGIX Staking & Bridge. One of their long-term projects, OpenCog Hyperon, expects a much faster, scalable, and more flexible design, making it easier to learn and use.
Even AGIX, the native token of SingularityNET, plays a vital role in their ecosystem. SingularityNET described their native AI crypto token as a utility token used throughout their platform for transaction management and decentralized community governance. Moreover, similar to many digital tokens, AGIX is also a multichain token used across multiple networks such as Ethereum and Cardano.
Read Also : SingularityNET (AFIX) Price Prediction 2023-2030
3. Fetch.ai (FET): Utilizing Blockchain and Artificial Intelligence to Generate Profits
Market Cap: $441,841,777
Ranking third, based on CoinMarketCap’s Top AI & Big Data Tokens by Market Capitalization, the Fetch.ai network is an interchain protocol based on the Cosmos-SDK. This AI crypto project has also adopted a high-performance WASM-based smart contract language called CosmWasm.
Fetch.ai identifies itself as a layer-1 network for Ethereum. Moreover, it acts as an interchain bridge to the rest of the blockchain world. Its blockchain and artificial intelligence features allow anyone to connect and access secure datasets using autonomous AI to complete tasks. The Fetch.ai ecosystem is also inspired by an AI known as Multi-Agent Systems, suited for multi-stakeholder environments.
Vital for its ecosystem, FET, the native token of the AI crypto project, is used as the primary medium of exchange to pay for transactions within its network.
4. Ocean Protocol (OCEAN): The Monopoly-Destroyer of the AI Crypto Sector
Market Cap: $326,241,518
Identifying the importance of data, Ocean Protocol, an emerging AI crypto project, announced that its mission is to unlock data for the public, thus, reducing the monopolistic control of organizations in the data and AI sector. The Ocean Protocol can unlock the value of data by allowing transactions to take place with ERC-20 smart contract tokens.
Ocean Protocol ensures open access to data, provides data governance, promotes the network’s growth, and ensures every step is a journey toward decentralization. Ocean Protocol’s utility token, OCEAN, allows users to stake on data for curation, to buy and sell data. OCEAN is also the basic unit of exchange in the Ocean Protocol Market.
Moreover, this AI crypto project allows publishers a chance to earn rewards when they release data sets in the network. At the same time, it allows consumers to get their hands on datasets that were difficult to find.
5. Exec RLC (RLC): The New-Gen Internet of AI and Crypto
Market Cap: $179,722,473
With an idea to create the next generation of the Internet, iExec RLC focuses on bridging the gap between resource providers and users. This AI crypto project also combines the powers of blockchain and confidential computing to create an efficient environment for Developers, Providers, and Requesters. In the iExec RLC environment, blockchain creates a market network where people gain rewards through computing power, application, and datasets.
iExec RLC allows Dapps to access the servers, data sets, and computing resources easily across the network. Moreover, iExec RLC promotes a Virtual Cloud Infrastructure that provides high-performance computing services on demand.
Moreover, this AI crypto project’s native token, RLC, is used as a conduit to conduct transactions, allowing users to gain access to computing assets through exchanging RLC.
6. Numeraire (NMR): The First-Ever AI Crypto Project of a Hedge Fund
Markert Cap: $142,323,009
Founded in 2015 by Richard Craib, Numeraire is an Ethereum-based ecosystem that allows developers and data scientists to showcase their machine-learning models with improved reliability. Reportedly, this AI crypto project is mentioned as the first hedge fund to launch crypto and use machine learning in its investment strategy, primarily relying on the data and predictions generated by the participants who partake in the Numerai Tournament.
With their unique idea, Numeraire awards participants with NMR tokens, this AI crypto project’s native coin, whose model performs well during the tournament. Nurmeraire’s strategy hopes to make the NMR more valuable as more people participate in the tournament. Another reason Numeraire’s approach toward stock trading is unique is that they most significantly rely on AI-generated data prediction giving them an extra edge in the market.
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7. Artificial Liquid Intelligence (ALI): The Underdog Contender Of AI Wars
Market Cap: $285,895,992
As one of the top AI crypto tokens, Althea’s Artificial Liquid Intelligence(ALI) token serves as the governance token for its platform, allowing token holders to participate in the decision-making process that affects the platform. ALI also opens the doors into Althea AI’s innovative world of innovation, allowing user access across different projects.
