Can AI crypto projects make you rich?
Many AI crypto projects have tantalised investors, but are they any good?
Here we take a look at the top five, as defined by market capitalisation.
From newcomers to established names, these are projects that harness the potential of artificial intelligence in the cryptocurrency world, enhancing financial transactions, optimising supply chains, and reshaping how we interact with technology.
Whether you are an established crypto trader or an inquisitive newcomer, this list is a starting point for your exploration of AI crypto projects. But be warned, there are no guarantees of successful investing in cryptocurrencies, so do your own research before risking your money, and only invest what you can afford to lose.
AI crypto project marketcap
Our list features the leading AI crypto projects according to marketcap, as reported by CoinMarketCap.
Marketcap doesn’t mean much on its own. There are other critical factors to consider, including:
- Understanding the core technology underpinning the AI crypto project, appraising the distinctiveness and practicability of the harnessed AI algorithms, and real-world application.
- Examination of the project's personnel, focusing on researchers and developers with a track record in AI and blockchain expertise.
- A critical analysis of the problem targeted by the AI crypto project. This involves gauging the possible scope and demand for the proposed solutions in the marketplace.
- Assessment of the intrinsic utility and operational facets of the token within the ecosystem of the initiative. The token design should seamlessly align with the project's aspirations and confer added value to its user base.
- Exploring the initiative's community and its resonance in the broader user spectrum. Robustly engaged communities often function as a magnet, drawing in support and augmenting user participation.
- Prioritising projects subjected to external security audits, a hallmark of the integrity of smart contracts and codebase, bolstering resilience against vulnerabilities.
- An understanding of the regulatory framework within which the AI crypto venture operates. Adherence to statutory stipulations is pivotal for sustainable success.
- Sufficient trading volume and liquidity are essential requisites to facilitate seamless transactions, counteract price manipulation, and cultivate a thriving marketplace.
- Identification of competitors, juxtaposed against the initiative's distinctive value proposition, as well as a keen eye for strategic alliances and affiliations that propel growth.
Top AI crypto projects
The Graph (GRT)
Envisioned as a decentralised protocol for indexing and querying blockchain data, The Graph furnishes developers with a platform to craft and disseminate open APIs termed 'subgraphs,' thereby enabling universal access to blockchain data. It is relatively new, but has already been embraced by distinguished blockchain ventures like Ethereum, NEAR, and Solana. As blockchain assimilation continues its ascendancy, The Graph stands poised to develop as a formidable force within the decentralised data infrastructure sphere. The native cryptocurrency, GRT, assumes the role of incentivising node operators to index and facilitate data retrieval.
Distinctly calibrated to serve as a foundation for DeFi (Decentralised Finance) applications, Injective Protocol has a plethora of features that equip it for this purpose, boasting interoperability, scalability, and security. INJ functions as the native token of the Injective Protocol, a blockchain tailored for DeFi applications, rendering them open and interoperable. Spanning exchanges such as Binance, Huobi, and OKEx, the INJ token secures its standing in the crypto sphere.
- Encompasses a diverse array of DeFi applications, spanning decentralised exchanges, margin trading platforms, and lending interfaces.
- Presents a cost-efficient fee structure, bolstering accessibility to DeFi applications.
- Imbued with the robustness of the Tendermint PoS consensus mechanism, a testament to its security.
If you are interested in using DeFi applications, then the Injective Protocol is a good option. It is a secure, scalable, and interoperable platform that offers a wide range of DeFi applications.
Render Token (RNDR)
At present anchored on the Polygon blockchain, the Render Token may be subject to a network migration to Solana, an undertaking poised to enhance the efficiency of the Render Network.
This platform nurtures the production of animation, motion graphics, and visual effects through a collaborative GPU rendering infrastructure, which channels idle GPU resources into rendering tasks.
Functioning as an ERC-20 token, RNDR occupies the role of utility token, servicing payment obligations for rendering services on the Render Network. The engagement with RNDR tokens for task remuneration furnishes a mechanism wherein users stipulate their willingness to expend RNDR tokens for a given task, matched with a provider amenable to undertaking the task at the specified cost.
A decentralised platform and global AI marketplace that enables anyone to effortlessly “build, share, and monetise” AI services.
Native token AGIX token is used to pay for AI services and AI products on this marketplace, as well as to participate in the governance of the platform. The AGIX token is a valuable asset for anyone who is interested in the future of AI. It is a token that has the potential to appreciate in value as the SingularityNET platform grows and develops.
Oasis Network (ROSE)
A blockchain platform built for DeFi, NFTs, and confidential computing which intends to preserve privacy. Its native token is ROSE.
Key features include:
- Uses a variety of privacy-preserving technologies, such as zk-SNARKs, to allow users to transact and interact with DApps without revealing their personal data.
- Designed to be scalable, with the ability to process thousands of transactions per second. This makes it suitable for DeFi applications that require high throughput.
- Designed to be efficient, with low gas fees. This makes it affordable for users to participate in DeFi applications.
- Secured by a Proof-of-Stake consensus mechanism. This assists in making it resistant to attack and ensures that the network is fair and decentralised.
The Oasis Network is still under development, but it has the potential to be a major player in the DeFi space. Its privacy-preserving features make it ideal for applications that require sensitive data, such as healthcare and financial services.
Author: Brendan Beeken
Moni Talks Founder and Chairman Brendan Beeken is an entrepreneur, commercial strategist, investor, and philanthropist. He writes on a wide range of subjects, including cryptocurrency, decentralised finance, blockchain, business advice, and professional wellbeing, for news and business websites, as well as Latest Moni and his personal site, brendanbeeken.com. Brendan draws from his own research and more than two decades of personal experience in business to offer a unique insight, perspective, and commentary on diverse subjects. He is passionate about making the cryptocurrency space more accessible and encouraging safer and more responsible trading and investing. Brendan's LinkTree is https://linktr.ee/brendanbeeken.