NVIDIA's GPUs and AI chips dominate the training of AI models. After releasing its first quarter earnings this year, NVIDIA became the first chip company to have a market value of over $1 trillion, and the seventh company to achieve a market value of $1 trillion after Meta, Amazon, Microsoft, Alphabet, Apple, and Tesla.
What projects in the crypto market are related to NVIDIA? NVIDIA has an entrepreneurial incubation program, NVIDIA Inception, which aims to support and accelerate startups in the fields of artificial intelligence and data science, providing startups with resources and support including technical guidance, deep learning training, hardware and software support, marketing and business networks. Below, PANews will take stock of the crypto-native projects that have joined the NVIDIA Inception program.
Flux
Flux is a blockchain network whose consensus is adapted from the "Proof of Work" mechanism and plans to launch the "Proof of Useful Work" (PoUW) mechanism in the third quarter of this year.
Miners in Flux use their GPU hardware to protect the network, and in return they earn block rewards. At the same time, miners are able to use their GPU miners for computationally intensive tasks such as artificial intelligence, deep virtual detection, rendering, etc., generating additional income. Miners can automatically switch between mining and on-demand PoUW tasks to optimize profitability.
Flux joined the NVIDIA Inception program in January 2022. Flux also uses NVIDIA Jetson edge AI platform modules in its own computing network to run as nodes in the Flux network.
As of June 16, the market value of Flux’s native token FLUX was $120 million.
iExec
iExec has developed a decentralized computing resource market where users can buy and sell computing resources, turning cloud computing power into a commodity. Users can obtain GPU computing resources from multiple providers on demand through the iExec cloud market, which is particularly important in fields that require high computing requirements such as artificial intelligence and deep learning.
The project joined the NVIDIA Inception program in October 2022, hoping to gain expertise and experience in GPU computing.
iExec issues the token RLC, which currently has a total market value of US$104 million.
Shapeyard
Shapeyard has built a set of interactive content creation tools for the Metaverse to create 3D digital assets and introduce digital assets into the Web3 economic system, allowing users to exchange and integrate their created 3D digital assets between virtual spaces. The development company behind it, Magic Unicorn, is a New York-based venture capital studio that also develops software in the fields of computer graphics, mobile artificial intelligence, and augmented reality.
Shapeyard has developed a mobile app that contains a variety of 3D models, texture tools and 3D market models. It uses a "what you see is what you get" approach, which can generate digital assets through simple placement and color filling. The application also allows designers to import the created models into 3D printing software.
Shapeyard joined the NVIDIA Inception program in October 2022, hoping to integrate its products into the NVDIA Omniverse platform to build 3D digital assets and export scenes in a common scene description file framework.
Shapeyard’s NFT minting and trading functions are currently under development.
dotmoov
dotmoovs is a Move to Earn project that aims to create a world where athletes, coaches and fans can compete together. dotmoovs' AI system will detect the user's body, evaluate the body movements one by one, and score them. In addition, dotmoovs also provides AI-driven coaches to help users improve problems in sports.
dotmoovs joined the NVIDIA Inception program in June this year, hoping to shape the future of sports through cutting-edge AI solutions.
dotmoovs has issued the token MOOV, with a current total market value of US$4.81 million.
Don't drive
Kondux has built a feature-rich platform that combines blockchain technology with 3D assets, allowing users to view, create and deploy digital assets. Users can customize and view 3D kNFTs through a 3D viewport, buy, sell and trade on the NFT marketplace, view their assets as AR objects through the XR viewer, upload their own digital assets and create NFTs or kNFTs using the NFT minter, and view NFTs in a 3D NFT gallery environment by connecting a wallet.
Kondux joined the NVIDIA Inception program in September 2022, and NVIDIA Omniverse-related hardware and software will provide Kondux with the tools needed to achieve advanced API connections to create interoperable 3D assets, manufacturing models and machine learning applications.
Kondux issues NFT and ERC-20 tokens KNDX, and the current total market value of KNDX is US$1.94 million.
Ubex
Ubex is a platform that uses blockchain and artificial intelligence technology to improve the digital advertising industry, aiming to provide more efficient, transparent and accurate advertising solutions. It connects publishers and advertisers through a decentralized advertising ecosystem, and ensures the verifiability and security of advertising transactions through smart contracts.
Ubex joined the NVIDIA Inception program in June 2018, hoping to leverage NVIDIA’s extensive knowledge in data science to enhance neural network learning techniques.
Ubex has issued the token UBEX, but its current total market value is only US$154,000.
Summary
Among the above projects, Flux and iExec, which trade GPU computing power, are relatively well developed. With the development of AI, there may be demand for the decentralized GPU computing power market. However, there are not many points of integration between Metaverse, NFT projects and GPUs, and their value has also clearly returned in the current bear market environment.
It should be pointed out that there are a large number of projects joining the NVIDIA Inception program, and there may be omissions. It does not mean that these projects have in-depth cooperation with NVIDIA. Investors need to carefully judge the risks on their own.
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