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AI cryptocurrencies are among the hottest trending narratives in crypto right now. Here's how to choose the best AI crypto to invest in in 2024 and what to know while trading AI coins.
Best AI cryptos for 2024: Highlights
Since Q4, 2022, artificial intelligence has become popular amid retail crypto holders following the public release of ChatGPT, a chatbot powered by OpenAI's GPT-3 language model. Some crypto teams decided to integrate elements of AI into their marketing and tech development strategies.
- AI cryptocurrencies are digital assets (altcoins) somehow associated with artificial intelligence, machine learning, large language models, "big data" and so on.
- The AI cryptos class includes various segments as different teams leverage the popularity of the AI narrative in different ways.
- The majority of AI cryptos rely on artificial intelligence as part of their communication and marketing strategies without being involved in AI development and adoption.
- However, some other AI cryptocurrencies integrated elements of AI and ML into their underlying products.
- Also, multiple teams use cryptocurrencies as a fundraising instrument for their AI experiments, research and development.
- Since the inception of the AI narrative in crypto in late Q4, 2022, a number of AI cryptocurrencies went through triple-digit rallies: The largest upsurges were registered in Q1 and Q4, 2023.
The segment of AI cryptos can be characterized by increased volatility, but its aggregated capitalization is growing steadily.
What is AI?
AI, or artificial intelligence, refers to the development of computer systems that can perform tasks imitating human intelligence. It leverages a scope of techniques and approaches to simulate human-like cognitive functions, including analysis, reasoning, problem-solving, perception and language understanding. AI aims to create machines capable of adapting to new information and situations, ultimately exhibiting traits such as creativity and constant self-improvement.
Machine learning or ML is a prominent subset of AI, focusing on the construction of algorithms that enable computers to learn and make predictions from data. Deep learning, a subfield of ML, uses artificial neural networks inspired by the human brain to solve complex tasks, like image and speech recognition.
AI finds applications in diverse domains, including natural language processing, robotics, healthcare, finance and autonomous vehicles. It has the potential to revolutionize industries by automating tasks, providing data-driven insights and augmenting human decision-making. While AI offers immense benefits, ethical concerns, privacy issues and responsible development are critical considerations as its adoption continues to grow.
What are AI cryptos: Three types
AI cryptos are digital assets somehow connected to the segments of artificial intelligence and machine learning. AI cryptocurrencies do not leverage corresponding tech necessarily: For the vast majority of them, AI is part of the promotional narrative.
AI cryptos: Marketing
The lion's share of cryptocurrencies associated with AI are just riding the hype around the strong narrative. They might introduce themselves as "the first AI meme coin," "a collection of AI-generated NFTs" and so on. Artificial intelligence does not play a significant role in their tech designs.
AI cryptos: Tech
Some AI cryptocurrencies are integrated into tech mechanisms based on AI and ML. For instance, these tokens can be part of the tokenomical design of a proof-of-stake system that is backing a distributed GPU ecosystem for large language models. In this case, cryptocurrency is necessary for the monetization of AI-associated resources or instruments.
AI cryptos: Fundraising
Last but not least, some tokens can be part of fundraising efforts of AI projects. Not unlike ICOs and IDOs, they leverage cryptocurrency tokens as a convenient, transparent and inclusive way of raising funds from the retail audience.
With these coins, every crypto holder can try investing in AI development and adoption.
Top AI cryptos to watch in 2024: Guide
Now we are ready to cover the most promising AI cryptocurrencies to watch in 2024. AI tokens can either be tracked through the "Top Artificial Intelligence (AI) Coins by Market Cap" category on CoinGecko or the "Top AI & Big Data Tokens by Market Capitalization" category on CoinMarketCap.
Render Network (RNDR) AI crypto
Render Network (RNDR) is arguably the first AI cryptocurrency, as it was introduced in 2017. It is promoted as the first decentralized GPU rendering platform that allows artists from various regions of the globe to scale GPU rendering work on-demand using high performance GPU nodes.
As such, Render Network (RNDR) is a response to the ever-increasing demand for reliable GPU resources that emerged following the euphoria around AI development.
Fetch.AI (FET) AI crypto
The Fetch.AI (FET) platform is focused on building and promoting "AI agents," a class of modular building blocks various real-world applications can use for scaling. "AI agents" can either be described as mini-applications or elements of computational infrastructure.
AI cryptocurrency FET is an Ethereum-based ERC-20 token that supercharges the tokenomical design of the product and serves as an instrument for its monetization.
