Coinranking
| # | Coins | Price | 24h | ||
|---|---|---|---|---|---|
| | |||||
| | 251 |  | $ | -2.04%  | |
| | 252 |  | $ | -1.15%  | |
| | 253 |  | $ | -6.31%  | |
| | 254 |  | $ | +0.41%  | |
| | 255 |  | $ | +2.82%  | |
| | 256 |  | $ | -0.32%  | |
| | 257 |  | $ | -2.05%  | |
| | 258 |  | $ | +2.28%  | |
| | 259 |  | $ | -0.56%  | |
| | 260 |  | $ | -6.55%  | |
| | 261 |  | $ | -9.51%  | |
| | 262 |  | $ | -2.39%  | |
| | 263 |  | $ | -22.58%  | |
| | 264 |  | $ | +0.23%  | |
| | 265 |  | $ | +10.61%  | |
| | 266 |  | $ | -0.75%  | |
| | 267 |  | $ | -18.63%  | |
| | 268 |  | $ | -5.51%  | |
| | 269 |  | $ | +11.25%  | |
| | 270 |  | $ | +12.98%  | |
| | 271 |  | $ | +3.38%  | |
| | 272 |  | $ | -5.35%  | |
| | 273 |  | $ | -6.23%  | |
| | 274 |  | $ | -8.06%  | |
| | 275 |  | $ | -3.00%  | |
| | 276 |  | $ | +0.00%  | |
| | 277 |  | $ | -13.28%  | |
| | 278 |  | $ | +37.50%  | |
| | 279 |  | $ | -25.57%  | |
| | 280 |  | $ | -12.94%  | |
| | 281 |  | $ | +12.91%  | |
| | 282 |  | $ | -4.54%  | |
| | 283 |  | $ | -9.47%  | |
| | 284 |  | $ | +12.03%  | |
| | 285 |  | $ | -5.43%  | |
| | 286 |  | $ | -5.01%  | |
| | 287 |  | $ | -4.83%  | |
| | 288 |  | $ | -3.20%  | |
| | 289 |  | $ | -1.05%  | |
| | 290 |  | $ | -10.39%  | |
| | 291 |  | $ | -15.04%  | |
| | 292 |  | $ | -0.91%  | |
| | 293 |  | $ | +1.75%  | |
| | 294 |  | $ | -3.18%  | |
| | 295 |  | $ | +0.00%  | |
| | 296 |  | $ | +6.52%  | |
| | 297 |  | $ | +7.89%  | |
| | 298 |  | $ | -30.08%  | |
| | 299 |  | $ | -20.82%  | |
| | 300 |  | $ | -10.26%  | |
Top gainers
| Coins | Price | 24h | |||
|---|---|---|---|---|---|
| |  | $ | +127.73%  | ||
| |  | $ | +19.00%  | ||
| |  | $ | +7.95%  | ||
| |  | $ | +6.63%  | ||
| |  | $ | +6.22%  | ||
| All gainers | |||||
What is an AI token?
The last few years have witnessed a significant surge in interest in artificial intelligence (AI). This breakthrough technology holds immense potential to revolutionize a range of industries, including the crypto industry. AI is increasingly viewed as a critical component of new financial and social ecosystems, including decentralized finance (DeFi) initiatives.
Given this growing interest, it's no surprise that many new cryptocurrency projects are integrating AI into their operations. In this article, we delve deeper into the concept of AI tokens and highlight a few popular examples.
What are AI tokens?
In essence, AI tokens refer to cryptocurrencies that incorporate AI technology to enhance various aspects of their functionality, such as security, user experience, scalability, and more.
AI can be trained to automate and increase trust and efficiency in various crypto systems. Additionally, AI tokens can be digital currencies specifically created to support AI-based applications or projects, such as decentralized marketplaces or exchanges, image or text generation services, AI-driven investment protocols, and so on.
The ChatGPT hype
ChatGPT has become a sensation across various domains, including the crypto world, business, and education, since its release in mid-2020. Its popularity soared in late 2022, and the chatbot, developed by OpenAI, is designed to simulate human-like text and perform various language-related tasks, such as processing information and answering questions.
ChatGPT has immense potential to revolutionize the crypto industry, as Justin Sun, the creator of the Tron blockchain and token, has proposed an AI-based decentralized payment framework supporting the chatbot. Moreover, ChatGPT's sudden rise to fame has piqued the interest of investors and non-crypto enthusiasts in the potential of AI technology. The recent announcement by Microsoft of a $10 billion investment in OpenAI has further boosted interest in the chatbot.
