1. Render (RNDR)
Market cap: $US3 billion
Render Network is a decentralised platform that connects artists and creators with powerful computer resources to help them create high-quality 3D graphics and animations. The platform allows people to pool unused computing power, which can then be used by creators for a fee. The platform uses its own cryptocurrency, RNDR, to reward users who contribute their computing power and to facilitate transactions within the network. With applications in fields like gaming, virtual reality, and the metaverse, Render Network is making it easier for artists to create visual content without the need for expensive hardware.
RNDR was trading at $US7.92 as of April 20, 2024, down from its recent peak of $US13.60 in March.
2. Bittensor (TAO)
Market cap: $US2.9 billion
Bittensor aims to create a neural internet by revolutionising the development of machine learning platforms. The project is establishing a peer-to-peer marketplace for machine intelligence where AI models can combine their intelligence, essentially creating a “digital hive mind.” This innovative, decentralised method is designed to enable swift expansion and sharing of knowledge among AI systems.
As of April 2024, TAO was trading at $US442, down from its recent peak of $US676 at the start of the month.
3. The Graph (GRT)
Market cap: $US2.46 billion
The Graph is a protocol for indexing and querying data from blockchains in a similar way that Google indexes and queries data from websites. Indexing blockchain data can be challenging, but The Graph aims to change that by organising data into smaller ‘subgraphs’.
Its native, Ethereum-based cryptocurrency, GRT, was trading at US$0.26 as of April 20, 2024, down from its February 2021 peak of US$2.34.
4. Theta Network (THETA)
Market cap: $US2 billion
Theta Network is a decentralised blockchain platform that combines the Theta Blockchain and the Theta Edge Network to provide infrastructure for AI, media, and entertainment applications. The Theta Blockchain supports smart contracts and is compatible with the Ethereum Virtual Machine (EVM), while the Theta Edge Network offers distributed GPU computing power for various tasks. Theta utilises a dual token system, with THETA as the governance token and TFUEL as the operational token. The platform is supported by a network of enterprise validators and partners from the technology and entertainment industries.
As of April 20, 2024, one THETA token was trading at $US2.08 and the project’s operational token TFUEL was at $US0.087.
5. Fetch.AI (FET)
Market cap: $US1.8 billion
Fetch.ai is an AI and machine learning platform based on the blockchain. Fetch.ai is all about automating business tasks such as data processing and trading. Its native cryptocurrency, FET, is used to pay for transactions on the network. Fetch.ai recently proposed a merger with SingularityNET and Ocean Protocol, which is currently going through the process of approval. The three-way merger has been dubbed the “Artificial Superintelligence Alliance” and if it goes ahead, the tokens of all three projects will become amalgamated under the one token “ASI”.
As of April 20, 2024, FET was valued at $US2.16, down from its peak of $US3.47 from last month.