In 2023, the blend of blockchain and AI is creating some exciting new tools. These tools are not only making blockchain easier to understand but are also pushing the boundaries of AI development. With the upcoming Bitcoin halving and positive regulatory news, next year looks promising for AI-driven blockchain projects. Here are the top 10 blockchain AI tools to keep an eye on in 2023.

Key Takeaways

• SingularityNET, Fetch.AI, and Ocean Protocol are discussing a possible merger to form a ‘Superintelligence Alliance.’
• Many of these top AI blockchain tools offer strong APIs for easy integration with decentralized apps.
• The AI crypto market is valued at over $26 billion as of July 2024.
• The Graph, Injective, and Oasis Network are some of the most popular AI blockchain projects.
• Next year is expected to be a great time for AI-driven blockchain projects due to favorable market conditions.

1. SingularityNET

SingularityNET is a decentralized protocol for accessing a network of AI algorithms, services, and agents. It aims to create a decentralized, democratic, inclusive, and helpful Artificial General Intelligence (AGI). This platform allows anyone to develop, distribute, and sell AI services using blockchain technology.

SingularityNET offers a marketplace for AI products and services. Users can monetize their AI services by putting them up for sale. Interested parties can browse and purchase these services using the AGIX token.

The ecosystem of SingularityNET currently includes 13 elements, each focusing on a different niche. For example, Cogito provides a new class of digital assets known as "tracercoins" that use AI to track synthetic indexes. Another project, Rejuve.AI, is a decentralized network aimed at assisting researchers, clinicians, and data contributors.

SingularityNET raised approximately $36 million in their initial coin offering (ICO) in December 2017. This funding has been crucial for developing their decentralized AI platform.

2. Fetch.AI

Fetch.AI is an Ethereum layer-1 network founded in 2017. It serves as an interchain gateway to the blockchain universe. This network combines artificial intelligence (AI) and blockchain to create a decentralized, permissionless, machine-learning network. Users can link to and access secure and private datasets and perform tasks autonomously.

Fetch.AI aims to build an "internet of things" powered by AI. They envision a decentralized network where AI agents work for you, finding the best deals, optimizing your schedule, or even trading on your behalf. This network runs on the FET cryptocurrency, which is used to pay for AI services and reward those who help the network function. Fetch.AI has partnered with big names like Bosch and Ocean Protocol, showing the potential for real-world adoption of their technology.

The Fetch.AI ecosystem is influenced by multi-agent systems AI, adaptable to multiple stakeholder settings. FET is the native crypto token for users to pay for activities on the Fetch network. Fetch.AI optimizes transportation networks such as parking, DeFi trading services, travel, and smart energy grids. The Fetch protocol will work for any digital system reliant on large-scale datasets.

Fetch.AI is one of the top blockchain AI tools transforming the tech industry. The convergence of AI and blockchain revolutionizes industries, with Fetch.AI leading innovations.

3. Ocean Protocol

Ocean Protocol is an Ethereum-based platform that allows users to exchange and monetize data and data-based services. The main goal of the platform is to create a more efficient AI ecosystem, with data being a key factor.

Ocean Protocol aims to open data to the public, reducing the control of big organizations in the data and AI sectors. By using ERC-20 smart contract tokens, Ocean Protocol can unlock the value of data. It ensures open access to data, data control, and network growth.

Through AI-powered smart contracts, Ocean Protocol lets data suppliers sell specific data directly to consumers. This data can come from many industries, like healthcare, politics, finance, and e-commerce.

Ocean Protocol unlocks access to data that was previously unavailable or hard to get. Anyone with datasets can tokenize their data and make it available on the Ocean Market for others to access reliable data streams and earn income.

Funding

Ocean Protocol has raised more than $5 million in various funding rounds. The total amount raised is about $39.19 million, including both public and private funding rounds. Confirmed investors include Cypher Capital (Dubai), Outlier Ventures, and Cogitent Ventures.

