Authors: Xiyu, ChainCatcher
Editors: Marco, ChainCatcher
On February 16th, OpenAI released the text-to-video generative AI model Sora, which can generate coherent videos up to 60 seconds in length based on text information. Its generation capability and video presentation maturity have not only amazed global users but also reignited the outside world's imagination of artificial intelligence.
With the help of the Sora craze, AI-related cryptocurrency assets have entered a significant uptrend. Among them, Worldcoin, an iris-verified encryption project created by OpenAI founder Sam Altman, saw its token WLD price surge from $3 on February 16th to a high of $7.9 on February 19th, more than doubling in price within three days.
On February 22nd, the WLD token price broke through $8, reaching $8.29 at the time of writing, with a 30% increase in the past 24 hours, and its market value also surpassed $1.047 billion. The rise in WLD token price further fueled the narrative heat of the AI encryption track.
On February 15th, Stocklytics reported that the total market value of AI-related cryptocurrencies has exceeded $12 billion. The report monitored nine AI cryptocurrencies, including Bittensor (TAO), Render (RNDR), Akash Network (AKT), Fetch.ai (FET), CorgiAI (CORGIAI), SingularityNET (AGIX), Echelon Prime (PRIME), Ocean Protocol (OCEAN), and OriginTrail (TRAC).
According to the latest data from Coingecko on February 22nd, the total market value of AI-related crypto assets has reached $17 billion.
In addition to the well-known AI-related crypto assets such as WLD, FET, RNDR, and AGIX, there are also some lesser-known new project assets in this sector, with impressive data performance. Examples include Arkham token ARKM, an AI data platform under Binance; AGI, an AI agent service project; TAO, an AI model incentive platform; and LAI, an AI data tokenization platform. The token assets of these projects have all risen by over 100% in the past seven days.
So, what are the new AI encryption projects currently in the cryptocurrency market? What opportunities are available for users to participate?
AI Infrastructure
1. AI Model Open Incentive Platform Bittensor (TAO)
Bittensor is one of the earliest projects to start in the current AI encryption market. The TAO token price surged from around $200 on January 15th to over $700 on February 16th, with an increase of over 3 times.
As of February 22nd, TAO was priced at $623, with a circulating market value of $3.9 billion, ranking 25th in the entire crypto market.
In November last year, well-known crypto VC firms Pantera and Collab Currency publicly announced that they had become holders of TAO tokens and would provide more support for the project's ecological development.
Bittensor uses blockchain networks and token incentive mechanisms to schedule and select different algorithm models, creating a free competition and knowledge-sharing algorithm (model) market in the AI field. The platform aims to enable different AI algorithms and models, such as image processing, text processing, or audio processing, to collaborate, learn, and combine to form more powerful models, better serving developers and users.
In simple terms, Bittensor does not produce algorithm models but acts as a carrier for high-quality algorithm models. Through the token incentive mechanism of the blockchain, it can screen a better algorithm model for users from existing algorithms.
In terms of product design, Bittensor adopts the parallel chain (subnet) architecture of Polkadot. Each AI algorithm model can serve as a chain (subnet), and then a separate chain is used specifically to handle the collaboration of AI models, with the platform token TAO used for incentives.
The specific operation mechanism includes four roles in the Bittensor ecosystem: miners, validators, model users, and developers. Miners are providers of various AI algorithms and models, validators evaluate the quality and effectiveness of AI models in the Bittensor network, and users are the final users of AI models, requiring a certain amount of TAO tokens for usage.
For Bittensor, the project itself does not perform model data calculations or provide data for machine learning on the chain. Instead, it mobilizes all off-chain AI models to collaborate with each other through a token incentive mechanism to screen a better algorithm model for users. The mechanism is similar to oracle projects that use incentive mechanisms to encourage competition and select better data sources.
2. AI Agent Service Platform Olas Network
Olas Network (formerly Autonolas) is a unified network for automated AI agent services in the encryption industry. Its business is to design AI agents for users, providing a composable stack for building these autonomous services to handle tasks in different scenarios.
An AI Agent agent is an artificially intelligent agent that acts in an intelligent manner, perceiving the environment and taking actions autonomously to achieve goals. For Autonolas, its mission is to provide developers with a platform for building autonomous services in the encryption industry and to provide them with a series of toolkits and framework products to simplify their work and processes.
Based on the products collection on the Autonolas official website, various autonomous services created on this platform can be used for tasks such as portfolio management, data analysis, market prediction, forecasting APY yields for certain protocols, formulating trading/revenue strategies, acting as oracles to provide more accurate off-chain data, assisting DAOs in governance, automatically managing operational smart contracts, and establishing DeFi liquidity pools.
OLAS, the native token of the Autonolas platform, was launched in July last year. As of February 22nd, it has seen a 37% increase in the past 14 days, with a current price of $5.27 and a market value of $256 million.
3. AI Data Annotation and Training Platform AIT Protocol
AIT Protocol is an AI data infrastructure primarily used for data annotation and AI model training, allowing cryptocurrency users to contribute to AI model development and training through participating in "Train-To-Eran" tasks and receive rewards.
In the past 14 days, the native AIT token of AIT Protocol has surged by over 300%, with a current price of $0.65 as of February 22nd and a market value of $54.92 million.
