Tesla CEO Musk said on Twitter on March 3 last year: "I used to be fascinated by cryptocurrency (Crypto), but now I am very interested in AI." This is the first time Musk has made this clear statement since OpenAI launched ChatGPT. Express interest in AI. Musk was revealed to be in contact with artificial intelligence researchers, hoping to set up a new research laboratory to develop an alternative to OpenAI's ChatGPT tool.
As OpenAI’s ChatGPT has triggered a new round of “battle for hegemony” among global technology giants, more and more technology giants have begun to enter the game. LinkedIn founder and Greylock partner Reid Hoffman announced that he will leave the board of directors of OpenAI, becoming the next board member to leave after Musk. The industry believes that with the entry of more capital, it may help to create an open source ecosystem of such large AI models to help developers around the world build better artificial intelligence systems.
From this point of view, with the advancement of science and technology, artificial intelligence (AI) has become one of the most promising technologies in the 21st century.
从自动驾驶汽车到智能家具，从智能算法到文本大数据模型，从智能搜索到智能无人机，人工智能（AI）应用范畴越来越广泛。而在加密金融领域，AI与区块链开始有了深度结合，为世界带来颠覆性变革的同时，也促使一系列新的加密货币项目诞生。
According to market data, AI combined with blockchain projects have achieved a return on investment of more than 50% in the past year. This is mainly because AI can provide more efficient and safer trading solutions, and can also provide users with more personalized investments. suggestion. Among them, "AI Coins" led by Render Token (RNDR), Injective (INJ) and SingularityNET (AGIX) are the most popular, with prices rising sharply in the past six months.
Today, Yumo will discuss with you what exactly is AI cryptocurrency, its development potential, and a brief introduction to the five AI coins with the highest market value currently.
The Rise of AI Concept Tokens: From Inception to Boom in 2023
Since 2011, with the rapid development of various information technologies, artificial intelligence (AI) technology with graphics processing, speech recognition, text processing, human-computer interaction, and driverless driving as its external manifestations has broken through the technological gap between science and application. , began to develop rapidly, and ushered in a new climax of development with the implementation of super application scenarios such as ChatGPT and smart drones.
According to a Guosen Securities research report, in June 2023, the average daily active volume of generative artificial intelligence (AI) applications such as ChatGPT, Gamma, Leonardo, Shopify, Meta, Vocalremover, and Snapchat was as high as 13.96 million, of which ChatGPT had a daily active volume of 54.1232 million at the top of the list.
The Guosen Securities Drone Market Report shows that the global civil drone market will reach 315.284 billion yuan in 2023, with an average annual compound growth rate of 57.55%. Since 2016, artificial intelligence with autonomous driving and intelligent vision processing as the core (AI) technology has already been applied in the drone market.
As of 2023, more and more industries closely related to human beings have begun to apply artificial intelligence (AI) on a large scale, whether it is various Internet applications used in daily life, autonomous driving for travel, smart homes in life, and industrial applications. Intelligent production means that artificial intelligence (AI) technology will empower traditional industries and bring about a new technological change.
Despite the blessing of artificial intelligence (AI), the market status of AI concept coins is still not optimistic.
As early as 2019, artificial intelligence (AI) and blockchain have collided. AI concept currency projects led by Fetch.AI and Veals (VLX) have explored machine learning, AI-driven neural networks, etc. technology to enhance the fairness of decentralized networks and greatly improve network operation speed. However, due to the immature technology at the time, each project team was still in the exploratory stage. Without strong narrative capabilities and usage examples, the AI track has always been in its infancy.
In addition, most existing AI projects are actually not directly related to artificial intelligence (AI) technology. For example, The Graph (GRT) technology focuses on decentralized search, and Render (RNDR) is a high-performance distribution GPU rendering network, Injective Protocol (INJ) is a L2 decentralized protocol. Most AI encryption projects, including them, have taken advantage of the popularity to integrate blockchain and artificial intelligence (AI) technology, gradually forming an "AI concept currency" trend.
Some platforms even classify the Worldcoin (WLD) project founded by ChatGPT founder Sam Altman as an AI concept currency, but Worldcoin (WLD) is essentially a digital identity protocol, and it belongs to the DID track.