Notable Milestones

Below are some of the most notable milestones for Ocean Protocol in 2024:

• 2017: Founded by Bruce Pon and Trent McConaghy.
• 2020: Launched the Ocean Market.
• 2021: Integrated with multiple blockchain networks.
• 2023: Reached over $39 million in funding.

4. The Graph

The Graph is an indexing protocol that makes it easy for developers to access blockchain data through open APIs called subgraphs. It aims to simplify the retrieval and use of data from various blockchain networks, including Ethereum and IPFS, by decentralized applications (dApps).

One of the key features of The Graph is subgraphs, which are indices designed to enhance data querying for users across several networks. This includes EVM-compatible blockchains and even the InterPlanetary File System (IPFS). Over 3000 subgraphs have been released by developers so far.

The Graph’s mission is to create reliable decentralized public infrastructure for mainstream adoption. To ensure the network’s data integrity and economic security, participants use GRT (the Graph token). This token is "locked up" by delegators, curators, and indexers, who provide curating and indexing services on the Graph network.

The Graph is among the top companies leading the blockchain and AI revolution. It allows users to navigate and explore different blockchain ecosystems and their respective dApps.

5. Injective

Injective is a layer-1 blockchain network designed specifically for decentralized finance (DeFi) applications. It offers a "plug-and-play" financial system, making it easier for users to create and deploy smart contracts. One of its standout features is the integration of AI, which allows for auto-executing smart contracts, streamlining the process of launching decentralized applications (dApps).

Injective supports a variety of financial activities, including token swaps, margin trading, and forex futures trading across multiple blockchains. Its dApps can seamlessly connect with other blockchains like Ethereum, Cosmos, and Solana, enhancing cross-chain interoperability. The ecosystem includes a wide array of dApps, providing users with numerous options.

The native cryptocurrency of Injective is INJ. It is used for governance, validating transactions on the network, and offering incentives for developers.

Injective is one of the top blockchain AI solutions revolutionizing the industry. Its innovative approach to decentralized networks and intelligent contracts has the potential to reshape industries and solve pressing problems.

6. Oasis Network

The Oasis Network is a layer 1 blockchain that focuses on open finance and data privacy. It allows users to create decentralized applications (dApps) that prioritize privacy and fairness. This gives users control over their data and even the chance to make money from 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 makes it possible to run privacy-focused apps at a low cost.

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

The Oasis Network is dedicated to offering a private layer for Web3. With the easy-to-integrate, user-friendly Oasis Privacy Layer, this network adds secrecy to current dApps on any EVM network.

7. Render

Render Token (RNDR) is a decentralized platform that connects users needing rendering tasks with those who have spare GPU capacity. Founded in 2016, Render Token aims to make 3D graphics rendering more accessible and cost-effective. This platform is especially useful for industries like gaming, NFT art, metaverse development, architecture, animation, and interior design.

The way it works is simple: creators submit their rendering jobs, and node operators use their idle GPUs to complete these tasks. In return, they earn RNDR tokens as compensation. This system supports a wide range of tasks, from basic rendering for gaming and entertainment to more complex projects involving AI and machine learning.

Render Network is built on the Ethereum blockchain and aims to decentralize GPU cloud rendering. By leveraging unused computing power from crypto miners, the platform offers a more affordable and faster alternative to traditional centralized options.

Render Token is one of the promising blockchain AI startups to watch in 2023, merging blockchain and AI for industry disruption and investment growth across sectors like fintech, energy, and retail.

8. Cortex

Cortex is a blockchain platform that focuses on integrating machine learning models into the blockchain. This allows developers to create AI-driven applications that can run on a decentralized network. Cortex aims to simplify the process of deploying AI models, making it accessible for both novices and experts.

One of the standout features of Cortex is its weekly predictions module. This tool leverages technical analysis to provide users with insights and forecasts, helping them make informed decisions in the crypto market.

Key Features

• AI Model Training and Deployment: Cortex provides a platform for training and deploying AI models on the blockchain.
• Decentralized Network: Ensures that AI applications run in a decentralized manner, enhancing security and reliability.
• User-Friendly Interface: Simplifies the process for both beginners and experienced users.

