AI (Artificial Intelligence) has become one of the largest markets in recent times. According to the IDC market, investments in AI technologies and systems are forecasted to reach $300 billion in 2024. With tech giants like Apple and Google adapting AI to their devices, the narrative of AI continues, causing us to keep an eye on those crypto AI projects.
Highlights:
- Apple is ready to integrate ChatGPT into its upcoming iOS 18.
- Elon Musk threatens to ban Apple’s devices out of concern for security violations, but he has not stopped developing his own artificial intelligence products.
- Amid the AI boom, some crypto projects are expected to benefit.
- AI and AI crypto projects will continue to be hot topics in the future.
iPhone Integrates AI; Elon Musk Reserves Chips
Apple announced their upcoming iOS 18 with AI features on June 10 at WWDC. The so-called Apple Intelligence, which integrates ChatGPT, could help users summarize long content, prioritize messages, emails, and notifications, generate original images, and communicate with Siri in a more natural way. The new features will be in beta this fall and will be built into certain models of iPhone, iPad, and Mac.
On the other hand, Elon Musk, the CEO of Tesla and X (formerly Twitter), also pivots towards AI development despite his ban on Apple’s AI devices. Not long before, he expressed his ambition to make Tesla a leader in AI and robotics, necessitating a significant number of Nvidia processors to build the required infrastructure. During Tesla's first-quarter earnings call in April, Musk stated that the company plans to increase the number of active H100s, Nvidia's flagship AI chip, from 35,000 to 85,000 by the end of the year. He also mentioned that Tesla would allocate $10 billion for AI training and inference this year in a post on X.
Although the correspondence from Nvidia suggests that Musk redirected a substantial shipment of AI processors, initially reserved for Tesla, to X and his new AI startup, xAI, his determination to develop AI remains firm. The difference lies in the priority given to which products to utilize.
Top AI Existing AI Projects to Look For
In crypto, discussions and applications of AI dApps have long been present, even predating ChatGPT. Here are some existing AI projects to look out for.
Fetch.AI
Fetch.AI is a pioneering artificial intelligence lab that opens doors by building a decentralized and permissionless machine learning network with robust security within the cryptocurrency economy. The platform coordinates access with AI technologies to enable users to easily connect and gain access to secure datasets by leveraging autonomous AI technologies to perform tasks within the permissionless network.
The Fetch.AI model is based on use cases such as optimizing DeFi trading services, transportation networks (parking, micro-mobility), smart energy grids, and travel.
The network's utility token is $FET. The token was developed to deploy, find, create, and train different digital twins. $FET plays a vital role in overall network performance and is an important part of smart contracts.
Moreover, users can create different digital twins with a $FET token. Users and developers can also access different machine utilities to train their digital twins by paying for FET tokens.
$FET started an upward trend towards the end of 2023, reaching a high of $3.27 in late March this year. Currently, it is fluctuating between $1.38 and $1.75.
At the time of writing, $FET is currently trading at $1.386 with a market cap of $1.16 billion. The token is available on CoinEx for spot and future trading.
Ocean Protocol
Ocean Protocol is another AI-based project that leverages the combination of blockchain technology, cryptographic techniques, and decentralized networks to secure data sharing for users. Ocean Protocol was established to develop technology for a Data Economy, intersecting blockchain, data, and AI.
Furthermore, the project has a native token known as $OCEAN, which is a utility token. Ocean Protocol enables developers and users to create and launch their own data markets by utilizing different tools on the platform. The token holders can also lock their tokens and earn VeOceans as passive rewards.
$OCEAN shares a similar trend to $FET, but the market cap is much smaller, around $335 million. The 7 days price range is between $0.74 and $0.59.
At the time of writing, $OCEAN is currently trading at $0.655 with a market cap of $357 million. The token is available on CoinEx for spot and future trading.
It is worth noting that Fetch.ai, Ocean Protocol, and SingularityNET will be merged as the Artificial Superintelligence Alliance (ASI) on June 13. Their tokens, FET, AGIX, and OCEAN, will be merged as ASI on July 15.
Synesis One
Synesis One is a decentralized autonomous organisation (DAO) with a native token, $SNS. It is an intuitive, play-to-earn platform that provides a system for users to develop games and create datasets to train AI through DAO.
Moreover, users can make their time worthwhile by trading NFTs on the Synesis platform. These are called Kanon NFTs. With this, users can easily participate in the Synesis ecosystem, contribute to it, and play enjoyable games.
One of the aims of this ecosystem is to address the core issues of AI development and provide solutions to them. It provides a leading model for AI development and opportunities to earn passive income from different games. It is one of the most unique projects for AI development and tech giants.
At the time of writing, $SNS is trading at $0.02618, with a market cap of $11.97 million. It is a low-market-cap project with great potential for a bull run.
Near Protocol
Finally, we have Near Protocol with a native token, $NEAR, a layer-one blockchain. It was developed and designed as a community-run cloud computing platform that addresses some of the limitations plaguing competing blockchains.
The limitations include poor interoperability, lower transaction speeds, and poor throughput. NEAR Protocol has a unique consensus mechanism known as Doomslug, which provides unique solutions to scalability issues for developers and users.
At the time of writing, $NEAR is currently trading at $5.379 with a market cap of $5.88 billion. It is also available on CoinEx for spot and future crypto.
More Crypto AI Projects Are Coming
There are numerous crypto AI projects currently under development. For example, ChainML, a Web3 AI platform, has currently secured funding worth $6.2 million in seed extensions. The company has built an agentic base layer called "Theoriq," which leverages blockchain technology to enable AI agents to perform complex tasks like registration, payment, and security. It regards Fetch.ai as a competitor.
According to a study by McKinsey Global Institute, AI could actually generate more than 20 to 50 million new jobs worldwide. However, many people still worry that it could take away their jobs. Other issues include deep fake scams, infringement of intellectual property rights, ethical issues like whether it is appropriate to have an AI relationship, and so on.
As Elon Musk suggested, “AI is far more dangerous than nukes.” But it seems like a revolution that we cannot stop.
Check out CoinEx market to find out more AI and big data projects that you might be interested in.
Disclaimer: Please note that the information provided on this website is intended for informational purposes only. CoinEx assumes no liability for any financial losses resulting from cryptocurrency trading. It is advised that you conduct your own research.
Hot