Artificial Intelligence started by creating a model of artificial neurons in 1943 and got into today’s Amazon Echo. We’re so used to AI nowadays that we don’t even know its use cases. The latest AI development, ChatGPT, allows people to chat with an AI released by OpenAI. Although it’s currently making waves around the internet, this technological tool paves the way for future technology.
On the other hand, the crypto industry is another technological advancement, even though it started only in 2009 with the release of Bitcoin, the first cryptocurrency. Although many have followed, with more or less complex features, the Bitcoin price reached $28,000 and has remained a stable asset for investors’ portfolios.
But now, there’s a demand for more developments that satisfy the current need for technology, which is why AI and cryptocurrencies merged. Here are some examples of AI token projects.
The Graph, an open-sourced software
The Graph is a protocol built on Ethereum that was made to collect and store data for specific blockchains. For example, Ethereum and Avalanche users can leverage the benefits of the Graph by having proper software to search for the information they need. This solution is similar to Google in some ways but made for blockchains.
Graph’s native currency is GRT, and its quantity is based on people spending it to participate in and earn blockchains. At the same time, if you want to search for something on the Graph, you need to pay a certain fee with GRT. This diverse blockchain ecosystem has Curators, Indexers, Delegators, and Consumers.
SingularityNET, the next generation of Decentralized AI
SingluarityNET is a decentralized AI marketplace that aims to develop Artificial General Intelligence (AGI). Decentralized AI creates fairness among power distribution, value, and technology. In this AI market, users can build, share and sell their AI services using the platform’s native cryptocurrency, AGIX. SingularitNET is built on the Cardano blockchain, which is why the market provides sustainable resources for developers.
Here’s what you can do with the AGIX token:
- Use it as a utility token for transactions;
- Participate in governance levels;
- Stake on the blockchain to provide liquidity to the network;
One unique feature of SingularityNET is airdropping tokens, which make part of the loyalty program. These rewards work in eligibility periods in which prizes are proportional to token balance, and these distribution periods are announced every year along with the total sum distributed.
Fetch.ai, a better autonomous system
Fetch.ai is a machine-learning platform based on the Cosmos-SDK blockchain that uses one of the most advanced smart contract languages, CosmWasm. At the same time, Fetch.ai serves as a layer-1 network for Ethereum. The platform works best for automating business tasks like trading. Its native currency is FET, and users can pay for transactions on the network with it.
Fetch.ai provides the following unique features:
- Agents for P2P interactions that enabler a new layer of communication;
- Blockchain and smart contract tools for economic settlement;
- Innovative solutions provided by Decentralized Machine Learning;
- Tooling for contract deployment, testing, and fast querying;
You can build and deploy many apps and solutions on Feth.ai as the network allows investors to use specific tools, and the community encourages anyone who engages in AI projects to use them to their advantage.
Ocean Protocol, a new asset class
Ocean Protocol is a platform backed by the Ethereum blockchain for users and companies to exchange and monetize their data and services. The company aims to unlock data access and make applications of both technology and governance the way to use data fairly.
The token of Ocean Protocol is OCEAN, and you can use it to sell data or build and launch your marketplace on the Ethereum-based solution. This way, developers can get incentivized for their work and continue their work in the long term. The Ocean marketplace allows data providers and consumers to connect, share their knowledge, and leverage benefits, making OCEAN a good investment.
iExec, a Web3 marketplace
iExec is the perfect place for developers to build Web3 apps and trade computing assets. The platform provides the ecosystem for users to get incentivized for their computing power and access to computing resources. Users can also request unlimited computing power for their applications to solve industry-specific problems.
iExec has the RLC token with which users can transact in the marketplace, and this simple-to-use token is widely accessible. Given that over 80 million RLCs are currently in circulation, the coin can be safely stored, transferred, and traded due to its ERC20-compliant digital asset on Ethereum. Since it’s a quite popular AI token, you can find it on several known exchange apps.
iExec used to be a good investment, but given that its popularity went down, 2023 might not be its year.
Alethea Liquid Intelligence, an intelligent NFT
Alethea is a Multimodal AI System through which users and companies generate AI Characters to interact with people. This blockchain project uses iNFTs as effective digital avatars with AI technology through which interactions are possible. With AI-generated animation and voice, such iNFTs can have multiple faces and characteristics.
These intelligent digital people can be used to create texts, images, codes, and videos, making them highly valuable for companies with repetitive tasks. Alethea can be used to create digital guides, virtual assistants, and Licensed AI collectibles.
The native currency of Alethea is the ALI token that enables transactions between iNFTs and provides governance of the AI protocol and intelligence upgrades of these assets. What’s more interesting is that iNFTs can be created to be tokenized, which is done through provable ownership.
Bottom line
Artificial Intelligence and cryptocurrencies might be a weird mix of technology, but the truth is that businesses need these tools to optimize their operations. As these projects continue to emerge on the market and on blockchains, the value of cryptocurrencies will rise, and Artificial Intelligence will pave the way toward new advancements.
