One of the most fascinating features of the era we live in is the simultaneous occurrence of two major revolutionary technologies, one is artificial ielligence and the other is digital currencies. These two technologies are changing many aspects of our lives and we all, sooner or later, have to keep up with them.
The story becomes more ieresting when artificial ielligence and digital currencies are iegrated with each other and we can benefit from the features of both of them together. Currely, there are several projects that work both in the field of artificial ielligence and deal with digital currencies, and soon we will see an increase in their number.
There are some other AI coins that do not directly deal with artificial ielligence, but operate in the same field. In this article, we will first iroduce some artificial ielligence digital currencies that are higher than their couerparts in terms of market value, and then we will examine some of the most promine AI digital currencies that are indirectly related to artificial ielligence.
Note: The information about the digital currencies iroduced in this article is for informational purposes only, and the AruzDigital website does not provide any advice for investing in these projects.
What do we know about artificial ielligence digital currencies?
Artificial ielligence (AI) is a branch of computer science that allows machines to make decisions based on data and mimic human ielligence. For example, ChatGPT is a chatbot that can talk to a human user, answer their questions, receive a text from them and write a summary, and this is just a part of its couless capabilities.
Another example is artworks produced with artificial ielligence, in which a program receives and ierprets information from the user that is written in natural language, and based on that, creates digital artworks. The uses of artificial ielligence are endless, and for this reason, this technology has made its way io the digital currency space as well.
On the other hand, digital currencies have features such as being deceralized, not being stored in traditional financial institutions, not requiring iermediaries such as banks and third-party payme service providers, which can help in the field of artificial ielligence so that this field is not monopolized by a few and powerful.
Therefore, digital currencies in the field of AI are coins or tokens that blockchain platforms in the field of artificial ielligence use to perform various activities. Users can pay their native token to use the features and benefits of artificial ielligence platforms and projects.
The most valuable digital currencies in the field of artificial ielligence
Now that we are familiar with artificial ielligence digital currencies, let’s examine some of the most valuable AI digital currencies in terms of their market cap.
1. The Graph
- Market cap: $1.02 billion
- Coin rank in Coin Market Cap: 42
- Curre price: $0.117
Graph is an open source protocol based on distributed ledger technology that enables the collection of blockchain data in a deceralized manner without the need for a third party. This protocol provides a universal API for indexing, organizing and querying data that anyone can easily access. In fact, Graph does the same thing for Web 3.0 as Google did for Web 2.0.
Graph uses the GraphQL programming language. The Graph mainnet currely hosts hundreds of deceralized applications (dApps) and this can be challenging. Graph has solved this problem by providing open and public APIs called subgraphs so that thousands of deceralized applications can run on the network. Developers and participas can use subgraphs by building them for various deceralized applications as well as for searching, indexing, and data collection. In April 2021 alone, the Graph hosting service processed 20 billion searches.
Who are Team Graff?
The founders of Graff are Yanif Tal, Brandon Ramirez and Janice Palman and launched this project in 2018. Tal knew how difficult it was to create new deceralized applications on Ethereum. In this way, with the help of his team, he created Graph with the idea of designing and launching the first indexing and querying program in a deceralized way, because at that time there was nothing similar in the market. The main graph network was launched in 2020.
Graph native token
The native graph token is called GRT. The project raised $12 million from its public token sale and another million dollars from a private sale to Coinbase Veures, Digital Currency Group, and Framework Veures. Apart from these, Multicoin Capital has also invested 2.5 million dollars in this digital currency. The native currency of this network is used to allocate various resources used in the graph ecosystem. Users can pay for using network services with graph tokens.
Tocnomics graph
The initial supply of Graph token was 10 billion units and new tokens were created as a reward for index makers. Graph token distribution is as follows: 16.5% for initial network backers, 23.2% for team and advisors, 20% for Graph Foundation, 6.1% for GRT sales, 3% for rewarding test network indexers, 2.99% for help Finances have been allocated to curators and the rest to other departmes.