Market Position

Cortex has a market cap of $27 million, making it a notable player in the blockchain AI space. Its focus on integrating machine learning with blockchain technology sets it apart from other platforms.

Cortex is revolutionizing the way AI models are deployed and utilized in the blockchain ecosystem, making advanced technology accessible to a broader audience.

9. Bittensor

Bittensor is changing the game in AI by using blockchain technology and cryptographic incentives. This approach helps coordinate the training and deployment of AI models. By using a decentralized network of nodes, Bittensor allows for the collaborative development of AI models. This reduces barriers to entry and promotes innovation in artificial intelligence.

Key Features

• Decentralized Marketplace: Bittensor is a marketplace where anyone can buy or sell machine learning models. This makes it easier for businesses to find AI solutions.
• Collaborative Development: Smaller teams and individuals can contribute to AI innovation, leading to a wider range of solutions.
• Cryptographic Incentives: These incentives help in coordinating the training and deployment of AI models.

Founders

• Jacob Steeves: With a background in Mathematics and Computer Science from Simon Fraser University, Jacob has also worked as a Software Engineer at Google.
• Ala Shaabana: Ala holds a PhD in Computer Science from McMaster University and has served as an Assistant Professor at the University of Toronto.

Bittensor has amassed a $10 billion AI ecosystem since its launch in March 2023. Institutional validators, such as DCG subsidiary Foundry and Polychain, have shown significant interest.

Token Information

• Token: TAO
• Category: AI Blockchain

10. Numeraire

Numeraire is an Ethereum-based platform that allows developers and data scientists to showcase more reliable machine-learning models. This AI crypto project is known as the first hedge fund to launch cryptocurrency and use machine learning in its investment strategy. It relies heavily on data and predictions generated by participants in the Numerai Tournament. Numeraire rewards these participants with NMR tokens, the native currency of the platform.

Numeraire is unique because it crowdsources artificial intelligence to invest in major stock markets worldwide. The platform’s native token, NMR, is used to reward data scientists whose models perform well in the Numerai tournament. As more people join and compete, the token’s value increases.

Key Features

• Ethereum-based: Runs on the Ethereum blockchain.
• Crowdsourced AI: Utilizes AI models from participants.
• NMR Tokens: Rewards participants with native tokens.

Founders

Richard Craib is the CEO and founder of Numerai. He was recognized in Forbes 30 under 30 for his contributions to the field.

Future Prospects

The price prediction of Numeraire (NMR) for 2024-2030 is based on its price history, important news, and fundamental reasons for the asset to grow or fall.

Conclusion

As we move forward, the blend of AI and blockchain is set to bring about exciting changes. These technologies help each other grow, making it easier to understand and use blockchain while giving AI more room to improve. The tools we talked about still have a lot of potential to grow. With the upcoming Bitcoin halving and possible positive changes in crypto rules, 2024 could be a great year for these AI-driven blockchain projects. Keep an eye on them, as they might lead to some amazing new products and advancements.

Frequently Asked Questions

What is SingularityNET?

SingularityNET is a platform that allows anyone to create, share, and monetize AI technologies at scale. It aims to make AI accessible and beneficial for all.

What is Fetch.AI used for?

Fetch.AI is designed to connect devices and services to the internet, using AI to enable them to work together without human intervention.

How does Ocean Protocol work?

Ocean Protocol is a decentralized data exchange protocol that lets people share and monetize data securely while keeping control over their information.

What is The Graph?

The Graph is a decentralized indexing protocol that makes it easy to search for data across various blockchains, much like how search engines index the web.

What makes Injective unique?

Injective is a decentralized exchange protocol that offers fast, secure, and fully decentralized trading. It supports a wide range of financial products.

Why is Oasis Network important?

Oasis Network focuses on privacy and scalability in blockchain. It aims to provide a secure platform for decentralized applications while protecting user data.

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