Artificial Intelligence (AI) and blockchain technology have taken the world by storm in recent years. Both of these cutting-edge innovations are transforming various industries and opening up new possibilities for the future.
In the world of crypto, there are many tokens that are leveraging the power of AI to create innovative solutions. In this blog post, we will take a look at the top 6 AI tokens in the crypto space that are making waves and shaping the future.
From decentralized AI platforms to AI-powered prediction markets, these tokens are pushing the boundaries of what is possible with AI and blockchain technology.
List of Top 6 AI Tokens in Crypto Space
The following are the top 6 AI-focused tokens in the cryptocurrency market:
- Fetch.ai (FET): AI Token for Decentralized Marketplace
- SingularityNET (AGIX): AI Platform for Decentralized Creators
- Ocean Protocol (OCEAN): Secure Data transfer provider
- Numeraire (NMR): AI-Based Stock Market prediction
- iExec RLC (RLC): Big data Analytics Platform
- Oraichain (ORAI): AI Layer 1 for Data Economy and Oracle services
1. Fetch.ai (FET)
- FET Market Cap: $438 million
- Website URL: Fetch.ai
Fetch.ai (FET) is a cryptocurrency that operates on the Ethereum blockchain. It aims to build a decentralized artificial intelligence (AI) powered marketplace.
The platform makes it easy for individuals and businesses to monetize their data. They can connect with AI-powered agents to perform tasks such as data analysis, prediction-making, and problem-solving.
Fetch.ai’s token, FET, is used as a means of payment and incentivization within the network. The goal of the project is to create an open, decentralized, and secure platform.
It can be used by a wide range of stakeholders, from individuals to large corporations, to interact with AI-powered agents and participate in the digital economy.
2. SingularityNET (AGIX)
- AGIX Market Cap: $670 million
- Website URL: SingularityNET AI
SingularityNET is a decentralized platform powered by blockchain technology that provides a marketplace for AI services. The platform allows anyone to create, share and monetize their AI services through a global network.
It aims to make AI more accessible and democratized by enabling developers and organizations to buy and sell AI services in a secure and transparent manner. The platform operates on the AGIX token, which is used as the primary means of exchange on the network.
SingularityNET aims to be the go-to platform for AI services and solutions by providing a single, decentralized network that connects AI developers, businesses, and end-users.
The platform provides an easy-to-use interface for developers and businesses to find and access the AI services they need. AI services are available on the network range from simple image recognition to complex natural language processing and machine learning. Developers can monetize their AI services by setting prices and receiving payment in AGIX tokens.
3. Ocean Protocol (OCEAN)
- OCEAN Market Cap: $328 million
- Website URL: Ocean Protocol
Ocean Protocol is a decentralized data exchange platform designed to provide secure and transparent access to data. It aims to solve the challenges faced in the current data economy, such as data silos, control over data ownership, privacy concerns, and difficulties in monetizing data.
The platform uses blockchain technology to create a secure and transparent environment for data transactions. This means that all data transactions on Ocean Protocol are recorded on a public ledger and can be audited, providing accountability and security.
The use of blockchain technology also eliminates the need for a central authority or middleman to manage data transactions, making the platform more decentralized and secure.
Ocean Protocol also integrates AI to facilitate the discovery and sharing of data. The platform uses machine learning algorithms to match data providers and consumers, ensuring that data is exchanged efficiently and effectively. This enables data providers to monetize their data and data consumers to access the data they need in a more streamlined manner.
Smart contracts are also used on the Ocean Protocol platform to automate the exchange of data. This means that data transactions can be executed automatically, reducing the risk of errors or fraud and ensuring that data usage is in line with the terms agreed upon by the data provider.
Ocean Protocol has its own native cryptocurrency, OCEAN, which is used to incentivize and compensate network participants for providing and using data. Data providers can earn OCEAN tokens by sharing their data on the platform, while data consumers can use OCEAN tokens to access data and pay for data services.
This creates a self-sustaining ecosystem in which data providers are incentivized to share their data and data consumers are incentivized to access and use it.
