AI - an area that has become familiar and essential in our daily lives. AI is also widely applied in the cryptocurrency market through the emergence of numerous significant AI projects. So, what are AI projects? Which are the top 5 notable AI projects? Let's find out together!
What are AI Projects?
Artificial Intelligence (AI) is a field of computer science focused on creating systems that can learn and think like humans. AI enables computers to recognize images, understand natural language, make decisions, and perform intelligent tasks that previously required human intervention.
In the realm of cryptocurrency, “AI projects” refer to initiatives that integrate AI technology into software, platforms, or blockchain protocols to enhance efficiency and expand the applicability of cryptocurrencies. These projects leverage the synergy between AI and blockchain to create innovative solutions such as faster transactions, enhanced security, personalized user experiences, and other potential applications.
The combination of AI and blockchain is expected to bring new breakthroughs, fostering comprehensive and effective development of the cryptocurrency ecosystem.
Why Should You Care About AI Projects?
The next growth cycle of the cryptocurrency market is anticipated to focus on the trend of Artificial Intelligence (AI). This expectation is based on several factors:
Accessibility and Familiarity: AI technology is easily understandable and familiar to the public through practical applications like ChatGPT, attracting many new investors.
Significant Investment: Leading investment funds such as Delphi, Polychain, and Binance Labs have invested heavily in AI projects over the past year, indicating their confidence in this trend.
Broad Applications: AI is a practical technology widely applied across various fields, not just in the cryptocurrency market, supporting its long-term development and potential.
Endorsement from Influential Figures: Ethereum founder Vitalik Buterin and other major organizations have emphasized the importance and opportunities arising from the combination of AI and Blockchain.
For these reasons, the author believes AI will be the main driver of the next growth cycle in the cryptocurrency market.
Top 5 Notable AI Projects for 2024
1. Worldcoin (WLD)
Founded by Sam Altman, CEO of OpenAI, Worldcoin aims to verify human identity and prevent bot impersonation through retina scans. Using the “Proof of Personhood” mechanism, Worldcoin introduces the “Orb” device to scan retinas and create World IDs, ensuring users are real humans. World IDs, stored securely on the blockchain, guarantee privacy and security.
The Orb operates on zero-knowledge proof technology and AI, scanning users’ eyes and storing AI-analyzed data on Worldcoin servers. The WLD token plays a vital role in platform interactions, from voting on platform changes to paying fees for activities on the World App and transacting goods and services.
Worldcoin promises a new approach to digital identity management, providing a secure and transparent solution for an increasingly digital world.
Worldcoin has successfully raised $240 million from major investment funds such as a16z, Coinbase Ventures, and Blockchain Capital.
2. Arkham Intelligence (ARKM)
Arkham Intelligence offers a groundbreaking solution for analyzing and tracking blockchain data using advanced AI technology named ULTRA. This platform provides detailed and transparent insights into on-chain activities of entities like individuals, investment funds, and exchanges, helping users decode the real identities behind anonymous wallet addresses and accurately track the actions of major traders.
With a mission to provide accurate and up-to-date information, Arkham Intelligence meets the growing informational needs of the crypto community, supporting users in making investment decisions based on on-chain data. The platform helps track money flows, predict market trends, and manage investment portfolios effectively.
The ARKM token, the primary currency in the Arkham ecosystem, is used for data transactions and governance decisions. Additionally, users can earn ARKM rewards by contributing valuable information, referring new users, and participating in other activities to promote Arkham’s development.
Arkham has successfully raised $14.5 million from major investment funds like Binance Labs and Coinbase Ventures.
3. Fetch.AI (FET)
Fetch.AI (FET) is an advanced blockchain protocol focusing on applying AI and Machine Learning to create a decentralized digital ecosystem. This project supports the Useful Proof of Work consensus model to optimize performance and minimize the environmental impact of mining.
Fetch.AI facilitates interactions between various components of the digital economy, including data, hardware, services, people, and infrastructure. This is achieved through three core layers: Autonomous Economic Agents (AEA), Open Economic Framework (OEF), and Smart Ledgers, which efficiently connect and manage resources.
The FET token plays a crucial role in the system, used for staking and becoming nodes to process transactions and operate the system. Additionally, FET is the medium for Agents to access and interact with Fetch.AI’s digital world, including AI and ML services. FET is also used as Gas Fee for transactions and value exchanges between Agents.
Fetch.AI promises a new world of intelligent interactions between digital resources, facilitating the development of the digital economy through blockchain and AI technologies.
Fetch.AI has successfully raised $55 million from investment funds such as DWF Labs and Bitget.
4. LayerAI (LAI)
LayerAI is a dedicated blockchain network for data monetization within AI models.
LayerAI functions as a sophisticated ecosystem designed to accelerate the rise of the data economy by leveraging cutting-edge advancements in both web2 and web3, along with a tokenized economic framework.
The LayerAI ecosystem empowers individuals to step into a transformative era where they can own, control, and capitalize on their most substantial digital asset – Data.
The main components of the LayerAI ecosystem include:
zkRollup Layer-2 blockchain network, built with PolygonCDK
LayerVPN, a VPN functioning as a node
KyotoX, a decentralized exchange and lending platform for AI projects
Layer Marketplace, an NFT marketplace to transact Data Capsule NFTs
LayerAI App, a data economy app to purchase/sell Data Capsule NFTs and collect rewards
LayerAI establishes data as an emerging asset class, contributing to a trillion-dollar global data & AI economy.
LayerAI has raised $13.15 million, led by DWF Labs.
5. Sleepless AI (AI)
Sleepless AI is a unique GameFi project combining artificial intelligence (AI) and blockchain to offer a novel experience through two main AI characters, HIM and HER. This project creates a virtual space where users can interact and converse with virtual “boyfriends” or “girlfriends” through missions and minigames. Players can customize characters with NFT items on the Sleepless AI marketplace or NFTPrompt, providing diverse content and story experiences in the game.
With support from Binance Labs and significant potential in combining AI and GameFi, Sleepless AI promises to be a pioneering project in elevating gaming experiences to a new level.
Sleepless AI has raised funds in two rounds from Binance Labs and Folius Ventures, though the amount was not disclosed.
Where to Buy AI Project Tokens?
Currently, four out of the five projects listed above are traded on Binance: WLD, ARKM, FET, and Sleepless AI.
LayerAI is traded on MEXC, Gate.io, and other platforms.
Conclusion
AI is an unmissable narrative in the upcoming growth cycle of the cryptocurrency market. Following the Metaverse hype in the previous surge, AI is likely to become the next surprising phenomenon.
The biggest advantage of the AI trend is its accessibility to most investors. AI technology has penetrated daily life through practical applications like the ChatGPT assistant. This makes it easier for people to recognize the immense potential when combining AI with blockchain.
Hopefully, through the article “Top 5 AI Projects Worth Investing in 2024”, readers will gain more information about the TOP 5 AI projects not to be missed in the Crypto market. If you have any questions, please leave a comment below for immediate assistance!