Table of contents
- What Is Artificial Intelligence (AI)?
- What is an AI Cryptocurrency?
- What Do Cryptocurrencies and AI Have in Common?
- The Best AI Crypto Coins and Tokens for 2023
- Crypto AI Conclusion
Artificial intelligence and cryptocurrency integration has given rise to some of the tech industry’s most innovative and disruptive projects. The ability to merge the power of AI algorithms with decentralized financial systems has opened up new avenues for growth and development.
With an increasing number of projects exploring this space, the crypto space is rapidly evolving and creating new opportunities for growth and innovation.
In this article, we will delve into the best crypto AI projects shaping the crypto world’s future and disrupting the status quo.
What Is Artificial Intelligence (AI)?
Since the advent of ChatGPT, the openness to AI-based technologies is becoming more and more exponential. After all, he raised a $10 billion investment from Microsoft, right?
However, ChatGPT is by no means the first or only AI-based platform, as this technology is older than you might think, talking about it for at least 50 years. So, what’s this artificial intelligence craze all about anyway?
AI and human intelligence
Artificial Intelligence (AI) directs the simulation of human intelligence in machines created to think and behave like humans. These intelligent systems can perform tasks that typically require human-like perception, reasoning, and decision-making.
AI systems can be trained to recognize patterns, make predictions, and perform various other tasks, from simple ones like voice recognition and image classification to more complex ones like autonomous driving and financial trading.
The goal of AI research is to build machines that can perform tasks that usually require human intelligence, such as understanding natural language, recognizing pictures, solving challenging problems, and making decisions.
AI fundamental cognitive abilities
We can see that AI programming encompasses three fundamental cognitive abilities: learning, reasoning, and self-correction.
- The learning process in AI programming focuses on acquiring data and developing algorithms to transform that data into actionable information.
- Reasoning processes in AI programming involve selecting the appropriate algorithm to achieve a desired outcome.
- Self-correction processes aim to refine algorithms to achieve the most accurate results continuously.
To get a better understanding of the hype around AI technology, the above graph is a summary of a report from Statista showing how long it took several platforms to reach 1 million users.
Thus, as a result of the hype, we can see astonishing results for products in the AI industry; ChatGPT managed to reach 1 million users in just five days, compared to Netflix, for example, which took three and a half years.
What is an AI Cryptocurrency?
AI Cryptocurrency, also known as Crypto AI or Cryptocurrency AI, is a new and emerging concept that combines the power of artificial intelligence (AI) with the decentralized and secure nature of cryptocurrencies. Basically, it’s a cryptocurrency that is integrated with AI technology.
This type of cryptocurrency leverages AI algorithms to enhance various processes necessary for the crypto space, especially those related to unbiased, security, transparency, or affordability. AI Crypto, or Crypto Artificial Intelligence, uses the latest advancements in AI technology to automate and optimize these processes and make them more accessible to users.
What Do Cryptocurrencies and AI Have in Common?
Even if cryptocurrencies (especially blockchain technology) and AI are distinct technologies with different purposes, these two topics have become two of the most gossiped around tech enthusiasts. As a result, developers are exploring ways to incorporate them into an increasingly automated world, mainly because they have specific values or attributes in common.
Crypto and AI similarities
Although they are different, cryptocurrency and AI share several similarities that you may need to learn about. These include:
- Unbiased – Both technologies are decentralized and autonomous, which means they make decisions based on logic and rationality without being influenced by emotions. This benefit is obvious in cryptocurrency trading, where AI can make trades based on the investor’s best interests and solid reasoning instead of being driven by fear of missing out or other emotional triggers.
- Transparency – The cryptocurrencies operate on blockchain technology, which is secure and transparent. AI also works transparently, executing instructions to achieve the intended results. Neither technology has a central system that controls or manages them, ensuring fair results.
- Secure – Security is a top priority for both cryptocurrency and AI. Both cryptocurrencies and AI require advanced security measures to protect against malicious actors and ensure the integrity of the systems.
- Affordable – As both technologies continue to advance, they are becoming more accessible and affordable for the general public. As we mentioned ChatGPT above, this program comes, for example, with AI technology that can replace many professions. Likewise, cryptocurrency can eliminate the need for payment processors and financial intermediaries. Both technologies will provide faster, if not instant, results at a fraction of the cost of traditional alternatives.
The Best AI Crypto Coins and Tokens for 2023
With a lot of interest recently around crypto projects based on artificial intelligence, many projects that are actually scams have already sprung up and will continue to do so.
