As we enter 2023, the world of cryptocurrency is buzzing with the potential of AI-powered blockchain projects. These unique digital currencies combine the power of artificial intelligence with the security of blockchain technology, offering innovative solutions and new opportunities for investors. In this article, we’ll explore the top blockchain AI coins to keep an eye on this year.

Key Takeaways

• AI and blockchain together create powerful new tools for finance and technology.
• Investing in AI coins can be risky but also offers high potential rewards.
• The Graph, Fetch.ai, and SingularityNET are leading projects in this space.
• Ocean Protocol and Render Token are revolutionizing data sharing and computing.
• Filecoin and Chainlink are essential for decentralized storage and oracles.

1. The Graph

The Graph is a decentralized, open-source indexing protocol that collects, processes, and stores data from various blockchain networks. It functions similarly to a web browser, allowing users to explore different blockchain ecosystems and their respective decentralized applications (dApps). The Graph supports multiple languages, making it accessible to a global audience.

One of the standout features of The Graph is its use of Subgraphs. These are custom APIs designed to enhance data querying across several networks, including EVM-compatible blockchains and the InterPlanetary File System (IPFS). Subgraphs can index all public information globally, bridging the gap between Web2 and Web3. This data can be stored, organized, and shared across applications, making it accessible for anyone to query. Users pay for these services using the protocol’s native coin, GRT.

The Graph has seen significant growth recently. In Q4 2023, the query volume increased by 65%, reaching nearly 1 billion queries. This surge is partly driven by the expanding AI sector and the integration of The Graph with other blockchain projects like Moonriver and Arweave. Additionally, The Graph Foundation has allocated over $1.5 million to its Wave3 grant project to support ecosystem development.

The Graph was founded in 2018 by Yaniv Tal, Brandon Ramirez, and Jannis Pohlmann. Before founding The Graph, Tal and Ramirez worked together at MuleSoft, a company specializing in enterprise integration, which was later acquired by Salesforce.

Notable Milestones

• The Graph recently expanded to decentralized AI, creating Agentc, a ChatGPT-like tool with open-source code.
• It released the Sunrise Upgrade Program, allowing users to perform certain tasks and earn GRT as a reward.

Funding

The Graph has secured significant funding over the years:

Date	Amount	Type
July 2020	$5.2 million	Seed Round
Oct 2020	$12 million	Public Token Sale
Jan 2019	Undisclosed	Seed Round
Feb 2022	$205 million	Ecosystem Fund Raise

The Graph’s advancements position it as a critical infrastructure provider in the Web3 space, with strong growth potential moving into 2024.

2. Fetch.ai

Fetch.ai is a standout in the world of AI and blockchain, founded in 2017 by Humayun Sheikh, Toby Simpson, and Thomas Hain. The platform is known for its autonomous economic agents that can perform various tasks, such as processing data among IoT devices and executing crypto transactions. These agents operate on Fetch.ai’s unique blockchain, which uses a mixed consensus of Proof-of-Work (PoW) and Proof-of-Stake (PoS).

Key Features

• Autonomous Agents: These can be devices, services, or individuals capable of performing tasks like data processing and crypto transactions.
• Mixed Consensus: Combines PoW and PoS, where miners validate transactions and agents earn fees for AI-related tasks.
• Open Economic Framework (OEF): An AI-driven layer that stores information for agents, rewarding nodes with FET tokens for facilitating interactions.

Notable Milestones

• Superintelligence Alliance: Partnered with SingularityNET and Ocean Protocol to form the ASI Alliance, merging their tokens into ASI.
• DeltaV Launch: Simplifies complex tasks through AI-powered chat interfaces, enhancing user experiences.
• Funding: Raised over $115.9 million, including $40 million from DWF Labs in early 2024.
• Market Leader: Became the largest crypto AI token by market capitalization by early 2024.

Fetch.ai is revolutionizing the digital economy by merging AI with blockchain technology, offering efficient, personalized, and autonomous solutions across various industries.