Furthermore, Althea was also called the upcoming competitor of OpenAI by Business Insider, as there is a huge interest in Artificial Intelligence observed in the community. Althea is famous for being the birthplace of its Dapps, such as Noah’s Ark and CharacterGPT. Self-proclaimed as the “world’s first Intelligent Metaverse,” this AI crypto project combined the features of AI protocol, thus, enabling users to create intelligent NFTs (iNFTs), developing an opportunity for innovative interaction.
8. dKargo (DKA): Combining AI and Crypto to Enhance the Logistics Sector
Market Cap: $104,338,524
In the hopes of making the logistics industry much more efficient, dKargo has implemented blockchain technology to solve trust issues faced in the ever-moving sector. This AI crypto project is also aiming to provide Web3 logistic services until the very end of the world. dKargo also provides various projects, such as dKlip, dFull, dScanner, M.O.D, and L.O.D, to meet the different demands of the logistics industry.
Moreover, one of the techs of this AI crypto project, Matching On dKargo (M.O.D.), utilizes AIROE (A.I Route Optimization Engine) to provide an enhanced experience in the logistics sector, saving time and cost. Furthermore, DKA, the native token of dKargo, is currently standing among the top 10 AI and big data tokens, according to COinMarketCap.
9. Covalent (CQT): Bridging The Data Gap With AI Crypto Technology
Market Cap: $97,102,263
Covalent is a big-data technology company that provides insights to investors and developers to help them allocate their resources effectively. This AI crypto project aggregates information from multiple sources and returns data consistently and rapidly via its API. Covalent plans on sourcing data not just from a few networks but also from various nodes, chains, and data feeds.
Covalent plans for a progressive decentralization world that will allow the network to be owned and operated by its users, giving back the power to the people. The native token of this AI crypto project, CQT, acts as a governance token and can be used as a staking asset. Moreover, CQT also enables users to gain access to the Covalent network, thus, making it a utility token.
As the brainchild of the team behind CQT, it has also branched out to provide various utilities, such as paying taxes. The API technology of Covalent acts as critical infrastructure for DeFi protocols, NFTs, and DAOs.
10. Phala Network (PHA): The AI Crypto Bodyguard for Cloud Services
Market Cap: $90,148,120
Formed from the idea of professionals in the tech sector, Phala Network is a privacy-focused cloud computing network for existing cloud services. This AI crypto project mainly focuses on protecting and maintaining the integrity of the privacy of various programs.
Phala Network utilizes TEE-Blockchain Hybrid Architecture for its infrastructure. Moreover, this AI crypto project is also based on Substrate and runs as a para chain in the Polkadot ecosystem. Reportedly, it is also considered one of the most promising projects in the Polkadot ecosystem, based on privacy.
Furthermore, Phala Network also offers a trustless computation platform that enables scalable cloud processing without compromising on the quality of data preservation. PHA, the native token of Phala Network, similar to many utility tokens, is a vital factor for purchasing trusted computing resources, community governance, and more.
Read Also : Phala Network (PHA) Price Prediction 2023-2030
Looking Into the Future of AI and the Crypto World
While some AI cryptocurrencies are used as an essential component for enjoying the benefits of the network, other projects fused the strengths of the two cutting-edge technologies to reduce the risks faced by the community.
The future of AI and crypto is quite unpredictable, as every innovator is looking forward and thinking about improving the lifestyle of future generations. Moreover, AI has already entered our lives and made them much smoother.
For instance, if an individual wanted to search for some information, they would have to find it with resources available, such as the Internet. This would take a lot of time since there is a lot of information on the net and they have to search for the correct data. Meanwhile, if they use an AI, such as the ChatGPT, all they have to do is type in the question and the machine would filter out all unwanted data and select the most valuable answer, thus, saving time.
While the example above provides just one idea used in the new world, in reality, the AI crypto universe is vast. Artificial Intelligence started with a simple idea; however, its transformation was quick. With AI’s flexibility and cryptos decentralization feature, this could branch out across various sectors over the coming years. In other words, AI and cryptos will witness sudden growth and transformation in the near future.
In simple terms, they are digital tokens incorporating the technology of both Artificial Intelligence and blockchain.
While this tech is relatively new, AI cryptos are used to conduct transactions on their native network. Moreover, developers and publishers could use it to purchase data sets and earn rewards; however, AI cryptos are being utilized for various purposes over time.
AI cryptos can be purchased across various crypto exchanges such as Binance, Coinbase, Crypto.com, and more. It is also available across decentralized exchanges such as Pancake Swap.
Initially, it started as a transaction medium to be utilized within the network. AI cryptos are currently evolving as it is being used not just in their native network but also across various ecosystems. AI crypto will become much more advanced over time as it’s being used in multiple sectors.