Artificial intelligence (AI) has been driving new use cases across industries and the crypto sector has not been left behind in following the trend. The combination of blockchain and AI has sparked innovative crypto projects where more people can tap into the benefits of tokenized assets.
With the global AI sector set to grow at a CAGR of an estimated 37% till 2030, innovators are tapping into the AI boom and developing utility-centric models. The use of AI in cryptocurrencies paves the way for a greater scope of monetization, decentralization, and scalability of Web 3.0 infrastructure.
If you look at the current market, many AI-led tokens have joined the league of top crypto coins. These tokens are being preferred by different user groups as they have versatile models and robust security frameworks.
If you are interested in knowing if AI-driven cryptocurrencies are worth the hype, just read along to learn about the key features of five high-rated tokens.
1. InQubeta: The best altcoin for AI enthusiasts
InQubeta is an Ethereum-friendly crowdfunding platform where crypto users can find bona fide AI projects to invest in. The platform has a strict screening process for startups and a transparent model for facilitating investments.
The only mode of payment within the InQubeta ecosystem is its native cryptocurrency, known as the QUBE token.
The token has created quite a buzz among crypto users rushing to buy it on presale. So far, InQubeta’s cryptocurrency ICO has raised over $13.3 million.
The native token’s supply has an upper cap of 1.5 billion and the stock is split across use cases to ensure InQubeta’s optimal development. Even though 65% of the tokens are meant to be sold via public sales, the rest will be plowed back into the ecosystem to pay for operational expenses.
Whether it’s paying the legal fees, developers, or financing a marketing campaign, any operational expense is paid from the corpus.
The only formality that startups are required to complete is to submit an investment proposal with key information about their projects. This information is minted into an NFT and then put up for sale at the online marketplace.
These NFTs represent startup projects and they can be fractionalised for ease of investments. Before making a purchase, buyers need to ensure that they have an ample balance of the QUBE token.
The top altcoin’s resourcefulness isn’t limited to crowdfunding. It helps startups scale their projects by roping in mentors and seeking help with branding strategies. The InQubeta community comprises professionals from multiple fields and vast experience.
There are seasoned veterans from the AI industry who can guide startups and share valuable insights. Those with a marketing background are an important resource for spreading awareness about a brand.
If an enterprise’s marketing team is stuck, they can always brainstorm with these professionals for clarity. There will also be a team of accounting experts always available to help startups struggling with a financial tangle.
The QUBE token can unlock multiple opportunities for earning passive income. Key among them is its staking service. Staking might not always be the most lucrative option for crypto users but it’s ideal for times when people are not sure about what to do with the asset. By staking a cryptocurrency, they can earn rewards just by owning an asset.
Staked assets are used to ensure optimal liquidity while bolstering the platform’s growth and security. For as long as their tokens are staked, owners will receive rewards from an exclusive pool that’s funded by tax proceeds.
Another reason why people are eager to buy the QUBE token is its deflationary character. The feature can keep token returns stable even as other asset categories are bearing the brunt of inflation or market volatility.
The moment the markets tank, a deflationary asset’s availability is restricted. The more scarce it becomes, the higher its value. The mechanism allows the QUBE token to perform well even when the odds are against it.
If there’s any risk of the supply increasing, it’s countered by burning any additional tokens in circulation. The token burn mechanism is also used for pushing down internal inflation.
As a preemptive measure, 1% of the tax proceeds from all transactions is burned to prevent the token supply from spiraling. The rest is used to sustain the staking service, maintain liquidity levels, and fund marketing activities.
The platform works with a decentralized governance structure where the onus of decision-making falls on token holders. Any suggestion or proposal for a change has to be put to a vote.
Only token holders are granted access to the event and they use their voting privileges to determine if the proposal should be implemented.
Not one to rest on their laurels, the InQubeta team is diligently working towards ensuring a bright future for the platform. In the roadmap for the cryptocurrency, the team has outlined several new initiatives like the launch of a staking dApp that will make it more accessible.
