AI crypto projects are a hot topic in the crypto space, and for a good reason. With the integration of Artificial Intelligence (AI) with blockchain technology, there are some exciting projects in the works. 2023 and the future holds massive potential for AI based crypto projects.
In this article, RR² Capital explores some of the top AI cryptocurrency projects you should keep an eye on in 2023.
What Is Artificial Intelligence?
Artificial Intelligence (AI) is an area of computer science that focuses on creating intelligent machines that can perform tasks that typically require human intelligence. AI systems use algorithms to learn from data and improve their performance over time. There are many different types of AI, and its applications span across various industries.
What Is AI Crypto?
Artificial Intelligence (AI) crypto is a new type of digital asset that combines the power of AI with blockchain technology. With the recent developments in AI technology, including the release of Open AI’s ChatGPT in November 2023, the use of AI in crypto projects has grown tremendously. The combination of AI and crypto has the potential to revolutionize the finance world by providing greater efficiency, security, and transparency.
These projects utilize various AI technologies, including machine learning, natural language processing, and computer vision to automate processes, analyze large amounts of data, and provide insights. Some examples of the use of Artificial Intelligence in crypto include smart contracts, decentralized exchanges, prediction markets, and fraud detection systems.
The goal of AI crypto projects is to improve the speed and accuracy of transactions, reduce costs, enhance security, and provide users with more personalized and relevant experiences. As the technology continues to evolve, the potential for AI crypto projects is vast. AI is expected to play a significant role in shaping the future of crypto.
The Top AI Crypto Projects For 2023
There are various types of AI crypto projects, each with their own unique features and use cases. Here we dive into some of the best, and most popular Artificial Intelligence projects you should know about.
The Graph (GRT)
The Graph (GRT) is a decentralized indexing protocol built on the Ethereum blockchain for querying data from other blockchain networks. The project’s main goal is to make blockchain data more accessible and useful for developers by providing a decentralized infrastructure for building and running decentralized applications (dApps).
The Graph uses subgraphs to organize and index data. Subgraphs are collections of smart contracts and their data that are indexed and made publicly available for querying on the network. These subgraphs can be created and curated by anyone, allowing for a wide range of use cases and applications. Currently, there are over 3,000 subgraphs that have been created.
The project’s native token, GTR is currently trading at $0.15 with a market cap of $1.3 billion, down from its ATH of $2.87 in February 2021.
SingularityNET (AGIX)
SingularityNET (AGIX) is a decentralized AI blockchain platform designed to democratize access to AI technology by providing a decentralized AI marketplace. SingularityNet makes it simple for anyone to develop, distribute, and sell AI services using their internal marketplace.
The SingularityNET platform uses smart contracts to facilitate transactions between users. Users can buy and sell AI services using the platform’s native token, AGIX. SingularityNET aims to level the playing field and make AI technology more accessible to the average person who might not have the resources to develop AI solutions on their own.
AGIX is currently trading at $0.41 with a market cap of $493 million, down from its ATH of $1.85 in January 2018.
Render Token (RNDR)
The Render Network is a decentralized, peer-to-peer network for cloud computing and graphics rendering. The network provides a decentralized alternative to traditional cloud computing services. Render Token (RNDR) powers the decentralized network for cloud computing and graphics rendering. The Render Networks users can buy and sell computational power for rendering tasks using the Render Token (RNDR), the network’s native cryptocurrency.
RNDR is currently trading at $1.54 with a market cap of $557 million, down from its ATH of $8.76 in November 2021.
Oasis Network (ROSE)
Oasis Network (ROSE) is a decentralized platform that focuses on data privacy and security. The platform is designed to provide a secure and private environment for users to tokenize, store and share their data.
Oasis Network incorporates AI in various ways to enhance its data privacy and security capabilities. One of the main ways is through the integration of secure enclaves. These enclaves are hardware-based security mechanisms that use a combination of encryption and AI techniques to keep data secure and private.
ROSE is currently trading at $0.061 with a market cap of $354 million, down from its ATH of $0.59 in January 2021.
Fetch.ai (FET)
Fetch.ai (FET) is a decentralized platform built on a combination of AI, machine learning and blockchain technology.
Fetch.ai (FET) is designed to automate big business tasks through the use of smart contracts. Users can build, deploy and connect smart agents to automate web3 systems and reinvent business models. The Fetch.ai platform has numerous potential use cases, including decentralized finance (DeFi), supply chain management, and internet of things (IoT) applications.
FET is the native cryptocurrency of the Fetch.ai platform, is used as a means of payment for services and as a reward for contributing computational resources to the network.
FET is currently trading at $0.36 with a market cap of $294 million, down from its ATH of $1.18 in September 2021.
Ocean Protocol (OCEAN)
Ocean Protocol (OCEAN) is a decentralized data exchange protocol that enables individuals, businesses, and organizations to share and monetize data. The protocol is built on blockchain technology and uses smart contracts to facilitate data transactions between buyers and sellers.
OCEAN is currently trading at $0.38 with a market cap of $233 million, down from its ATH of $1.94 in April 2021.