Graph uses a token withdrawal tax that Graph collects from its operators and burns the 1% fee it receives from queries io the protocol. Of course, Tokonomic Graph is subject to its technical governance in the future, and therefore these perceages may change. This means that whether or not the graph is bloated in the future will depend on the number of requests it processes.
Why is the graph unique?
The graph is the first of its kind and thus enjoys a first-mover advaage, which is sure to have a big impact on its price. The ultimate goal of this project is to make Web 3.0 accessible to everyone and enable the creation of deceralized applications without the need for a ceralized server or reference.
2. SingularityNET
- Market cap: $299 million
- Coin rank in Coin Market Cap: 108
- Curre price: $0.247
SingularityNet is a deceralized artificial ielligence marketplace that uses the power of blockchain technology to provide unlimited access to algorithms and programs. This project was among the first to iegrate artificial ielligence and digital currency. Using the power of blockchain, the SingularityNet platform seeks to democratize artificial ielligence and provide a collaborative environme where developers can learn from each other and build better systems. This platform is hosted on Ethereum and Cardano blockchains.
Currely, there are more than 70 useful AI services available on the SingularityNet Marketplace, created by developers around the world. These services include multilingual speech translator, insta voice simulator, speech command recognition, neural image generation, and so on.
Singularity Net’s user-friendly ierface makes these services accessible to everyone, regardless of their knowledge of the space. Most of the services have a demo feature, which means that users can test the features of the service before purchasing it.
Who are the SingularityNet team?
The SingularityNet platform was launched by Dr. Ben Goertzel and Dr. David Hansen in 2017. Hanson is also the founder and CEO of Hanson Robotics, which created the humanoid robot Sophia; The famous robot that iroduced the world to the power of artificial ielligence for the first time.
SingularityNet’s native token
The native token of SingularityNet network is called AGIX. The use of this token is to pay for the use of artificial ielligence services and products in its market, perform ira-platform transactions, vote on proposed governance plans and stake to increase liquidity. This token is of ERC-20 type, and developers can use their funds in other Ethereum-based deceralized applications or convert it to real-world fiat currency.
The AGIX token was initially reserved only for the Ethereum blockchain; But now it can be used for more than a few blockchains. Holders of this token can use it for transactions on Polygon, Cardano and Binance Smart Chain blockchains.
Tokonomics SingularityNet
The distribution of SingularityNet tokens is as follows: 50% for sales, 20% for early adopter rewards, developers and coributors, 18% for core team, 8% for SingularityNet Foundation and 4% for charitable programs.
Initially, the token of this project was called AGI and its maximum supply was 1 billion units. In 2021, they changed the name of the token to AGIX to be compatible with the Cardano network. Therefore, they created an additional billion units for the Cardano blockchain. As a result, the AGIX token supply cap is currely 2 billion units.
Why is SingularityNet unique?
The main goal of this project is to create artificial general ielligence (AGI) with extensive capabilities, and it was one of the first projects to iegrate artificial ielligence with digital currencies. The project was to create a platform for users and developers and create a mutually beneficial environme that accelerates the growth of artificial ielligence. AGI systems act like humans; That is, they can perform a wide range of tasks and even adapt to new tasks. They have innate learning capabilities, meaning they can improve their abilities without human help.
Another feature of this project is its expert team in the field of artificial ielligence.
3. Fetch.ai
- Market cap: $252 million
- Coin rank in Coin Market Cap: 137
- Curre price: $0.242
Fetch is an open-access blockchain-based AI and machine learning deceralized network created with the idea of providing a platform for the growth and developme of the digital economy without human ierveion. This network connects devices and services to the Iernet of Things, but also facilitates the participation of other ages such as humans.
Fetch has the right tools and infrastructure to support the developme of a deceralized digital economy based on artificial ielligence. By connecting people, devices and services, this network enables data sharing and collaboration between them. Fetch economy is a combination of suppliers and consumers and revolves around differe ages and ecosystems with differe purposes and use cases.
Who are team Fetch?