Regardless of the ChatGPT concept blessing and various virtual halos, the overall situation of the AI track exposed on the beach is not optimistic. As of October 18, 2023, there are 183 observable AI track tokens, with a total circulating market value of US$4.79 billion. Compared with the crypto market size of US$1.31 trillion, AI concept coins only account for 0.37% of the market share of cryptocurrencies.
The future encrypted AI track still has a long way to go.
Price trends and influencing factors of AI concept coins
Before the end of 2022, AI concept coins have not yet formed a systematic understanding, and even before August 2023, even the regulatory level will not pay special attention to the AI track. Since the official release of ChatGPT, the crypto field has begun to pay widespread attention to and pursue tokens related to artificial intelligence (AI). Some projects have also taken this opportunity to start adding the concept of artificial intelligence (AI) into their projects.
Market data shows that before 2022, the price changes of various AI concept coins will be significantly affected by the broader market, and the trend will be almost consistent with that of mainstream tokens. Since ChatGPT attracted much attention at the end of 2022, AI concept coins began to skyrocket and reached their peak in early 2023. As of January 2023, the average increase in AI sector tokens is as high as 169%, and the peak increase of a single currency is 275.06%.
BTC increase data
AGIX growth data
Comparing the monthly growth data of Bitcoin and AI concept currency SingularityNET (AGIX) in the past two years, it can be seen that in 2022, the price changes of AI concept currency will be basically consistent with Bitcoin, and the deviation will remain within 10%. In January 2023, Bitcoin’s monthly increase was 39.98%, AI concept currency AGIX’s increase was 275.06%, and the increase deviation was as high as 235.08%. In February, the monthly increase deviation between the two was also 146.28%.
上图的搜索趋势数据图中，我们比较了比特币与ChatGPT 的搜索指数，比特币在过去一年中一致保持平稳状态，搜索变化趋势不大，而ChatGPT 从2022年底搜索频次开始增加，到2023年2月达到搜索巅峰，随后呈现快速下降趋势。
This is consistent with the increase in Bitcoin and AI concept coins from the end of 2022 to February 2023, indicating that the increase in AI concept coins at the beginning of the year was indeed a change affected by the ChatGPT news. This impact is continuous and predictable. Subsequent breakthroughs in various aspects of artificial intelligence (AI) technology may cause a price spree for AI concept coins.
Introduction to the five major AI Coins
The Graph (GRT)
The Graph(GRT)是一种检索和访问区块链数据的去中心化协议，被誉为Web3版本的谷歌。曾在2020年与2022年总共完成5500万美元的战略融资，参投方包括Coinbase Ventures，Digital Currency Group，Tiger Global，Blockwall，分布式资本等等。
The Graph (GRT) is to the crypto world what Google is to search. Currently, it needs to handle more than 4 billion data query requests on cryptocurrency prices, historical trading volumes, and liquidity every month from Uniswap, Coingecko, Synthetix, etc. Due to its special search function, its user group targets users in the entire encryption field, with a very large base and strong product scalability. The Graph relies on an incentivized node network to keep services running, and its value lies in whether there are enough users to use the current data network. Users can pay ETH or DAI for inquiry, and use GRT for final settlement to ensure the consistency of the entire protocol, which allows the core value of GRT to be highlighted and remain stable.
Although The Graph (GRT) is the leader in data indexing, whether its actual value can support the current high valuation still needs to depend on The Graph's actual future performance.
Render Token (RNDR)
Render network (RNDR) is the world's largest distributed GPU computing and 3D rendering network. The parent company behind it is Apple VR's technical partner. Zeng successfully completed US$30 million in financing at the end of 2021, with participating investors including Multicoin, Solana Foundation, etc.
Render network (RNDR) has advanced cloud rendering technology and created a distributed network composed of millions of GPU devices, which has strong technical barriers. However, due to strong professional barriers, the user group it targets is narrow, which also limits its development speed. Investors also need to carefully examine the core of the project and participate prudently based on the situation.
Injective (INJ)
Injective （INJ）是一种去中心化交易所 (DEX) 协议，提供跨链保证金交易、衍生品、外汇、合成品和期货交易等服务功能。该项目在2022年8月完成由Jump Crypto领投的4000万美金融资。
The main function of Injective (INJ) is to allow different developers to create Dapps on its network. It is the first and only blockchain to support automated smart contracts. INJ can support cross-chain transactions and revenue activities, and motivate and obtain value through liquidity mining. Injective (INJ) allows the creation of any derivatives market using only price feeds, thereby distinguishing competing products and having a unique value core.