2. SingularityNET releases ASI vision paper
SingularityNET is an online marketplace and publishing platform for creating and monetizing AI-led solutions. Crypto users can pick algorithms from an extensive library and integrate them into different dApps.
With the publishing portal, people can customize and manage these services while scaling them on the global mainnet.
For any transactional purpose, people use the platform’s native token, known as AGIX. It’s a good crypto to buy as the token can be staked to earn a regular stream of passive income.
As part of the upcoming ASI collective, SingularityNET is gearing up for a new inning that will see the platform work on decentralizing the AI ecosystem.
The platform recently released a vision paper for ASI, which highlighted its aim, functions, and objectives.
3. ASI gets the green light from the Fetch.AI community
Fetch.AI is among the best altcoins available in today’s market for anyone interested in AI-driven earning opportunities. The crypto project enables its users to easily create, deploy, and manage AI services.
To facilitate seamless payments, the platform has released a native token called FET.
Fetch.AI was recently in the news after it announced a token merger with two other cryptocurrencies – Ocean Protocol and SingularityNET. As part of the partnership, the three platforms will be creating an AI collective with a higher degree of decentralization.
The collective will be called Artificial Superintelligence (AIS) and will have a market cap of around $7.5 billion.
In March, the Fetch.AI team announced that its community of token holders had approved the proposal for ASI, with 99% of the tokens voting in favor of the token merger.
4. The Render Network unveils the RNP-011 upgrade
The Render Network is a decentralized platform where artists and studios can connect with idle rendering units to use their services. The use of AI infuses more efficiency into the rendering services and leads to the production of high-quality 3D art.
The platform has a native token called RNDR which is used for payment of all rendering gigs.
Once a studio or artist commissions a rendering job, the proposed payment is stored in an escrow and released once the task is completed and up to the satisfaction of the client. The use of escrow minimizes low-quality gigs and prevents fraud.
As an added measure of security, rendered images initially bear a watermark while being sent to the client for approval. The watermark is removed after the transaction is completed.
In a recent development, the Render Network released its RNP-011 which will allow the creation of datasets for training 3D models. For the initiative, the platform would be partnering with Stability AI.
5. Ocean Protocol: Helping people earn with AI data
Apart from being one of the altcoins to watch out for this year, Ocean Protocol is also a part of the ambitious Artificial Superintelligence (ASI). The cryptocurrency helps crypto users earn by tokenizing AI-based services and data.
The platform has been credited with creating earning opportunities throughout the lifecycle of an AI model. With Ocean Protocol, crypto users can earn with feature vectors, raw training data, and cleaned data.
Its key USP is that it preserves the user’s privacy while leveraging AI for multiple services. Its core tech stack is completely decentralized, so developers can deploy smart contracts on permissionless blockchains or support middleware.
Its native token OCEAN comes in handy while dealing with all transactional purposes. The ERC-20 coin has a total supply of 1.4 billion and its availability will increase along with its usage volume.
The ‘Predictoor’ tool is among Ocean Protocol’s highest-grossing features. Using the tool, people can run AI-driven trading bots on price feeds and earn. There are also data farming opportunities available on the platform where OCEAN can be curated and staked.
For those interested in exploring the potential of AI, the platform organizes data science challenges. In these contests, participants have to design AI-based models and they are rewarded for their efforts with cryptocurrencies.
Conclusion
InQubeta, Fetch.AI, SingularityNET, the Render Network, and Ocean Protocol are emerging cryptos that are giving established names a run for their money by making future-looking solutions more accessible for the average crypto user.
Crypto enthusiasts are optimistic about the prospects of these five coins as they have been busy exploring avenues with collaborations and partnerships. The most recent example is the proposed token merger between Fetch.AI, SingularityNET, and Ocean Protocol. Christened as ASI, the collective will offer Web 3.0 projects a decentralized alternative to the regular solutions rolled out by tech giants.
The Render Network has generated global interest with its latest upgrade that will allow the creation of datasets for training 3D assets.
In InQubeta’s case, the uniqueness of its model has been its biggest strength so far. As one of the recommended presales of this year, the crypto project is liberalizing investment in AI space while promoting new-age ideas powered by the technology.