That’s why, for setting our top of the best crypto AI’s, we mainly focused on the usefulness of the projects, but especially the veracity and experience of the team behind them, precisely to avoid recommending scams. However, our recommendation is to do your own research.
Without further ado, this is our top of the best crypto AI you have on the market at the moment:
1. SinguralityNET (AGIX)
SinguralityNET (AGIX) statistics
Max Supply: 2,000,000,000.
Total Supply: 1,249,584,777.
Circulating Supply: 1,199,121,857.
Market Cap: $677,685,833.
About SinguralityNET (AGIX)
SingularityNET was launched in 2017 and raised $36 million in its initial coin offering in just 60 seconds. It is an AI crypto project, an advanced platform that makes it simple for anyone to “create, share and monetize” with AI services.
With its global AI marketplace, you can easily find, try and buy a wide range of AI tools and services using AGIX, the platform’s own digital currency. Besides, the marketplace allows AI developers to showcase and sell their AI creations and keep track of their success.
The talented team behind SingularityNET created Sophia, the world’s most expressive robot. They aim to make her fully understand the human language and keep improving “OpenCog,” an AI framework that could one day reach advanced general intelligence or even surpass it.
The platform was founded by Dr. Ben Goertzel, who serves as SingularityNET’s CEO and Chief Scientist. He is a well-known figure in the AI and robotics industry and has a rich history of working with leading technology companies, including Hanson Robotics and the OpenCog Foundation. He also holds positions as Mozi Health’s Chief Scientist and Vice Chairman for Humanity+.
Simone Giacomelli, another co-founder of SingularityNET, is an entrepreneur and investor who previously worked at crypto consultancy Cryptodex. He left the SingularityNET project in March 2019 to focus on his technology R&D lab, Vulpem, which he established in 2015.
Dr. David Hanson is the third co-founder of SingularityNET and has a vast background in the robotics industry. He worked with Disney between 1998 and 2001 and established several robotics startups over the past two decades, including Human Emulation Robotics, Initiative for Awakening Machines, and Hanson Robotics.
Considering the project, its potential, and especially the team behind it, a team with vast experience in robotics and AI, this project seems relatively safe and has an excellent turnover potential.
2. Ocean Protocol (OCEAN)
Ocean Protocol (OCEAN) statistics
Max Supply: 1,410,000,000.
Total Supply: 613,099,141.
Circulating Supply: 613,099,141.
Market Cap: $325,407,125.
About Ocean Protocol (OCEAN)
Ocean Protocol (OCEAN) is a decentralized platform that leverages artificial intelligence (AI) to enable the secure and transparent exchange of valuable data and services. It is designed to enable individuals and organizations to monetize their data and AI models in a secure and privacy-preserving way.
The platform utilizes blockchain technology to provide a secure and transparent environment for data transactions, enabling users to control who has access to their data and how it is used.
Ocean Protocol incorporates AI technology to improve its performance and offer a more sophisticated data exchange platform. This enables the secure and open sharing of AI models and data, opening up opportunities for the development of new AI-powered applications and services.
The platform is powered by a tokenized economy, where users can trade data, services, and assets using the OCEAN token. With Ocean Protocol, users can take control of their data and participate in the data economy securely and transparently.
The Ocean Protocol was established in 2017 by Bruce Pon and Trent McConaghy and a team of accomplished consultants and entrepreneurs with a proven track record in building and scaling high-tech businesses. Led by CEO Bruce Pon, an accomplished international project manager and the CEO of BigchainDB, the core team of 15 includes experts in engineering, AI, marketing, and management.
McConaghy, who holds a Ph.D. in Creative AI and has published several well-received books, brings a wealth of knowledge to the team. He founded AI and circuit design start-ups ADA and Solido before focusing on Ocean Protocol.
Completing the core team are Razvan Olteanu, COO of BigchainDB, and marketing director Cristina Pon. Thirty-five advisors support the platform with blockchain, AI, big data, and business expertise. Governed by the Ocean Protocol Foundation, a Singapore-based non-profit, the core protocol and network were built by BigchainDB, which also manages marketing and community initiatives.
With a long list of advisors that boast expertise in fields such as AI, blockchain, big data, and business, and a history of successful company ownership, the Ocean Protocol seems to be a reliable and well-supported platform.
3. Fetch.AI (FET)
Fetch.AI (FET) statistics
Max Supply: 3,409,064,989.
Total Supply: 1,152,997,575.
Circulating Supply: 818,912,300.