4. Numeraire (NMR)
- NMR Market Cap: $140 million
- Website URL: Numeraire.ai
Numeraire (NMR) is a unique cryptocurrency in that it is tied to the performance of a hedge fund. Numerai is a hedge fund that uses artificial intelligence and machine learning algorithms to make investment decisions.
The fund was created to solve the problem of “overfitting” in machine learning models, where a model that has been trained on too much data becomes too specialized and performs poorly on new data. Numerai combines the predictions of many data scientists to create a more robust and generalizable model.
The Numerai tournament is a key component of the Numerai platform. Data scientists can submit their models to the tournament and earn NMR tokens as a reward for their contributions.
The tournament provides a way for Numerai to receive predictions from a large number of models, which is used to inform its investment decisions. The more accurate a data scientist’s predictions are, the more NMR tokens they will receive.
Numerai’s use of artificial intelligence and machine learning, combined with its incentivization model, has resulted in a large and active community of data scientists who are contributing to the platform. This has led to the creation of a hedge fund that is highly diversified and capable of making investment decisions based on a large amount of data.
5. iExec RLC (RLC)
- RLC Market Cap: $181 million
- Website URL: iExec RLC
iExec RLC (RLC) is an AI cryptocurrency token and platform for decentralized applications. It is designed to support applications in fields such as big data, healthcare, AI, rendering, and fintech.
The iExec platform provides a secure, scalable, and decentralized environment for running applications, and the RLC token is used as the currency for transactions and access to resources on the platform.
The platform leverages blockchain technology and smart contracts to create a marketplace for computing resources, allowing users to rent computing power, storage, and bandwidth from other users.
6. Oraichain (ORAI)
- ORAI Market Cap: $24 million
- Website URL: Oraichain
Oraichain (ORAI) is a blockchain-based platform that aims to provide AI-powered oracle services for the data economy. An oracle is a middleman that finds and verifies real-world data and brings it onto the blockchain, allowing smart contracts to access external information.
Oraichain intends to leverage AI to improve the accuracy, efficiency, and speed of this process.
By using Oraichain, developers can build decentralized applications that can access real-world data, such as market data, financial data, and data from IoT devices, among others. The platform also provides data privacy and security features, allowing data owners to control who has access to their data and how it is used.
ORAI is the native token of the Oraichain platform and is used for incentivizing the participation of nodes in the network and for paying transaction fees.
Must Read: Top ZK-Rollup Projects in crypto in 2023
How to Buy AI Tokens on Bybit Exchange?
Here are the steps to buy AI tokens on Bybit Exchange:
- Create an account on Bybit: Go to the Bybit website and sign up for a new account. Verify your email and complete the KYC process as required.
- Fund your account: Log in to your Bybit account and deposit funds into your account using one of the available methods such as crypto transfer or bank transfer.
- Search for AI tokens: Look for the AI token you want to buy in the trading pair list, or use the search bar to find it.
- Place a buy order: Once you have found the AI token, click on the trading pair to go to the order book. Then, choose “Buy” and enter the amount of AI tokens you want to purchase. You can choose to place a limit order or a market order.
- Confirm the order: Review your order details and make sure everything is correct before confirming the trade.
- Monitor your investment: After your order has been executed, you can monitor your investment in your Bybit account under the “Positions” tab.
How are AI, Crypto, and Web3 Related?
AI, Crypto, and Web3 are all interrelated and part of the same technological ecosystem. AI provides the computational power to process vast amounts of data and drive decision-making processes, while crypto provides secure and transparent transaction processing through the use of blockchain technology.
Web3 refers to the next iteration of the internet, where users have more control over their data and interactions are more decentralized. Together, AI, Crypto, and Web3 are transforming the way we think about technology and the internet, enabling new forms of collaboration and value exchange in a secure, decentralized manner.
Conclusion
In conclusion, the world of cryptocurrency is constantly evolving and the integration of artificial intelligence technology has led to the creation of several AI tokens.
The top six AI tokens, as discussed in this article, are SingularityNET, Ocean Protocol, FET, Oraichain, Numerai, and iExec RLC (RLC). Each of these tokens has its strengths and weaknesses and it is important to carefully research and assess them before making any investment decisions.
With the increasing demand for AI solutions in various industries, the future of AI tokens looks promising.
Happy Trading!