3. SingularityNET

SingularityNET is a decentralized platform for AI services, founded by Dr. Ben Goertzel. It allows developers and organizations to create, share, and monetize AI technologies at scale. The platform aims to democratize AI by providing an open and decentralized marketplace where users can access a wide range of AI algorithms, services, and agents. The native token, AGIX, is used for transactions within the network, facilitating the exchange of AI services and incentivizing contributions to the ecosystem.

In August 2024, SingularityNET announced a significant $53 million investment to advance its capabilities in Artificial General Intelligence (AGI) and Artificial Superintelligence (ASI) by developing the world’s first modular supercomputer. This investment includes building high-performance computing (HPC) and AI data centers with advanced GPUs and CPUs from top-tier companies like NVIDIA, AMD, Tenstorrent, ASUS, and GIGABYTE. This supercomputer is designed to support the training of deep neural networks and large language models, enhancing the platform’s ability to deliver cutting-edge AI applications efficiently.

Additionally, SingularityNET hosted an AMA (Ask Me Anything) session on August 7, 2024, focusing on collaborative governance for AI and AGI. This event aimed to explore various approaches to public and institutional participation in AI governance, emphasizing the importance of ethical and democratic development of AI technologies.

The $53 million investment significantly bolsters SingularityNET’s infrastructure, positioning it as a leader in the AI and blockchain sectors. By developing a modular supercomputer, SingularityNET enhances its capability to perform complex AI computations, making its platform more attractive to developers and enterprises. This move is expected to increase the platform’s adoption and utility, driving up the value of the AGIX token and fostering innovation in decentralized AI services.

4. Ocean Protocol

Ocean Protocol is a decentralized platform designed to create a data economy by enabling secure and transparent sharing of data between providers and consumers. Using blockchain technology, Ocean Protocol ensures that data providers maintain control over how their data is used and who can access it. Data consumers are incentivized to purchase and use the data through the platform’s native utility token, OCEAN. This token acts as a medium of value transfer within the ecosystem, promoting data exchange and monetization.

As of August 2024, Ocean Protocol has experienced notable trading activity, with a 24-hour trading volume reaching $2.50 million. Despite this positive trading volume, the token’s price saw a 4.2% decline against the U.S. dollar over the same period. This fluctuation in price and volume can be attributed to various market dynamics and investor sentiment.

Another significant development for Ocean Protocol is the launch of Data Farming (DF) Round 101. This program rewards participants with OCEAN tokens for making accurate predictions via the Ocean Predictoor platform, an AI-powered prediction tool for crypto prices. This initiative aims to increase user engagement and data utilization on the platform, thereby strengthening its data economy.

The high trading volume demonstrates strong market interest in Ocean Protocol, which is an important factor for liquidity and price stability. The launch of Data Farming Round 101 enhances the platform’s value proposition by incentivizing data scientists to contribute high-quality predictions, fostering a more robust and active community.

5. Render Token

Render Token (RENDER) is a decentralized network that transforms the power of GPU compute into a distributed economy of connected 3D assets. Created by OTOY, Inc., and launched in 2017, Render Token allows users to contribute unused GPU power from their devices in exchange for RNDR tokens. These tokens are then used to power complex rendering tasks for various applications, such as visual effects, augmented reality, and scientific research. This decentralized approach democratizes access to high-performance computing resources, making it more affordable and scalable for users worldwide.

One of the most significant recent developments for Render Token is the successful completion of a token swap and rebranding from RNDR to RENDER on Binance. This change, completed in July 2024, involved a 1:1 exchange rate for all RNDR tokens to RENDER tokens. This move aims to streamline the token’s branding and improve its market presence. Binance has opened deposits and withdrawals for the new RENDER tokens and listed multiple trading pairs, including RENDER/BTC, RENDER/USDT, and RENDER/EUR.

This rebranding and token swap are part of a broader strategy to enhance the network’s usability and visibility. By simplifying the token’s identity and aligning it with the broader goals of the Render Network, the platform aims to attract more users and increase its market adoption. This move enhances the token’s market presence, making it more recognizable and easier for users to understand and adopt.