The founders of Fetch are Toby Simpson, Homayun Sheikh and Thomas Hein. This team from the University of Cambridge, England started working together and in 2017, they laid the foundations of Fetch. Sheikh is the managing director, Simpson is the executive director and Hein is the chief scieific officer.
Fetch native token
Fetch’s native token is FET, which is used for voting, activating nodes, staking, rewarding them, and unlocking all operations on the network. It also serves as the primary payme method on the network. The value of the Fech native token will be determined by the amou of its uses in the future.
Tokonomic Fach
The number of Fetch tokens in circulation is more than 1 billion units. The supply of Fetch is limited and this helps to make it scarce and thus preve the tokens from devaluing due to inflation.
Fetch tokens will be distributed as follows: 20% to the company, 20% to the founders, 17.6% to sales, and the rest will be allocated to future plans, consultas and the like.
Why is Fetch unique?
This project is unique thanks to the innovative combination of differe technologies and due to the multiple use cases with artificial ielligence capability. Fetch is one of the rare blockchain-based projects that uses artificial ielligence to improve networked digital economy solutions. The ultimate goal of this project is to help optimize smart cities, supply chain, transportation, smart parking, energy, smart homes and cumulative learning.
4. Ocean Protocol
- Market cap: $202 million
- Coin rank in Coin Market Cap: 141
- Curre price: $0.329
Ocean Protocol uses blockchain technology to monetize data services. This protocol connects data providers and data consumers in a blockchain-based marketplace. Its innovative model relies on the tokenization of data sets and data services so that people who operate in this field can easily earn money from their data and consumers can access an ecosystem of valuable data in a convenie place.
Who are Team Ocean?
Ocean Protocol was launched by Tre McConaughey and Bruce Poon in 2017. McConaughey is an artificial ielligence researcher, and Bruce Poon previously worked at a software company working on blockchain databases.
The native token of Ocean Protocol
The native token of Ocean is the OCEAN protocol, which is a type of ERC-20 token. This token is also used to provide platform exchanges, Ocean community governance, and staking rewards to network participas.
Tokonomic Ocean Protocol
The ceiling of Ocean Protocol token supply is 1.41 billion units. Its distribution is as follows: 20% founders, 15% buyers, 5% Ocean Foundation and 60% network maienance operators.
Why is Ocean Protocol unique?
So far, no project has been created that considers data as a financial asset and helps to monetize it. Ocean Protocol is a platform that takes a unique approach to data, allowing individuals and businesses to monetize their data in a secure and efficie manner. The goal of Ocean Protocol is to enable data analysts, researchers, scieists and other consumers to benefit from data that is difficult or expensive to access. The project offers specific benefits for data-driven industries, including artificial ielligence. Another positive poi of Ocean Protocol is its team, which has a lot of experience in big data and artificial ielligence.
5. iExec project
- Market cap: $122 million
- Coin rank in Coin Market Cap: 180
- Curre price: $1.51
iExec is a blockchain project that offers a wide range of cloud computing services similar to Amazon Web Services and Microsoft Azure, except that it is more deceralized. iExec’s growing ecosystem supports various applications in areas such as artificial ielligence, deceralized finance (DeFi) and healthcare. The project is coinuously developing new protocols to simplify access to the deceralized computing economy.
Who is the iExec team?
Gilles Fedak and Haiwu He are the founders of the iExec project. Apart from these two people, a significa number of blockchain engineers and Java developers work in this team.
Native iExec token
The token of this project is RLC, which is a type of ERC-20 token. All transactions of the platform’s deceralized cloud markets are settled with its native token, and participas must stake this token to be eligible to perform computational tasks.
Tokonomics iExec
The total token supply is 87 million units and 69% of these tokens were sold as part of the initial coin offering in a public sale. The rest of the tokens are distributed as follows: 17.2% will be for the iExec team and advisors, 6.9% for the emergency fund for iExec, and 6.9% for the coinued developme of iExec. During this distribution mechanism, all tokens have already been distributed and no new tokens will be mied or issued. The only way to obtain its native token is to buy it on the open market, earn rewards on iExec markets, or offer liquidity for the token on a deceralized exchange that supports the token’s currency pairs.
