In the first half of this year, we can easily see that: AI and cryptocurrency are combining to create powerful technologies. By integrating on-chain tools, builders are creating smarter, safer, and more efficient ways to support AI tasks, verify data, and train AI models.
Along with the approvals of Bitcoin and Ethereum ETFs (and potentially an upcoming Solana ETF), cryptocurrencies have firmly established themselves in traditional investment vehicles. Only one question arises now: what are the decisive chances for the leaders in the biggest bull market ever?
The close relationship between AI and Blockchain
Developers are often attracted to technologies at the intersection of AI and blockchain: blockchain provides the perfect infrastructure for AI to operate securely, decentralized and efficiently.
Blockchain technology powers AI in many important ways: from data verification to efficient distribution of computing power; from training AI models to giving end users some much-needed privacy in an increasingly digitalized world. Unlike previous generations of AI that were only connected to the Internet, AI agents in blockchain can operate on a scalable and secure infrastructure. This brings them closer to performing tasks ranging from simple to complex with incredible efficiency and reliability, without the risks of centralized servers and databases.
Sam Altman, arguably the biggest name in AI, has shown confidence in integrating blockchain and artificial intelligence systems with the Worldcoin project.Erik Vorhees – a pioneering cryptocurrency entrepreneur – has also branched out into the field of artificial intelligence with Morpheus and Venice AI – two projects that explore the delivery mechanisms and use of artificial intelligence to seek equitable access for all.
And it's not just the builders who believe that crypto and AI are growing in sync; Professional investors are also one of them. Pantera Capital – an early investor in Coinbase, Circle and BitStamp – is raising $1 billion for a new fund focused entirely on crypto AI projects.
The AI and blockchain market is growing strongly
In the first two quarters of 2024, crypto-AI has successfully attracted investor interest, with more than $98.8 million poured in. The valuation of AI tokens is even more impressive, with a total market value of $26 billion. These numbers paint a clear picture of the potential for explosive growth in this sector.
As things stand, AI-blockchain integrations are predicted to add $20 trillion to the global economy by 2030. And there are plenty of start-ups emerging, attracting attention. of venture investors. Projects such as Nexus Laboratories and Bittensor have shown strong capabilities in driving and maintaining market share.
Nexus Laboratories just closed a $25 million Series A funding round to further harness the power of blockchain to verify AI data, ensuring accuracy and trustworthiness.
Bittensor takes a different approach by integrating the entire cryptocurrency ecosystem into the training process of AI models. Like Bitcoin, Bittensor also operates a blockchain itself. The main difference is that instead of relying on energy-intensive mining, Bittensor miners validate blocks through AI-related tasks. By completing the given tasks, they are essentially contributing to the training of AI models. In return, they are rewarded with attractive incentives, encouraging them to continue validating blocks honestly to support the network. Like Nexus, Bittensor is also backed by VC firms. Its eponymous native token – TNSR – boasts a market capitalization of nearly $75 million and is said to be at the forefront of tokenized artificial intelligence ecosystems.
Professional investors' outlook on Crypto-AI
Projects that combine blockchain with AI are considered the most unworthy opportunities for angel investors to test in the current market. But just investing is not enough – we must immediately seize the opportunity when it appears. If we look at the growth of crypto-AI projects, we can see that they have the potential to attract more attention from mainstream markets, causing their value to increase. By getting in early, angel investors can take advantage of this growth potential and achieve higher returns relative to the risk.
Despite the excitement surrounding all the projects that combine AI and blockchain, we cannot underestimate the challenges of trying something new.
Firstly, the field is still in its early stages, which means that although many projects have a solid theoretical foundation, they are still far from being tested in practice and therefore carry a degree of risk. High. Next is about supervision by regulatory agencies. Governments around the world are still trying to figure out how to exploit AI responsibly, and they are only just starting to get acquainted with the concept of cryptocurrency. Having fewer regulations that stifle innovation does not mean we are out of trouble.
Finally, it is important to avoid entrepreneurs who only seek to take advantage of opportunities without a clear vision. With projects built on cutting-edge and groundbreaking ideas, the potential for long-term success is just the starting point. Investors should look for companies with strong fundamental values that align with their mission. As always, due diligence is an invaluable tool for investors eyeing the crypto-AI sector, so be sure to do your own thorough research!
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