Tech
Top 10 Artificial Intelligence (AI) Cryptocurrencies – Forbes Advisor Australia
AI cryptocurrencies are tokens that power AI blockchain platforms like The Graph and SingularityNET. Users spend tokens to use the platforms and the benefits of their built-in AI.
We looked at the top 10 AI projects by market cap, analyzing how AI is being implemented and the unique value it brings to each platform.
1. Fetch.AI (FET)
Market capitalization: 4.4 billion US dollars
Fetch.ai is a blockchain-based artificial intelligence and machine learning platform. Fetch.ai is about 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 amalgamated under a single “ASI” token.
As of June 8, 2024, FET was valued at US$1.77, down from its peak of US$3.47 in March.
2. Make (RNDR)
Market capitalization: 3.5 billion US dollars
Render Network is a decentralized platform that connects artists and creators with powerful computing resources to help them create high-quality animations and 3D graphics. The platform allows people to pool unused computing power, which can then be used by creators for a fee. The platform uses its own cryptocurrency, RNDR, to reward users for contributing computing power and to facilitate transactions within the network. With applications in fields such as gaming, virtual reality, and the metaverse, Render Network is making it easier for artists to create visual content without the need for expensive hardware.
As of June 8, 2024, RNDR was trading at US$9.25, down from its recent high of US$13.60 in March.
3. Bittensor (TAO)
Market capitalization: 2.55 billion US 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 AI where AI models can combine their intelligence, essentially creating a “digital hive mind.” This innovative, decentralized method is designed to enable rapid expansion and sharing of knowledge between AI systems.
As of June 8, 2024, TAO was trading at $371, down from its recent high of $676 reached in early April.
4. The graph (GRT)
Market capitalization: 2.5 billion US 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 AI where AI models can combine their
The Graph is a protocol for indexing and querying data from blockchains similar 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.”
His native, Cryptocurrency based on EthereumGRT, was trading at $0.26 USD on June 8, 2024, down from its peak of $2.34 USD recorded in February 2021.
5. Theta Network (THETA)
Market capitalization: 1.9 billion US dollars
Theta Network is a decentralized blockchain platform that combines Theta Blockchain and Theta Edge Network to provide infrastructure for AI, media, and entertainment applications. Theta Blockchain supports smart contracts and is compatible with Ethereum Virtual Machine (EVM), while Theta Edge Network provides distributed GPU processing 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 June 8, 2024, one THETA token was trading at US$1.94, and the project’s operating token, TFUEL, was at US$0.089.
6. Akash Network (AKT)
Market capitalization: 970 million US dollars
Akash Network is a decentralized cloud computing platform that uses blockchain technology to create a marketplace for buying and selling unused computing resources. The platform aims to provide a more cost-effective and flexible alternative to traditional centralized cloud service providers. Users can deploy and manage applications on the decentralized network, with transactions facilitated by the native token, AKT. The token also serves to reward network participants and govern the platform.
On June 8, 2024, AKT was worth US$4.06, down from its 2021 peak of US$8.08.
7. SingularityNET (AGIX)
Market capitalization: 960 million US dollars
SingularityNET is a Blockchain platform that allows anyone to create, share, and monetize AI services. It has 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 develop and build end-user apps. Similarly, developers can purchase AI solutions and models to use in their applications.
SingularityNET is part of the proposed tripartite “Artificial Superintelligence Merger” with Fetch.ai and Ocean Protocol.
On June 8, 2024, AGIX was worth US$0.75. In January 2018, AGIX peaked at US$1.85.
8. AIOZ Network (AIOZ)
Market capitalization: 746 million US dollars
AIOZ Network is a blockchain designed to be a complete infrastructure solution for Web3 storage, decentralized AI, and content distribution. The blockchain is interoperable with Ethereum and Cosmos-based blockchains. The goal of the project is to create a content distribution 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 price was $0.67 US on June 8, 2024, down from its all-time high of $2.17 US recorded in April 2021.
9. Prime Echelon (PRIME)
Market capitalization: 534 million US dollars
Echelon Prime is a gaming ecosystem that integrates blockchain technology and AI 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 extensively uses AI agents in various aspects of gameplay, creating a unique and dynamic gaming 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-based games like “Colony.” PRIME was worth $14.66 USD as of June 8, 2024, down from a peak of $28.08 USD in March.
10. Ocean Protocol (Ocean)
Market capitalization: 432 million US dollars
Ocean Protocol is an Ethereum-based platform that allows companies and individuals to exchange and monetize data and data-driven services. This could involve making data available to researchers and startups without the data being handed over by data holders.
Ocean is trading at US$0.75 as of June 8, 2024, down from its peak of US$1.94 in April 2021