No doubt, AI tokens are here to stay. Their relevance in today’s digital space is not unconnected to the growing popularity and usage of AI blockchain protocols. Recall that these protocols are specifically designed for users to build, share and monetize AI services. So, each of them has a native token which powers and coordinates all their economic activities. With these tokens, users are able to access the platforms to enjoy artificial intelligence services. Remarkably, these tokens share a lot of features with other classes of cryptocurrencies. They are decentralized and as well tradable. To know more on the features of AI tokens, it is recommended that you read this article.
As AI tools are gaining relevance across different sectors, projects relating to the innovation in the crypto space are enjoying similar attention. Due to that, AI Tokens are recording notable price surges. In 2024, investors should closely watch AI coins relating to projects like SingularityNET, Fetch.ai, The Graph, Render, NumerAI, Alethea AI, Ocean Protocol, Oasis network, Phoenix, and iExec.
It is worthy of note that following the launch of ChatGPT, an AI-based project in November, the entire crypto industry was agog. Developed by a San Francisco–based OpenAI, ChatGPT is enveloped with numerous features, including language translation, text generation, language modeling and many more. However, barely a month after its launch, the innovation had already secured more than a million users. In January, OpenAI collaborated with Microsoft to support its project research. According to reports, the ChatGPT developer received $10 million in funding from Microsoft to finance its project.
We are happy to announce the next phase of our partnership with Microsoft: https://t.co/mqx3ZJNGfL
— OpenAI (@OpenAI) January 23, 2023Fortunately, this development started the most significant rise in the popularity of AI cryptocurrencies. As of today, some of these tokens like The Graph, SingularityNet and others have gained remarkable prominence in the global crypto market, outperforming others to rank amidst the top 100 cryptocurrencies.
Nevertheless, what every potential investor must bear in mind is that these AI tokens are not immune to the extreme volatility of the broader crypto market. This is evident in the manner in which some of these tokens responded to the prevailing BTC price rally. Recall that the largest crypto by market cap began to enjoy a positive price movement on March 10 following reports of the collapse of major banking institutions in the US. Occasioned by this development, many investors moved their investments into crypto. To know more on how this price movement impacted top AI tokens, it is recommended that you read this article.
Amid the current trend in the crypto market, this article will accurately analyze the first ten AI cryptocurrencies that investors must look out for in 2024. Although, it is necessary to assert that the content in this analysis is not financial advice, thus every potential investor must carry out their personal research before investing in any AI crypto.
Notable AI tokens investors can look out for in 2024
1) SingularityNET (AGIX):
Today, SingularityNET has grown to become one of the top notch AI projects. Primarily, it is designed to enable users to build, share and monetize AI services. It has its own marketplace which allows developers to charge users of their services. Certainly, these users make the payment in AGIX, the native crypto of the platform.
No doubt, SingularityNET (AGIX) has continued to stand out amidst its peers. Its price rally since the inception of the year, occasioned by the growing adoption of its blockchain platform and the landmark success of ChatGPT has been remarkable. Since the beginning of the year till around March 25, AGIX surged from $0.04 to $0.4, representing a 900% rise. Currently, it has a market cap of $552.70 million according to CoinmarketCap.
Even though this impressive performance is not an indication of its future results. But, it places the token at the forefront of all the exciting AI tokens to look out for in the coming months.
2) Fetch.ai (FET)
Remarkably, Fetch.ai (FET) is another AI project that has continued to see the limelight. According to findings, it is designed as an interchain platform, thus leveraging the capacity of artificial intelligence to execute numerous tasks on the blockchain. Its native token, FET, coordinates all the economic activities in the ecosystem. This is because it serves as the instrument through which users of the platform can pay for the services offered on the network.
Certainly, FET has also enjoyed an impressive price rally this year. From the beginning of the year till around March 25, FET surged from $0.09 to $0.36, according to CoinmarketCap. Currently, the AI token has a market cap of $379.15 million. Following this performance, analysts tip FET to attain a maximum of $0.9 before the end of the year.
3) The Graph (GRT)
The Graph (GRT) is one of those top AI crypto projects that have continued to prove doubters wrong. The project is developed as an indexing platform to resolve the complications associated with reading any other data apart from the basic data from the blockchain.
It’s native token, GRT, has outperformed since the beginning of the year. Since the beginning of the year till around March 25, the token spiked from $0.05 to $0.13, representing a 160% rise. Amidst all the AI tokens, GRT currently boasts of the highest market cap. According to CoinmarketCap, it has a market cap of $1.24 billion.
As the AI market continues to gain massive momentum, the token has been tipped to even do better. No doubt, GRT is a token with an exciting future ahead.
4) Render
Surely, the render token has already established itself as one of the AI cryptocurrencies with massive potential. Its native protocol, according to our findings, is designed to offer GPU-oriented services. It is the first network to transform the power of GPU computation into a decentralized 3D asset. By doing so, the platform provides an efficient and highly scalable rendering network.
Since the beginning of the year till the time of writing, render token, popularly known as RNDR surged from $0.04 to $1.18, representing about over 2000% increase within the last three months.
5) NumerAI
NumerAI is a powerful AI project, designed on the Ethereum blockchain. It functions as a portfolio management platform, allowing developers and data scientists to build machine learning and prediction models in a decentralized arena.
Its native token, Numeraire has also enjoyed an exciting run since the start of the year, thus becoming one of those top notch AI tokens to look out for. It started the year around $12. Subsequently, AI market price rally caused the token to attain a $17 price tag as of March 25.
6) Alethea AI (ALI)
Alethea AI is a platform, specifically designed to develop GPT-3 powered NFTs. Currently, the protocol is working on incorporating AI animation, interaction, and generative AI capabilities into NFTs. Amid the surge in the AI crypto market, its native crypto, ALI saw a substantial price movement and has been tipped to even do better in the next few months.
7) Oasis Network (ROSE)
According to its whitepaper, the Oasis project is an AI-based layer 1 blockchain. The protocol was designed to enable users to have full control of their data. Some of its features include high throughput, low gas fees, privacy, and reliable security system. As expected, its native token, ROSE was not also left behind in the surge that greeted the AI-focused cryptocurrencies since early January. Notably, as Oasis looks towards implementing a responsible AI later this year, the token is tipped to benefit massively, thereby making it one of the top AI tokens to look out for this year.
8) Ocean Protocol (OCEAN)
Ocean protocol provides a platform for data providers to interact and connect with end-users. To actualize this, it depends majorly on AI and other innovations. Thus, providers of data are able to monetize their data just as users, at the same time, are able to access the resource with ease. As the adoption of Ocean protocol continues to rise, its native token, OCEAN is tipped to enjoy a better price rally this year.
9) Phoenix (PHB)
Phoenix is a layer 1 and 2 blockchain, primarily designed to provide AI-capabilities to web3 projects and dApps. Although its native token, PHB has not recorded any significant price movement since January like other AI-focused tokens. But, with the massive potentials enveloped in its protocol, the token is tipped to witness better results before the end of the year.
10) iExec (RLC)
iExec as an AI protocol is designed to develop the future of Internet infrastructure by allowing users to rent their computing power, data sets and applications and as a result, earn money. Its native crypto, RLC, has not really witnessed a good price movement in recent times, but analysts register hope in the ability of the token to repeat its late 2021 high.