Some AI tokens experienced significant gains of over 75% in late 2022, and these gains have continued to accumulate for a few select tokens. Although the total market value of all AI tokens was about $1.6 billion as of early Feb. 2023, this figure is rising quickly, primarily due to institutional investor investments in AI.
Quick facts
- Cryptocurrency tokens that drive or are driven by artificial intelligence projects, products, and services are known as AI tokens.
- The popularity of ChatGPT in late 2022 resulted in a significant increase in the value of AI tokens, with some coins more than doubling in just a few weeks.
- As of February 2023, the collective market value of all AI tokens was approximately $1.6 billion.
- FET, AGIX, and ALI are among the most prominent AI tokens in the market.
AI tokens you should know about
Although AI tokens are gaining momentum, they still face various challenges, such as regulatory uncertainty surrounding the cryptocurrency market, competition from other AI projects and digital tokens, and a lack of public understanding about the intricacies of many AI-based projects, which can be quite complex.
As of February 2023, the market value of all AI tokens was roughly $1.6 billion. However, AI tokens have several advantages, such as inherent decentralization and security achieved by blockchain networks and limitless potential for new applications and use cases.
Below are some AI tokens that have benefitted from the recent surge in interest, including ChatGPT.
AGIX
Today, AGIX is one of the most sought-after AI tokens. It is the token that powers the SingularityNET decentralized platform, which offers an open-source blockchain market for buying and selling various AI-related products and services. One distinctive feature of this platform is that it facilitates the exchange of models, data, and other tools utilized in AI training. SingularityNET is a platform powered by and engineered to enhance AI.
FET
The Fetch.ai system utilizes FET as its primary currency. Fetch is a decentralized platform designed for creating smart and autonomous software and tools that enable the deployment of data analytics, decision-making, and prediction bots.
NMR
NMR is a token affiliated with the Numerai decentralized hedge fund that utilizes AI technology. Numerai serves as a prototype for the application of artificial intelligence in investment decision-making. It employs a global pool of data scientists' predictions to evaluate potential investments. Contributors of accurate forecasts to these predictions are compensated with NMR tokens.
ALI
Artificial Liquid Intelligence, abbreviated as ALI, is a token that fuels the Alethea image generator. Alethea leverages AI technology to produce images using input from users. Alethea is especially renowned for its CharacterGPT, an AI protocol that utilizes textual descriptions to create interactive AI-based characters. ALI tokens serve a crucial role in the creation of character NFTs and also facilitate upgrades, incentives, and transactions within the platform.
Hera
The Hera token is associated with the Pathfinder algorithm, which helps users in the DeFi ecosystem identify the most efficient and profitable trading routes on decentralized exchanges. This is achieved through the use of machine learning algorithms that analyze important metrics such as prices, liquidity, and trading volumes. Holders of Hera tokens are able to take part in governance for the project and receive a share of the protocol revenue.
Benefits of AI tokens
AI tokens have become increasingly popular due to the numerous benefits they offer. One of the main advantages is increased efficiency, as AI technology enables projects to unlock more efficient product solutions and improve existing ones. The Graph protocol is a good example of how AI is used to index blockchain data on Ethereum and Avalanche blockchain, enabling users to access and extract data more efficiently.
AI tokens can also improve security features by detecting malicious activities on blockchain networks. Smart contract optimization is one example of this, with AI used to spot vulnerabilities and fraudulent activities through large-scale data analysis. Lastly, AI tokens can potentially lead to improved returns on investments, with highly diversified or concentrated portfolios being made possible. With an increase in trust in AI technology, we can expect more projects and tokens leveraging AI in their products.
Final thoughts on AI tokens
It's uncertain whether AI tokens will become the next big trend in crypto investments, but they have the potential. Projects leveraging AI technology could attract investors due to their efficiency, security features, and potential for improved investment returns.
AI applications in the Metaverse are also possible, such as AI image generator projects creating NFTs as playable characters in Metaverse games. AI has the potential to significantly impact cryptocurrencies by improving security and scalability.
AI-powered platforms like Fetch.AI could revolutionize blockchain interactions. As more Web3 projects continue to use AI in unique ways, investors may take more interest in these tokens. However, investors should conduct their own research and due diligence before investing in any token.