As a side chain solution for Layer 2, Injective (INJ) has no obvious advantages, and due to the relatively transparent technology of the DEX industry, it is difficult to build long-term barriers. The market competition is fierce and changes rapidly. The investment risk of a single project is also very high. Investors need to be cautious. Consider.
Oasis Network (ROSE)
Oasis Network 是一个基于区块链的开放式财务平台，使用保护计算技术来保护数据隐私和安全。其支持跨链交易和智能合约等功能，是一个更安全、更私密、更开放的数字资产交易和金融应用平台。
A privacy-centric blockchain architecture that includes a parachain technology called “ParaTime” that enables more efficient transaction processing and better privacy protection. ParaTime can also support programmable privacy-preserving computing, allowing users to achieve more data processing and calculations while protecting data privacy.
In addition, Oasis Network also provides a decentralized data market that allows users to trade and share data assets while protecting data privacy. The platform also supports smart contracts, which can realize more application scenarios, such as data sharing, financial services, supply chain management, etc.
SingularityNET (AGIX)
SigularityNET 是最早将AI 和区块链结合的项目之一，早在2017 年12 月19 日就通过首次代币发行募集了3600 万美元的资金，额度在60 秒之类被抢光，可见该项目在当时的火热程度。
SingularityNET's mission is to create a decentralized, democratic, inclusive and beneficial AGI. An AGI that does not rely on any central entity allows multiple AI solutions to collaborate in a participatory manner to solve problems without any central control.
Development potential
With the launch of AI products such as Open AI, ChatGPT, and Dall-E, the future development potential of AI has become a hot topic around the world. According to predictions from the McKinsey Global Institute, the output value of AI will reach US$13 trillion in 2030, which is estimated to add 1.2% to global GDP growth every year. Global technology companies such as Google, Apple, Microsoft, and Baidu have increased investment in the AI industry. The mutual competition between major technology companies in the development of AI has also proved to the public the huge potential of the AI industry.
When future music, painting, writing, film and artistic creation are all created by artificial intelligence and appreciated by the public, machine creation may be more marketable and promising than human creation. It’s not hard to believe that we are witnessing the arrival of the “singularity” of artificial intelligence. With such a strong AI craze driving investors to look for AI-related investment projects, AI Coins is one of their choices.
AI 加密货币挑战
Although AI cryptocurrency is currently gaining momentum, there are still many challenges that need to be addressed for long-term development. The following are the challenges that AI coins can encounter in the cryptocurrency market:
Challenge 1: The regulatory system is immature
Currently, the cryptocurrency market still has not developed a clear and consistent set of regulations. The value and availability of AI tokens will most likely be affected by the future regulatory environment, creating uncertainty for projects and investors. Moreover, the anonymity and decentralization principles of AI Coins are likely to trigger the attention of regulatory agencies and lead to stricter regulatory policies and regulations.
Challenge 2: Lack of popularity
Although AI and blockchain technologies are currently favored by the public, most people have less understanding of the concepts and principles of these two new industries. Now the integration of knowledge from the two industries has made things more complicated. If the public lacks a certain level of understanding, it will be difficult for the project to attract investment. And because AI tokens include both “AI” and “cryptocurrency,” both of which are highly competitive industries with many projects competing for investment and attention, it becomes more difficult for a single project to stand out and attract investment.
Summarize
With the world paying attention to the AI industry, all AI-related products have doubled in value. BuzzFeed CEO's statement that "AI content will be part of its core business" helped his company's stock price surge by 300% in just two days. Therefore, the editor believes that driven by the rapid development of the AI industry, AI Coins will have very strong growth potential.
However, there are currently countless AI Coins on the market, and the technology used and services provided by each AI Coins are very different. Moreover, for people without relevant knowledge, the technology of artificial intelligence and blockchain industry is also very complicated to understand.
Before choosing AI Coins, please remember to learn more about the use of the currency in its blockchain (DO YOUR OWN RESEARCH), and do not blindly follow the trend to buy AI Coins.
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