The Rise of Artificial Intelligence Coins

The rise of AI coins

On November 30th, the OpenAI research laboratory unveiled its latest creation: the ChatGPT artificial intelligence model. With the powerful Transformer algorithm at its core, this neural network boasts an impressive ability to comprehend textual queries. It can also generate responses based on an immense data bank. ChatGPT is loaded with potential and its primary aim is to foster seamless communication between humans and machines.

Impressively, ChatGPT sparked an unprecedented surge of interest in “artificial intelligence,” despite its longstanding existence. Within a week of its launch, the neural network had over a million users. Within two months, more than 100 million people used the technology. This explosive surge made ChatGPT the fastest-growing internet service in history, outpacing TikTok, which took nine months to reach 100 million users, and Instagram, which took 2.5 years.

Charting the growth of platforms reaching one million users

In 2022, the global artificial intelligence market was estimated at $119.78 billion. Precedence Research forecasts that by 2030 it is expected to reach $1,591.03 billion.

Indeed, the increasing use of digital technologies across industries has created fertile ground for artificial intelligence market growth. To stay ahead of the competition, major technology players such as Google, Microsoft, IBM, Amazon, and Apple are pouring in more investments to improve and develop diverse AI applications. 

AI market size: a global perspective

The future is predicted to see successful artificial intelligence integration with blockchain. As a result, the excitement generated by ChatGPT has resulted in a rise in tokens that are associated with AI. The graph illustrates the leading 8 coins in the AI & Big Data category by market capitalization. All tokens have experienced significant growth since January 1, 2023

The leading AI-based cryptocurrencies. Source: TradingView

AI-powered crypto: Top-5 coins leading the pack

1. The Graph

The Graph is a decentralized protocol designed to facilitate indexing and querying of Web3. It works by analyzing and collating data from blockchains and organizing it into different indexes, also known as subgraphs. This enables applications to send requests to the relevant protocol and receive instant responses. 

With the continued expansion and relevance of Web3, it is essential to have the capability of indexing and querying blockchain data in a decentralized manner. Developers have stated that public access to global open data should be a shared asset, rather than an exclusive privilege. 

The Graph

Currently, the Graph facilitates the indexing of data from more than 39 distinct networks, including Ethereum, NEAR, Arbitrum, Optimism, Polygon, Avalanche, Celo, Fantom, Moonbeam, IPFS, Cosmos Hub, and PoA. The hosted service has over 63,000 subgraphs deployed as of today. Thousands of developers utilize The Graph for various applications such as Uniswap, Synthetix, KnownOrigin, Art Blocks, Gnosis, Balancer, Livepeer, DAOstack, Audius, Decentraland, and others.

The Graph uses its own cryptocurrency called GRT to ensure data integrity within its network. GRT, which is based on artificial intelligence, is currently the largest token by market capitalization in the AI & Big Data category, according to Coinmarketcap.

GRT reached its highest price of $2.88 on February 12, 2021. From January 1, 2023 to February 7, 2023, the token grew +332%.

GRT/USDT 1d chart

2. SingularityNET 

SingularityNET is a decentralized platform that offers a gateway to artificial intelligence's future. With a team that has already made waves in the field with their work on the groundbreaking humanoid robot “Sophia,” the platform is poised to revolutionize the industry by enabling the creation, sharing, and monetization of cutting-edge AI-based services. SingularityNET partners with some of the biggest names in AI and robotics, such as Hanson Robotics, Ocean Protocol, Swae, and Epik Protocol. And to top it all off, they've joined forces with the world-renowned blockchain, Cardano.

SingularityNET

AGIX is the lifeblood of the SingularityNET platform. By staking AGIX, users actively support the network's functionality and play a critical role in ensuring smooth and seamless transactions on the AI Marketplace. Moreover, staking AGIX also empowers companies to enter the market using fiat gateways. Stakers are rewarded for their contribution with additional tokens. 

From January 1, 2023, to February 8, 2023, the token exhibited a remarkable surge of +1445% in value.

AGIX/USDT 1d chart. Source:TradingView

3. Fetch.AI

Fetch.AI is a decentralized infrastructure that unites artificial intelligence and blockchain technologies to create autonomous economic agents. Agents, powered by AI, can solve a wide range of user problems while interacting with each other, trading, and collaborating on the Fetch.AI network. The platform has the potential to link Internet of Things technologies and algorithms for training.

Fetch.AI aims to shake up the business world by unleashing cutting-edge technologies such as AI, Web3, and multi-agent systems..

Fetch.AI

FET token serves as the primary exchange method in the Fetch.ai ecosystem. Agents use it to finance certain network functions and it is a crucial tool for incentivizing good behavior. Think of it as a digital carrot that motivates agents to work together and achieve their common goals while keeping the network humming.

The token experienced a +590% surge from January 1 to February 8. FET's all-time high was recorded on September 8, 2021, at $1.1985

FET/USDT 1d chart. Source:TradingView

4. Oasis Network

Oasis Network – is a blockchain platform that prioritizes privacy in the world of Web3. By incorporating the Oasis Privacy Layer, this network enables dApps in any EVM network to operate with enhanced privacy features. What's more, Oasis Network achieves scalability through its innovative consensus and execution splitting approach, which allows multiple ParaTimes to process transactions simultaneously without slowing down the more complex ones. 

Artificial intelligence has the potential to be a revolutionary tool, but if not handled properly, it could turn into a real Frankenstein's monster. To prevent any bias or invasion of privacy, the Oasis Network is stepping up to the plate with its powerful privacy infrastructure, making sure that AI systems are well-behaved and don't wreak havoc on society.

Oasis Network

ROSE is used as the native cryptocurrency of the Oasis Network, serving as a utility token to facilitate various network functions such as staking, transaction fees, and consensus delegation.  

On January 15, 2022, ROSE reached its all-time high of $0.598. From January 1 to February 16, the token saw growth of 157%.

ROSE/USDT 1d chart. Source:tradingview

5. Ocean Protocol

Ocean Protocol is a decentralized platform that creates a secure and transparent data exchange marketplace. The platform leverages artificial intelligence as a key component of its infrastructure.

Ocean Protocol's vision is to establish an open and equitable ecosystem that enables individuals and organizations to effortlessly access and trade their data, harnessing its power for machine learning and other AI applications. The platform allows users to securely sell and monetize their data, while its Compute-to-Data technology ensures privacy and control.

Ocean Protocol

OCEAN – is an ERC-20 token that provides access to data and services on the Ocean Protocol platform. The token is used as a means of payment and as a tool to incentivize network activity, such as providing computational resources or data.

From January 1 to February 7, OCEAN token experienced impressive 265% growth, while its highest recorded price was on April 10, 2021, at $1.9414.

OCEAN/USDT 1d chart. Источник:tradingview

To wrap things up

Artificial intelligence has the power to revolutionize our daily lives by liberating us from tedious tasks and enabling us to concentrate on more meaningful endeavors. The combination of AI and blockchain opens up new possibilities for scaling networks and creating decentralized applications.

The world is witnessing a rapid increase in the adoption of AI technology, and it is expected to transform various industries, including finance, healthcare, education, and more. With the rise of Web3 and blockchain technology, AI-powered decentralized applications could become the norm, leading to a new wave of innovation and investment. As a result, there is growing interest in AI-related tokens, and they may play a crucial role in the future of the blockchain ecosystem. 

We have witnessed ICO, NFT, and meme-token crazes on the cryptocurrency market. Is the next one going to be the AI boom?