6. Bittensor

Bittensor (TAO) is a decentralized, open-source network designed to create a global marketplace for artificial intelligence. It leverages blockchain technology to facilitate the sharing and development of machine learning models, allowing users to contribute computational resources and expertise in exchange for TAO tokens. Bittensor’s unique approach involves a decentralized mixture of experts (MoE) model, where multiple specialized neural networks collaborate to solve complex problems, achieving higher accuracy and efficiency than traditional centralized models.

If, for example, a company needs a sophisticated AI model to predict stock market trends: traditionally, they might rely on a single AI model, which might have limitations in understanding complex market dynamics. With Bittensor’s decentralized MoE approach, different neural networks, each specialized in various aspects like economic indicators, historical stock data, and global news analysis, collaborate to provide a comprehensive prediction. This collaborative model surpasses the capabilities of individual models, offering more accurate and insightful predictions.

In recent developments, Bittensor’s TAO token has seen a significant price surge, reaching $255, which is 56% above its lowest point this month. This increase is partly due to the growing recognition of Bittensor’s approach to AI and its potential to revolutionize the industry. Additionally, Bittensor faced a security challenge in July 2024 when an attack on several user wallets caused a temporary price drop. And the network quickly and successfully addressed the issue, demonstrating its resilience and commitment to security.

7. Injective Protocol

Injective Protocol (INJ) is a layer 1 blockchain designed for building finance-oriented decentralized applications (dApps) for Web3. It stands out in the blockchain and DeFi landscape by offering a platform optimized for financial applications. Injective boasts high interoperability and features a decentralized order book, enabling developers to create advanced financial applications.

Injective uses the Cosmos SDK and Tendermint consensus, ensuring instant transaction finality and swift cross-chain transactions. This makes it an ideal platform for various DeFi applications, providing unrestricted access to decentralized markets and services. Features like CosmWasm compatibility, bridge, staking, and burn auctions enhance the user experience and capital efficiency on Injective.

In 2024, Injective has continued to innovate with significant upgrades. The Ionic Upgrade, launched recently, enhances interoperability by expanding the Inter-Blockchain Communication (IBC) protocol and integrating new assets through Wormhole 2.0. Additionally, Injective integrated Polygon, boosting its user experience and liquidity. These developments have driven active addresses to rise, indicating growing engagement within the community. With the native INJ token facilitating governance, security, and incentivization, Injective is well-positioned for further growth, making it a notable project in the DeFi space.

8. Oasis Network

Oasis Network is a layer 1 blockchain network that focuses on open finance and a responsible data economy. It allows users to create open finance dApps that emphasize privacy and fairness, giving users control over their data and the opportunity to monetize it.

The network uses a Proof of Stake (PoS) system and has a unique setup that separates its consensus algorithm from smart contract execution. This design helps in building privacy-focused apps at a low cost.

Since the start of 2023, Oasis has been working with AI industry leaders, including Meta, to create a framework for "Responsible AI." This ensures that AI technology develops with principles of privacy, fairness, and transparency.

Oasis Network (ROSE) is the last one on our list of top AI crypto coins to invest in 2024. It is a layer-1 blockchain network that prioritizes privacy and fairness.

Key Features

• Privacy and Fairness: Users have control over their data and can monetize it.
• Unique Architecture: Separates consensus and smart contract execution for low-cost, privacy-focused apps.
• Collaborations: Working with AI leaders like Meta for responsible AI development.

Token Information

• Token: ROSE
• Category: Open Finance and Data Privacy

9. Filecoin

Filecoin is a decentralized data storage marketplace. This peer-to-peer ecosystem allows users to store files securely in a decentralized cloud. It offers a marketplace for storage capacity and data retrieval.

Key Features

• Decentralized Storage: Filecoin provides a transparent and secure environment to store AI datasets.
• Utility Token: The FIL token is used to incentivize storage providers and pay for data storage and retrieval.
• Democratizing AI Economy: While not specifically focused on AI, Filecoin helps democratize the AI economy by offering a secure place to store data.

