First edition explains how to find a narrative and capitalize on the opportunity.
Second post with Binance Feed will dive into AI!
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The market is exploding with bullish momentum and investors are getting speculative. This spillover affect has created insane appreciations in various niches.
Our first blog discussed how to find narratives within the crypto market. This article is going to investigate one of the most explosive niches: Artificial Intelligence.
AI has taken over the internet. Applications like Github Co Pilot, Chat GPT, Quil Bot, Tweet Hunter, etc are all prime consumer centric examples where AI has the potential to outsource menial tasks.
Upon observing this trend I asked myself..
What are the biggest AI projects?
Where is the true value proposition of Crypto x AI
How are they performing?
Do they have actual AI integration, or just a clickbait name?
Are there new ICOs/IDOs offering this technology integration?
It is clear to see that Chat GPT’s rise to fame has acted as a fundamental catalyst to boost the capital interest in this niche. Using the CoinGecko link above, I gathered some projects that are experiencing rapid appreciation.
AGIX, ALI, FET, VXV, ORAI, NMR .. the list goes on!
Frankly, I don’t really consider myself an expert in these projects. In this instance I am analyzing the projects from the “technical perspective”. By this, I mean I am looking at the price action, market structure, and the ability to capitalize on short term volatility. By deduction, this implies I do not care about the team, tokenomics, or other factors that contribute to a long term investing “fundamental perspective”
Checklist for Projects I want to Trade:
The market structure continues to make higher highs + higher lows
Volume profile shows bids exceeding asks (more buyers then sellers)
Performance is higher then that of Bitcoin (reference asset)
Strong story behind the niche that triggers an emotional reaction to outsides and elicits “FOMO”
It’s worth noting that AI is a rapidly evolving field, and the potential for capitalization may vary depending on the specific industry. It’s always a good idea to stay up-to-date on the latest developments in the field.
Specifically speaking about AI x Crypto, this is one narrative that could have longevity given to the pure retail-centric utility provided by the technology. Key considerations on an AI Crypto ICO Include..
A clear and well-defined use case for AI. Not just cause it is cool.
Foundation/team of DOX’d experts and software developers.
Plan that outlines how the project will generate revenue.
Token useage within the platform.
Integration with existing names like Chat GPT, etc..
With its ability to process and analyze large amounts of data, perform complex tasks, and make predictions, AI has the potential to revolutionize a wide range of industries and improve our lives in many ways. Why not crypto? Here is an AI’s thoughts on innovating crypto, with AI..
"AI can be used to optimize the performance and security of blockchain networks, such as helping to manage the distribution of computational tasks across the network (Lin, Liu, & Wang, 2018). Additionally, AI can be integrated with smart contract to enable decision making, problem-solving, and self-execution, bringing more efficiency and automation to the blockchain ecosystem (Zohrer, 2018)."