Artificial intelligence (AI) is one of the most disruptive and promising technologies of our time. Its application in various fields, such as medicine, education, security, entertainment and commerce, is transforming the world and generating new business and innovation opportunities.
The cryptocurrency sector is no stranger to this trend. More and more projects use AI to improve their services, optimize their processes, offer personalized solutions and create value for their users and communities.
At the moment The fledgling sector of cryptocurrencies based on AI and Big Data, reaches a market capitalization of USD 4.5 billion according to data from Coinmarketcap, with more than 170 projects framed in this market niche.
Market Capitalization of AI & Big Data Tokens according to data from CoinMarketCap
Given the growing adoption that AI is having together with blockchain technology, we want to present you with five crypto projects that combine the use of AI as the basis of their technology together with the blockchain, and that you should take into account in 2023 due to its great potential for growth, impact and adoption.
1.- SingularityNET (AGIX): It is a decentralized platform that allows anyone to create, share, and monetize AI services. Their goal is to create a global network of artificial intelligences that can collaborate and exchange information and value.
Its native token, AGIX, is used to pay for AI services and govern the platform. According to Coinmarketcap data, the AGIX token is trading at the time of writing at a price of USD 0.2215 per unit, with an increase in the last 24 hours of 9.21%.
AGIX/USD daily chart – Source: Coinmarketcap
The AGIX token has a market capitalization of just over 270 million dollars, which until now has kept it anchored to the penultimate position of the top 100 ranking of crypto projects.
Despite the recent popularity of AI-focused projects, Singularity is an early adopter of the mixed AI-blockchain approach in 2018, the year in which its AGIX token hit an all-time high price of $1.86. per unit, 88% more than its current value.
So far in 2023, AGIX token shows a cumulative return of 388%after a price change of USD 0.048 to a current price of USD 0.219 in just 167 days.
AGIX/USDT 1D Chart – Source: TradingView
2.- Ocean Protocol (OCEAN): It is a protocol that facilitates the access, exchange and monetization of data. His vision is to create an open and decentralized data marketplace that drives innovation and democratization of AI.
Its native token, OCEAN, is used to buy and sell data and to reward data providers and consumers.
OCEAN is currently trading at an average price of USD 0.3337 per unit, with a slight contraction of -0.74% in the last 24 hours. OCEAN is located in box number 136 of the general ranking of cryptocurrencies, with a market capitalization of approximately USD 205 million, according to data from Coin360.
Ocean Protocol Metrics – Source: Coin360
Although the project was launched in 2017, it reached its peak of popularity two years ago, when its token peaked in April 2021, hitting $1.9413 per unit, which is roughly 83% higher than its price. current.
So far in 2023, the performance of the OCEAN token has followed the trend set by Bitcoin and the rest of the market, experiencing a growth of 106.37% in the 167 days elapsed so far.
OCEAN/USDT daily chart – Source: TradingView
3.- Fetch.ai (FET): It is a project that combines AI, machine learning and blockchain technology to create an intelligent and autonomous ecosystem. Its purpose is to connect intelligent agents that can represent people, IoT devices or companies, and that can learn, cooperate and negotiate with each other.
Its native token, FET, is used to fuel the network and to access AI services. Currently, FET is trading at a price of USD 0.1979, showing a positive performance in the last 24 hours with an increase of +6.38%. This has led its market capitalization to exceed $162 million, placing it in 144th place in the general ranking of cryptocurrencies, according to Coinmarketcap data.
Fetch.ai Metrics – Source: Coinmarketcap
Launched in 2017 in the United Kingdom, the project reached its climax in September 2021 when its token registered its highest price of all time, reaching USD 1,189 for each FET, which represents an increase of 83.43%.
So far this year, the FET token has experienced a 114.69% increase in its price. At the beginning of the year, it was trading at USD 0.0919 per unit, and currently its price stands at USD 0.1978 per unit.
FET/USDT daily chart – Source: TradingView
4.- Numeraire (NMR): It is a project that uses AI to improve financial analysis and market prediction. His platform, Numerai, is a hedge fund run by a network of data scientists who compete against each other to create the best predictive models.
Its native token, NMR, is used to incentivize participants and measure their performance. Currently, the price is trading in the band of twelve dollars per unit, with a positive performance of three percentage points in the last 24 hours.
Numeraire Metrics – Source: Coin360
NMR is one of the few tokens from projects focused on artificial intelligence that has a fairly low supply compared to the rest of the other projects on the market, with barely 11 million units, of which more than 50% are already in circulation.
However, despite its low circulation, the price has fallen below the closing price at the beginning of 2023, registering a slight contraction of -2.17% this year.
NMR/USDT daily chart – Source: TradingView
5.- Render Network (RNDR): Render Network is the leading provider of GPU-based decentralized rendering solutions, revolutionizing the digital creation process. The Render Network creates a much more efficient, powerful, and widely scalable rendering network.
They were recently named at Apple’s latest Worldwide Developers Conference (WWDC) where the Vision Pro viewer was unveiled, leaving open the possibility of possible use of its GPU-intensive rendering network, through a partnership with Octane X. , whose CEO founded the Render Network in 2016.
Your RNDR token is the primary token used on the Render Network to exchange rendering and streaming services via the Octane Render Cloud (ORC) Network, where RNDR tokens are stored.
RNDR is currently trading at a price of two dollars per unit, with an increase of six percentage points in the last 24 hours, which has boosted its market capitalization to 736 million dollars to position itself in box 51 of the general ranking of cryptocurrencies.
Render Token Metrics – Source: Coinmarketcap
In this 2023, the RNDR token has had a positive performance of 388.51% in the 167 days that have elapsed of the yearafter having a price change of USD 0.409 at the beginning of the year at the current price.
RNDR/USDT daily chart – Source: Coinmarketcap
final thoughts
These are just a few examples of the many projects that are harnessing the power of AI and cryptocurrency to create a smarter and more inclusive future. These projects aim to provide a more efficient and secure way to harness the power of AI, but focused on a decentralized perspective that is achieved through the use of blockchain technology.
With both technologies still at an early stage, the future looks bright for the different projects focused on generating solid use cases by combining the best of AI and Blockchain.
The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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