Why Should You Invest In AI Crypto Tokens?
AI in general is a hot topic, and the hype and adoption of AI technology will only increase in the next few years. This could mean that AI crypto projects could potentially be lucrative investment opportunities. Here are some of the reasons you may want to allocate a portion of your crypto investment to certain AI crypto projects:
High Growth Potential
AI technology is becoming popular in various industries and is expected to continue to grow rapidly over the next few years. AI cryptocurrencies could potentially provide investors with a unique opportunity to invest early, before the growth of this technology.
Diversification
When it comes to investing, diversification is key. Investing in a range of different types of crypto projects can provide diversification in your crypto investment portfolio. You can invest in multiple projects and tokens, diversifying your crypto exposure.
While good opportunities may exist when it comes to investing in AI projects, it’s important to remember that there are still risks involved. Just like any crypto project, AI crypto investments also carry the same risk. There is never a guarantee in terms of returns. Always do your own research and assess the potential risks and rewards before making any investment decisions.
Where Can I Buy AI Crypto?
If you’re looking to buy an AI crypto coin, you can buy them on various leading crypto exchanges. Depending on the specific AI crypto project you’re interested in, you could buy AI crypto coins from the following leading crypto exchanges:
MEXC
MEXC Global is one of the top cryptocurrency exchanges in the world. Over 7 million people in more than 70 countries trust MEXC, which was founded in 2018. With more than 1,100 listed cryptocurrencies, secure, quick, and user-friendly transactions, the MEXC platform offers an exceptional trading experience.
RR² Capital announces strategic partnership with MEXC.
Binance
Binance is the world’s largest cryptocurrency exchange by trading volume, with a user base of nearly 30 million, and a daily trading volume of over $2 billion. You can buy and sell over 600 cryptocurrencies on Binance, including various AI tokens.
Coinbase
Coinbase was the first cryptocurrency exchange to go public on the Nasdaq Stock Market in 2021. Coinbase has approximately 103 million verified users in over 100 countries. Coinbase has an intuitive user interface. If you’re a beginner looking to buy your first AI crypto, you’ll likely find this platform easy to use.
Where Do You Store AI Crypto Tokens?
AI tokens, like most other cryptocurrencies, are typically stored in digital wallets. Digital wallets can either be software or hardware-based. Your digital wallet provides a secure way to store, send, and receive AI tokens. There are various types of wallets that can be used to store AI tokens, including:
Software Wallets
Software wallets are applications that you can install on your computer, smartphone, or tablet to store your digital tokens. These wallets provide a secure way to store, send, and receive cryptocurrencies, without the need for a physical device. Some examples include MetaMask and Trust Wallet.
Hardware Wallets
Hardware wallets are physical devices used to store cryptocurrencies offline. Hardware wallets are considered to be one of the most secure ways to store cryptocurrencies against hackers.
Hardware wallets often come in the form of a USB stick or a small Bluetooth device. Hardware wallets usually have a small screen with buttons. Some examples of hardware wallets include Ledger Nano S and Trezor.
Exchange Wallets
Many crypto exchanges provide free wallets that can be used to store your crypto assets. It’s important to remember that storing your tokens on an exchange wallet means you do not have control over your private keys, which can be a security risk. It is generally not recommended to store your crypto in an exchange wallet for a long period of time. If the exchange you trusted with your crypto experiences a hack or breach, you could lose all of your funds.
When choosing a wallet to store AI cryptocurrencies, consider factors such as security, ease of use, and compatibility. Always do your research and choose a reputable wallet provider to ensure your tokens are as safe as possible.
How Is AI Used For Trading Cryptocurrencies?
AI has many use cases when it comes to cryptocurrencies, this includes the use of AI in trading cryptocurrencies. AI is used for trading cryptocurrencies in some of the following ways:
Algorithmic Trading
Traders often use algorithms to analyze market data and make informed trading decisions. By using pre-programmed rules, traders can benefit from auto executing smart contracts based on market conditions, making it faster and more efficient than manual trading.
Sentiment Analysis
AI can also be used to analyze social media, news, and other sources of information to gauge market sentiment and predict price movements. By analyzing big data in a short period of time, AI can identify trends and help traders make informed decisions based on market sentiment.
Risk Management
Traders use AI to monitor crypto market conditions and identify potential risks, such as volatility or price manipulation. By detecting potential risks early, traders can take proactive measures to mitigate any losses and to protect their investments.
AI is no doubt a valuable tool that can and is being used to trade cryptocurrencies. AI helps traders make more informed investment decisions based on data and market trends. As AI continues to evolve, we can only expect to see more use cases for this innovative technology.
Is AI The Future Of Crypto?
Cryptocurrency and artificial intelligence are driving technological advancement. Combining “thinking” devices with programmable, intelligent money could shape the way payments are made in the digital age. We’re excited to see what AI holds for the future of cryptocurrencies.
About RR² Capital
For more information about RR² Capital and our expansive disruptive technology-focussed investment portfolio, visit our website here or send us a mail here.