SingularityNET (AGIX) AI crypto
SingularityNET (AGIX) is the first-ever decentralized blockchain-based marketplace for AI resources. It is designed to accelerate AI breakthroughs in various fields of technology. Besides offering computational resources for AI development, SingularityNET (AGIX) also offers AI Publisher to release AI-powered applications.
Its core native cryptocurrency AGIX can be staked and bridged between Ethereum (ETH) and Cardano (ADA) blockchains. As such, AGIX holders can benefit from AI development on the SingularityNET platform effortlessly.
Akash Network (AKT) AI crypto
Akash or Akash Network (AKT) is an open-source Supercloud platform designed for buying and selling computing resources securely and efficiently. Users of Akash Network (AKT) can deploy their applications on it just like they previously did with AWS or Digital Ocean.
Akash Network (AKT) cloud computation system leverages the principle of auctions: As a result, the resources of its cloud are 20% cheaper than competitive offers. For maximum stability and customizability, Akash runs on Kubernetes, the industry-leading container orchestration system.
OriginTrail (TRAC) AI crypto
OriginTrail (TRAC) is an ambitious attempt to leverage blockchain and AI technologies to combat counterfeiting and copyright infringement in retail. Decentralized Knowledge Graph by OriginTrail (TRAC) combines knowledge graph and blockchain technologies to enable a universe of AI-ready knowledge assets, allowing multiple actors to take part in trusted knowledge sharing.
The OriginTrail (TRAC) ecosystem emerged within the framework of OriginTrail Parachain, the DKG innovation hub on Polkadot.
Numeraire (NMR) AI crypto
Numerai promotes itself as the first-ever decentralized hedge fund based on artificial intelligence. Users can create, train and activate automated models for trading cryptocurrency assets. The authors of the most successful ones are rewarded for their contributions with bonuses in the NMR cryptocurrency.
Also, users can stake their NMR cryptocurrency to support this or that prediction strategy and share the rewards with its authors.
PAAL AI (PAAL) AI crypto
PAAL AI (PAAL) is a sophisticated AI platform that is positioned as the first cryptocurrency-centric ecosystem of AI instruments. It includes a GPT-like chatbot for cryptocurrency information, cryptocurrency research tooling, an "AI-as-a-Service" module, LLM for crypto and a customized data set menu.
PAAL stakers can benefit from the project's revenue. The project has been part of the Google Startup Cloud platform since 2023.
Oraichain (ORAI) AI crypto
Oraichain (ORAI) is the first-ever AI-powered oracle for cryptocurrencies. Technically, it is an IBC-enabled Layer 1 to verify multidimensional trustworthiness of AI and to build Web3 applications with a unique AI oracle.
The developments of Oraichain (ORAI) can be integrated within DeFi, NFTs, identity, collective intelligence, asset tokenization, smart healthcare and more. Also, Oraichain (ORAI) can be described as a programmable blockchain for dApps that supports smart contracts on various programming languages.
Humans.ai (HEART) AI crypto
Humans.ai (HEART) is a multi-product ecosystem for various AI-related developments. It allows any crypto enthusiast to create their own AI NFT, invest in AI platforms, launch a DAO and so on.
Also, the project supports the "proof-of-human" technology designed to ensure three key functions related to AI NFTs: governance, consensus and verification. Through sophisticated tech, the platform verifies the human status of every participant to avoid cheating.
Alethea Artificial Liquid Intelligence (ALI) AI crypto
Binance- and Polygon-backed Alethea AI is the artificial intelligence platform behind CharacterGPT v2, the world's first multimodal AI system capable of generating interactive AI characters from natural language descriptions.
The Alethea AI protocol powered by iNFTs allows entrepreneurs to integrate various components based on AI and ML into their business models. Its ALI token serves as the utility and governance asset of the protocol.
Top AI crypto coins for 2024: Biggest AI cryptocurrencies list
In this index, we are going to list basic data about AI cryptocurrencies: ticker, name and the largest exchanges where one can buy AI cryptos.
Market cap, $ million (December 2023)
The net capitalization of the AI cryptocurrencies segment is over $9.6 billion, as per CoinGecko data.
AI cryptocurrencies or AI cryptos are altcoins somehow associated with artificial intelligence and machine learning. Some projects use AI as part of their tech offering, while the majority of them just rely on AI as part of the narrative for marketing.
Render Network (RNDR), Fetch.AI (FET), Singularity.NET (AGIX), Akash Network (AKT) and OriginTrail (TRAC) are the largest AI cryptos by market cap as of late December 2023.