Why is iExec unique?
iExec runs on the Ethereum network. While many of the deceralized applications and smart coracts supported by iExec are resource-iensive, this protocol performs processing-iensive computations off-chain to keep its operations as simple as possible. The ultimate goal of this project is to transform legacy Web 2-based systems io a one-stop source for blockchain-based cloud computing.
6. Numeraire
- Market cap: 84 million dollars
- Coin rank in Coin Market Cap: 276
- Curre price: $13.50
The Nomirer project is a blockchain-based software that acts as a hedge fund and, by combining the inceive system and artificial ielligence, machine learning, cryptography and data science, provides users with the possibility of predicting stock prices and trading them on the Ethereum blockchain. . The project holds weekly tournames where participas make their predictions of the price and stake on it.
Who are the Numerer team?
The founder of this project is Richard Cribb. He founded this project in 2015. From 2016 to 2020, the project held four separate funding rounds and raised more than $21 million in total.
Numeraire native token
The native token of Nomirer platform is NMR and is an ERC-20 token. This token is used as a means of payme and sharing results based on market predictions. The reward of the winning participas of the weekly tournames is also paid with this token.
Numrayer relies on the Erasure protocol to ensure that users are inceivized to stake their native tokens. This protocol rewards the user if he stakes his tokens on the correct outcome based on the chosen prediction model, and otherwise, the protocol destroys his staked tokens.
Tocnomic numeraire
Numray has a supply cap of 11 million units and since its supply is limited like Bitcoin, it will be ai-inflationary. Currely, more than 6 million tokens are in circulation out of a total of 11 million tokens.
In 2017, the company issued and distributed 1 million native tokens to data scieists who had already participated in the tourname.
Why is Numrayer unique?
The idea behind Nomirer is completely unique and is the first digital currency created and issued by a hedge fund. One of the main benefits of the platform’s native token is that it pays data scieists who prese high-performance models in the tourname. Therefore, as more people eer the tourname, the token becomes more valuable.
The main goal of this project is to enable users to trade stocks through an automated model based on artificial ielligence, machine learning, data science and cryptography. The project’s innovative approach to equity trading makes Nomrayer one of the few hedge funds that relies significaly on predictive data generated by artificial ielligence.
Digital currencies related to artificial ielligence
There are a series of other digital currencies that cannot be considered as AI coins directly; But their activity is somehow related to artificial ielligence. These projects can be successful in terms of their market value and future, and for this reason, we iend to iroduce them in this section.
1. Radar Token
- Market cap: about 4 million dollars
- Coin rank in Coin Market Cap: 3300
- Curre price: $0.0070
DeepRadar is a platform for searching deceralized applications. The project aims to cover more programs, be faster in listing emerging projects, and provide more timely and accurate listings.
The native token of this project is called RADAR, and holders of this token can participate in list manageme, voting, suggestions, and product decisions.
The distribution of this token is as follows:
40% of the community, 25.2% of the team and shareholders, 24.7% of the treasury and 10% of the airdrop.
Radar currely supports more than 9,000 deceralized applications, more than 30 protocols, and more than one million mohly users worldwide.
2. Injective
- Market cap: 483 million dollars
- Coin rank in Coin Market Cap: 80
- Curre price: $6.03
Injective is a blockchain for finance. This blockchain is open and ieroperable and aims to power the next generation of DeFi applications, including deceralized insta and derivative transactions, prediction markets, lending protocols, and the like.
Injective provides a very powerful financial infrastructure that applications can use. All types of financial markets including spot, futures and options are completely on-chain. These infrastructures bridge deceralized chains and are compatible with Ethereum, IBC blockchains, and even chains like Solana that don’t use the Ethereum virtual machine.
The Injective ecosystem has over 100 projects and over 150,000 community members from around the world. The project is backed by a group of promine investors including Binance, Paera Capital, Jump Crypto and Mark Cuban.
