Author: Arjun Chand, Bankless; Translated by: Deng Tong, Golden Finance
Over the past year, AI tokens have dominated market and mind share, leading many to believe that this is the AI x crypto cycle. However, AI tokens have been trending downwards in recent months, with many falling 25-50% from their local highs.
This isn’t necessarily a cause for major concern, though. Corrections are a rite of passage during crypto bull runs. A pullback after a big rally is actually beneficial for long-term performance because it can shake off weakness and set the stage for the next phase of the cycle.
The real question is: Which upcoming developments among the top AI x crypto projects could reignite the flame? Let’s find out!
Render x Apple
At this year's WWDC, Apple unveiled Apple Intelligence, a new suite of AI features available across all its devices. This isn't surprising, as all the big tech giants are jumping on the AI bandwagon. The real standout was OctaneX, a 3D design software powered by Render Network that debuted on the latest iPad Pro.
OctaneX on iPad can use distributed GPUs from the Render Network. Millions of Apple users now have access to unprecedented rendering power. Imagine creating Hollywood-grade CGI on an iPad — that’s the access Render and Apple are enabling.
The integration with Apple is a big win for Render. It’s a validation of Render’s technology and vision. Apple is basically saying, “Hey, this Render Network is legit!” This could attract a whole host of new developers and creators to the platform, further boosting the network’s growth.
As the new Apple software becomes available later this year, it could be a big catalyst for Render as it will unlock a massive new user base for the network. And the best part is: more users using OctaneX means more demand for Render services and a higher value for the RNDR token. We’ve already seen price increases in the news; this could be a hint of future trends, so keep an eye on Render.
Subnet Tokens on Bittensor
One of the main criticisms of Bittensor is that currently a small group of validators decide how TAO rewards are distributed across subnets. The BIT1 proposal (also known as Dynamic TAO) addresses this issue.
Dynamic TAO is one of the most anticipated proposals in Bittensor’s history, second only to the launch of subnets last year. It brings fundamental changes to the network:
Power of TAO Holders - Currently, a small number of validators decide how TAO rewards are allocated to subnets. This is not entirely fair or efficient as it can be influenced by the bias of a small number of entities. Dynamic TAO changes this by giving all TAO holders a say in how rewards are allocated to subnets. Imagine a network where everyone can influence how AI resources are allocated - this is the future Bittensor wants to build.
Dynamic Market for Subnets – With a dynamic TAO, each subnet will have its own token, the value of which will be determined in the open market. This incentivizes subnets to perform well and provide valuable AI services. No more dead wood — only the most efficient subnets will grow. This also adds a speculative element to the Bittensor ecosystem, gamifying network participation for TAO holders and injecting market forces into the growth of each subnet.
Dynamic TAO is now live for testing and is expected to be fully launched soon. The introduction of crypto incentives at the subnet level could be a big catalyst for Bittensor. This is a major step forward for Bittensor, giving token holders and subnets a real say in shaping the future of decentralized AI.
User-Owned AI on NEAR
Forget the meme of the NVIDIA founder touching the arm of the NEAR founder, NEAR recently announced the next phase of its roadmap: making NEAR the home for user-owned AI.
This is not just hype. The NEAR Foundation is putting its promises into action. They are setting up a dedicated research lab (NEAR.AI), attracting top AI talent to develop AI x crypto applications, and an incubator and investment arm focused on AI projects.
They are also building infrastructure for developers to build user-driven AI applications, such as tools for data collection, rewarding creators, and monetization, while bringing the value of crypto to AI.
NEAR’s focus on “user-owned AI” could be a big catalyst for the project’s future growth. The team believes their existing user base, developer ecosystem, and funding could make them a leader in the user-owned AI space.
Summarize
While the recent market correction may have dampened some enthusiasm, the AI x crypto space remains vibrant. Take a look at these three projects: Render, Bittensor, and NEAR. Each project is solving a specific problem, and as they execute on their roadmaps, things will get exciting again.
These are just a few examples. There is an interesting ecosystem of projects emerging at this intersection that are all building useful products.
Plus, there are external factors to consider. OpenAI could make a breakthrough at any moment. Nvidia’s revenue is soaring. Every time a major player makes a move in AI, it sends shockwaves through the field.
The question isn’t whether AI and encryption will become a big trend. It’s how big it will be. No one knows for sure, but one thing is for sure: it will be fun.