Market Cap: $443,755,853.
About Fetch.AI (FET)
Fetch.AI is a cutting-edge AI crypto lab that aims to create a decentralized, open, and accessible network for machine learning and a cryptocurrency-based economy. The project endeavors to democratize access to AI technology by enabling anyone to connect to its secure network and leverage datasets through autonomous AI tasks.
The platform is designed to solve complex digital systems across various industries, such as DeFi trading, transportation networks, smart energy grids, and travel, utilizing large-scale datasets to optimize these services.
Fetch.ai was founded in 2017 by a team of experts based in Cambridge, UK. The project was established by a trio of leading minds in the tech industry, including Toby Simpson, Humayun Sheikh, and Thomas Hain. Sheikh serves as the CEO, with Simpson as the COO and Hain as the Chief Science Officer.
The CEO, Humayun Sheikh, is a dynamic entrepreneur with a proven track record of success in multiple industries.
Humayun’s entrepreneurial journey began with Metallis, where he brought a fresh perspective to the steel recycling sector and grew the company from a start-up to £40 million in just six years. His forward-thinking approach also extends to his investments, including early support for DeepMind and PLUMgrid, which VMWare later acquired.
With a background in nanotechnology from Cranfield University, Humayun deeply understands emerging technologies and focuses his efforts on Blockchain, AI, and Machine Learning.
The Fetch.AI model and team seem reliable and innovative, focused on bridging the gap between AI and decentralized technology.
4. Numeraire (NMR)
Numeraire (NMR) statistics
Max Supply: 11,000,000.
Total Supply: 10,931,080.
Circulating Supply: 5,888,504.
Market Cap: $136,179,687.
About Numeraire (NMR)
Numerai is a San Francisco-based platform that utilizes Ethereum technology to provide a space for developers and data scientists to experiment and build innovative machine-learning models.
Numerai is known as the first hedge fund to launch a cryptocurrency and has a unique approach to stock market trading, relying heavily on AI-generated data predictions through its data science tournament. The Numeraire (NMR) token is awarded to data scientists whose models perform well in the tournament, making the token more valuable as more people participate.
Richard Craib, the founder and CEO of Numerai, has a background in innovation and education, having studied at the University of Cape Town, Cornell University, and UC Berkeley. He is known for his ground-breaking approach to hedge fund management and has been recognized as a Forbes 30 Under 30.
Based on the information available, Numerai appears to be a reliable project with a unique approach to stock trading and an innovative CEO at the helm.
5. iExec RLC (RLC)
iExec RLC (RLC) statistics
Max Supply: 86,999,785.
Total Supply: 86,999,785.
Circulating Supply: 80,999,785.
Market Cap: $179,778,338.
About iExec RLC (RLC)
iExec is revolutionizing cloud computing by creating a decentralized network that allows people to earn money from their computing power, applications, and data. This network is powered by blockchain technology and gives users access to cloud computing resources on demand.
iExec serves industries such as big data, healthcare, AI, rendering, and fintech by supporting their applications.
The backbone of iExec is the XtremWeb-HEP, an open-source software that provides multi-application support, security, data management, virtual image deployment, and more. With iExec, application developers can earn revenue from their algorithms, and data owners can make their valuable data available.
The proof-of-contribution (PoCo) consensus protocol ensures that external resources are certified on the blockchain. This creates a secure and transparent way for people to monetize their computing power and data.
iExec was founded by two experienced and knowledgeable individuals: Gilles Fedak and Haiwu He.
Gilles is the CEO and co-founder of iExec and has a background in research and computer science. He has worked in institutions such as INRIA, UC San Diego, and University Paris-Sud.
Haiwu is the co-founder and head of the Asia-Pacific region at iExec. He has a Ph.D. in computing sciences and has held various positions, such as professor at the Chinese Academy of Sciences, research engineer at ENS Lyon, and assistant professor at Hohai University.
These talented individuals bring their expertise in desktop grid computing from their research at INRIA and CNRS to the development of iExec. This ensures that iExec is built on the foundation of cutting-edge research and expertise.
Crypto AI Conclusion
The AI token sector in the cryptocurrency market may still be in its infancy, with a current market size of approximately $4.65 billion. The actual demand for AI tokens is not entirely apparent yet, leading to speculation in this emerging industry’s early stages.
Despite this, the potential for growth of the AI token market in the crypto space is significant, with increasing numbers of projects and businesses venturing into integrating AI into the cryptocurrency space. This is expected to drive substantial growth in the coming years.