The founder of this project is Eric Chen, a researcher and trader of digital currencies. Albert Chon is the chief technology manager of Injective Labs. He graduated in computer science from Stanford University and was a software developme engineer at Amazon.
The native injective token is called INJ. Its maximum supply is 100 million units and its curre circulating supply is around 80 million units.
The INJ token is used for fees and ecosystem enhanceme, protocol governance and staking inceives. This token has a fully diminishing supply, as 60% of all deceralized application fees built on Inject are auctioned every week, thus reducing the supply of INJ over time.
3. Oasis Network
- Market cap: 300 million dollars
- Coin rank in Coin Market Cap: 105
- Curre price: $0.052
Oasis is considered to be the leading first layer blockchain network with the ability to maiain privacy and scalability. The system combines high throughput and low gas costs with a secure architecture to help develop the next generation of Web 3.0 foundations and power DeFi, GameFi, Non-Property Tokens (NFT), Metaverse, Data Tokenization, and DAOs.
Oasis Network’s native token is ROSE. Its curre supply is 1.5 billion units and its total supply will be 10 billion units. Token distribution is done as follows: 23.5% for stake rewards, 23% for supporters, 5% for strategic partners, 18.5% for community and ecosystem, 10% for Oasis Foundation and 20% for core network coributors. Shareholders and ages will be rewarded for securing the network automatically within 10 years. The use of this token is for transaction fees, staking and represeation in the consensus layer. By staking this token, users can coribute to the security of its blockchain network and receive up to 20% reward.
Dawn Song is the founder of Oasis Network, who launched this project in 2018. The developme team of this project have all graduated from prestigious universities in the world or have worked in large institutions and organizations such as Amazon.
4. Origirail
- Market cap: $115 million
- Coin rank in Coin Market Cap: 242
- Curre price: $0.29
Origin Trail is a web 3.0 infrastructure project that combines knowledge graph and blockchain technologies to create a neutral and inclusive ecosystem. This network is open source and does not require permission, which increases its transparency and security. Origin Trail’s deceralized knowledge graph runs on three blockchains: Ethereum, Polygon, and Gnosis.
The founders of Origin Trail are Tomaž Levak, Žiga Drev and Branimir Rakić. They started this project in 2011, and in 2013, they founded Trace Labs. Origin Trail was officially launched in 2018.
The Origin Trail network has two tokens, TRAC and OTP. The TRAC token is functional and designed based on the ERC-20 standard. Its total supply is 500 million units and therefore it is considered ai-inflationary. The value of this token will depend on its use and market acceptance. In-network fees are paid with this token. Allocation of this token is done as follows: 35% to the token sale, 20% to the founders and team, 10% to the advisors and early supporters, 15% to the future developme fund, 10% to the ecosystem and 10% to the reserve for legal eities that is locked uil January 2025.
The OTP token is a token designed to support the Origin Trail ecosystem, and its total supply is 1 billion units. From the curre 500 million distributed units, 20% is allocated to the ecosystem developme fund, 15% to the team and participas, 10% to TRAC investors as an airdrop, and 5% to the knowledge graph nodes.
Origin Trail’s main goal is to create ieroperability, ieroperability, iegration, and motivation for coributors to use this project in industries such as DeFi, real-world asset collateral, metaverse, Iernet of Things, and so on.
Conclusion
Digital currencies in the field of AI are currencies that combine the two transformative technologies of artificial ielligence and digital currencies. The most importa goal of digital currencies of artificial ielligence is to iroduce the deceralization feature and without the need for iermediaries of digital currencies and blockchain io the field of artificial ielligence and on the other hand, to benefit from the benefits of artificial ielligence in the blockchain industry. In this article, we reviewed some of the most promine AI coins and iroduced a number of others that work indirectly in the field of artificial ielligence.
Iroducing the projects meioned in this article is not a recommendation for investme. As always, when investing in any cryptocurrency or project, do your own thorough research and only invest an amou that you won’t be in trouble if you lose it.