Benefits

1. Enhanced Data Security: By decentralizing storage, Filecoin enhances data security, making it harder for data breaches to occur.
2. Cost-Effective: Users can choose from various storage providers, ensuring competitive pricing.
3. Scalability: The decentralized nature allows for easy scaling as more storage providers join the network.

Filecoin’s decentralized approach offers a transparent and secure environment for storing AI datasets, which is crucial for the growth of the AI economy.

Use Cases

• AI Dataset Storage: Ideal for storing large AI datasets securely.
• Data Retrieval: Efficient and cost-effective data retrieval options.
• Incentivizing Storage Providers: Encourages more providers to join the network, increasing storage options.

10. Chainlink

Chainlink is the largest decentralized oracle network, enabling blockchain networks to communicate with the outside world. This is crucial because decentralized networks like Ethereum cannot directly access off-chain data and events. Chainlink also supports cross-chain communication, enhancing interoperability across different blockchains.

Key Features

• Decentralized Oracles: Chainlink provides decentralized oracles that fetch and verify real-world data for smart contracts.
• AI Integration: The oracle system can be integrated into various AI use cases, allowing blockchains to access AI datasets through Chainlink functions.
• Market Cap: LINK, Chainlink’s native token, is one of the largest cryptocurrencies, boasting a market cap in the billions.

Benefits

1. Decentralization: Chainlink enhances decentralization by providing reliable data from multiple sources.
2. Trust: It builds trust by ensuring that the data used in smart contracts is accurate and tamper-proof.
3. Efficiency: The network optimizes data processing, making blockchain applications more efficient.

Investing in blockchain AI stocks presents growth potential, but thorough research is essential. Consider technology, market trends, and diversification to manage risks effectively.

Use Cases

• Finance: Chainlink oracles are used to fetch financial data for DeFi applications.
• Supply Chain: They help track goods and verify their authenticity.
• Gaming: Oracles provide real-time data for blockchain-based games.

Conclusion

Chainlink is a key player in the blockchain and AI integration space. Its decentralized oracle network not only enhances blockchain functionality but also opens up new possibilities for AI applications. With a strong market presence and a wide range of use cases, Chainlink is definitely a coin to watch in 2023.

Conclusion

In 2023, the fusion of blockchain and AI is creating a buzz in the tech world. The coins we’ve discussed show how these two powerful technologies can work together to bring new possibilities. While investing in AI coins can be exciting, it’s important to remember that it comes with risks. Always do your homework and understand what you’re getting into. As AI continues to grow and change, these coins could play a big role in the future of digital money. Keep an eye on them, and you might just find the next big thing in crypto!

Frequently Asked Questions

What are blockchain AI coins?

Blockchain AI coins are cryptocurrencies that combine blockchain technology with artificial intelligence. These coins aim to improve various aspects of the crypto world, such as security, data management, and smart contract automation.

Why should I invest in blockchain AI coins?

Investing in blockchain AI coins can be beneficial because they are at the forefront of technological innovation. They offer enhanced security, better data analytics, and the potential for significant returns as AI technology continues to grow.

Are blockchain AI coins risky?

Yes, like all investments, blockchain AI coins come with risks. These include market volatility, regulatory changes, and the experimental nature of many AI projects. It’s essential to do thorough research and consider your risk tolerance before investing.

How do blockchain AI coins improve security?

Blockchain AI coins improve security by using AI to monitor and detect suspicious activities in real-time. They can also enhance the security of smart contracts and provide better authentication methods, like facial recognition or fingerprint scanning.

What is the future of blockchain AI coins?

The future of blockchain AI coins looks promising. As AI technology advances, these coins are expected to play a significant role in various industries, offering innovative solutions and potentially high returns on investment.

Where can I buy blockchain AI coins?

You can buy blockchain AI coins on various cryptocurrency exchanges. To store them securely, you’ll need a self-custody crypto wallet, which can be a mobile app or a browser extension.

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