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Top 10 Artificial Intelligence (AI) Cryptocurrencies – Forbes Advisor Australia
AI cryptocurrencies are tokens that power AI blockchain platforms such as The Graph and SingularityNET. Users spend tokens to use the platforms and the benefits of their integrated artificial intelligence.
We looked at the top 10 AI-powered crypto projects based on their market caps, exploring how AI is implemented and the unique value it brings to each platform.
1. Rendering (RNDR)
Market capitalization: 3 billion dollars
Render Network is a decentralized platform that connects artists and creators with powerful computing resources to help them create high-quality 3D graphics and animations. The platform allows people to pool unused computing power, which can then be used by paid creators. The platform uses its own cryptocurrency, RNDR, to reward users who contribute their computing power and to facilitate transactions within the network. With applications in fields such as gaming, virtual reality, and the metaverse, Render Network makes it easier for artists to create visual content without the need for expensive hardware.
RNDR was trading at $7.92 as of April 20, 2024, down from its recent peak of $13.60 in March.
2. Bitensor (TAO)
Market capitalization: 2.9 billion dollars
Bittensor aims to create a neural internet by revolutionizing the development of machine learning platforms. The project is creating a peer-to-peer marketplace for artificial intelligence where AI models can combine their intelligence, essentially creating a “digital hive mind.” This innovative and decentralized method is designed to enable rapid expansion and sharing of knowledge between AI systems.
As of April 2024, TAO was trading at $442, down from its recent peak of $676 earlier in the month.
3. The graph (TSL)
Market capitalization: 2.46 billion dollars
The Graph is a protocol for indexing and querying data from blockchains in a similar way to how Google indexes and queries data from websites. Indexing blockchain data can be challenging, but The Graph aims to change that by organizing data into smaller “subgraphs.”
He is native, Cryptocurrency based on EthereumGRT, was trading at US$0.26 as of April 20, 2024, down from a peak of US$2.34 in February 2021.
4. Theta Network (THETA)
Market capitalization: 2 billion dollars
Theta Network is a decentralized blockchain platform that combines Theta Blockchain and Theta Edge Network to provide an infrastructure for artificial intelligence, media and entertainment applications. Theta Blockchain supports smart contracts and is compatible with Ethereum Virtual Machine (EVM), while Theta Edge Network offers distributed GPU computing power for various tasks. Theta uses a dual token system, with THETA as the governance token and TFUEL as the operational token. The platform is supported by a network of enterprise validators and partners from the technology and entertainment industries.
As of April 20, 2024, one THETA token was trading at $2.08 and the operating token of the TFUEL project was at $0.087.
5. Recover AI (FET)
Market capitalization: 1.8 billion dollars
Fetch.ai is a blockchain-based artificial intelligence and machine learning platform. Fetch.ai is focused on automating business tasks such as data processing and trading. Its native cryptocurrency, FET, is used to pay for transactions on the network. Fetch.ai recently proposed a merger with SingularityNET and Ocean Protocol, which is currently in the approval process. The three-way merger has been dubbed the “Artificial Superintelligence Alliance,” and if it goes ahead, tokens from all three projects will be merged under the single “ASI” token.
As of April 20, 2024, FET was valued at $2.16, down from a peak of $3.47 last month.
6. SingularityNET (AGIX)
Market capitalization: 1.13 billion dollars
SingularityNET is a blockchain platform that allows anyone to create, share and monetize artificial intelligence services. It features an internal marketplace where users can browse and pay for AI services in the platform’s native cryptocurrency: AGIX.
Developers can earn money from AI solutions and models without having to fully create and develop apps for end users. Likewise, developers can purchase AI solutions and models to use in their applications.
SingularityNET is part of the proposed three-way “Artificial Superintelligence Merger” merger with Fetch.ai and Ocean Protocol.
AGIX was worth $0.88 as of April 20, 2024. In January 2018, AGIX had peaked at $1.85.
7. Akash Network (AKT)
Market capitalization: $902 million dollars
Akash Network is a decentralized cloud computing platform that uses blockchain technology to create a marketplace for buying and selling idle computing resources. The platform aims to provide a cheaper and more flexible alternative to traditional centralized cloud providers. Users can deploy and manage applications on the decentralized network, with transactions facilitated by the native AKT token. The token also serves to reward network participants and govern the platform.
AKT was worth $3.86 as of April 20, 2024, down from a peak of $8.08 in 2021.
8. Echelon Prime (PRIME)
Market capitalization: 699 million dollars
Echelon Prime is a gaming ecosystem that integrates blockchain technology and artificial intelligence to enhance the gaming experience. The platform supports game development studios and projects by providing the tools and infrastructure needed to incorporate AI-based features and blockchain-based token incentives into their games. One of the key games within the Echelon Prime ecosystem is “Colony,” which heavily utilizes AI agents in various aspects of the game, creating a unique and dynamic gameplay environment.
Echelon Prime’s native token, PRIME, is used for token incentives and governance voting within the ecosystem, allowing players to have a say in the development and direction of AI-powered games like “Colony.” PRIME was worth $19.54 as of April 20, 2024, down from a peak of $28.08 last month.
9. AIOZ Network (AIOZ)
Market capitalization: 189 million dollars
AIOZ Network is a blockchain created to be a complete infrastructure solution for Web3 storage, decentralized artificial intelligence and content distribution. The blockchain is interoperable with both Ethereum and Cosmos-based blockchains. The goal of the project is to create a content delivery network, which is a set of geographically dispersed servers that work together to provide Internet users with a seamless experience when accessing digital content.
AIOZ’s price was $0.17 as of January 3, 2024, down from its April 2021 all-time high of $2.17.
10. Ocean Protocol (Ocean)
Market capitalization: 300 million dollars
Ocean Protocol is an Ethereum-based platform that allows businesses and individuals to exchange and monetize data and data-driven services. This could involve making the data available to researchers and startups without the data being handed over by the data owners.
Ocean trades at $0.52 as of January 3, 2024, down from its April 2021 peak of $1.94.