Last December, AIT Protocol announced the completion of a new round of financing, with the specific amount undisclosed. MorningStar Ventures, Megala Ventures, Alpha Protocol Ventures, and a group of angel investors participated in the investment.
4. AI Data Tokenization Platform LayerAI Token
LayerAI (formerly CryptoGPT) is a Layer2 network built using zkRollup technology, dedicated to the monetization of AI data and also an "AI to Earn" project that helps users turn every data task in their daily lives into a source of income.
Within the LayerAI ecosystem, there are LayerVPN data nodes or dedicated VPN networks. Users who download and configure them can earn reward tokens by browsing the layervpn.com website. The AI tokenized financial center KyotoX supports trading or lending of any AI data tokens. The native NFT marketplace Layer MarketplaceL allows users to trade Data Capsule NFTs (monetization of user behavior data).
LAI is the native token of LayerAI and also the means of paying gas fees within its network. With a total supply of 3 billion, as of February 22nd, it is priced at $0.03, with a 202% increase in the past 7 days and a circulating market value of $10.7 million.
In April last year, LayerAI announced a $25 million valuation and raised $10 million, with market maker DWF Labs as the lead investor.
AI Cryptocurrency Application Products
- AI Cryptocurrency Search Platform
1. Cryptocurrency Encyclopedia IQ
IQ, also known as IQ.wiki (formerly Everipedia), is an encyclopedia of the blockchain and cryptocurrency world, with thousands of wiki entries on all topics and branches of knowledge in the cryptocurrency field, similar to Wikipedia in the blockchain world. It aims to make blockchain more easily discoverable and accessible worldwide and provide users with trusted information.
Currently, IQ products mainly include IQ.wiki (the world's largest cryptocurrency and blockchain encyclopedia), IQ GPT (AI-driven cryptocurrency search engine), IQ.social (an AI-driven cryptocurrency news and social forum center), and IQ Code (an AI tool for coding in blockchain languages such as Solidity and Vyper, helping users write efficient and secure code).
Within the IQ ecosystem, it operates with the $HiIQ and $IQ dual-token system. HiIQ is a staking token generated by staking IQ tokens, similar to Curve's VeCRV token. The balance of HiIQ held by users determines the voting weight of governance proposals in the IQ ecosystem.
Like the VeCRV token, HiIQ is non-transferable and cannot be traded on the open market. However, it has utility value. For example, users need to hold a certain amount of HiIQ tokens to use the IQ GPT for searching cryptocurrency knowledge. Currently, IQ GPT provides early access and advanced features to holders of at least 100,000 HiIQ tokens.
IQ is the native token within the ecosystem and provides initial support for Dapp applications within the ecosystem. The maximum supply of IQ tokens is 21 billion. As of February 22nd, the IQ token is priced at $0.0075, with a 30% increase in the past 24 hours and a circulating market value of $136 million.
2. Web3 Knowledge Sharing Platform QnA3.AI
QnA3.AI, also known as QnA3, is an AI-driven Web3 knowledge sharing and search platform aimed at providing accurate cryptocurrency knowledge to users. It is also one of the projects incubated by Binance Labs in the sixth season and is built on opBNB.
QnA3.AI not only provides information access and retrieval but also offers complex logical analysis functions for user decision-making in trading, among other activities.
On February 21st, QnA3.AI announced the first round of token airdrop for the QNA token. Interaction records and points will determine the user's share of the airdrop, and users can earn points by asking AI questions or voting on questions.
According to the official statement, users who meet any of the following three conditions have the opportunity to qualify for the airdrop:
Active participants: Participants with sufficient activity before the first snapshot on January 25, 2024, will receive rewards. Early bird users who joined before December 3, 2023, will receive additional graded rewards based on their activity level.
Outstanding interactive participants, including daily voting, check-ins, asking questions, and mining.
Global ambassadors, and more.
The QNA token has various applications, such as obtaining additional query quotas for facilities like the TG Bot, using QNA tokens for the new "horse racing" feature to predict and bet on popular questions of the week, and purchasing advertising space on the trend search list.
3. Web3 Search Engine Kaito
Kaito is an AI-driven Web3 search engine dedicated to solving the problem of fragmented information in the cryptocurrency field. It aims to change cryptocurrency research and investment information access by using AI technology to aggregate and index thousands of high-quality web3 resource libraries that traditional search engines like Google cannot reach, including Twitter, Discord, governance forums, research, news, podcasts, Twitter Spaces, and conference records, and transform terabytes of unstructured data into searchable and readable insights to help users make wiser decisions.
Kaito's flagship product is MetaSearch, which aims to provide instant insights by searching for any topic or project trend in the cryptocurrency world across platforms such as Twitter, Discord, governance forums, Mirror, and Medium through a one-stop product search function.
In addition to aggregating information, MetaSearch optimizes its search engine using AI through ranking, topic mining, personalization, recommendations, speech-to-text transcription, and AI-generated content, and integrates ChatGPT/GPT-3.
Currently, MetaSearch is a paid search product, and users need to pay a fee to use it, with the standard version priced at $99 per month, the professional version at $333 per month, and the elite version at $833 per month.
In June last year, Kaito launched the beta version of the cryptocurrency search engine "WHAT," which combines Auto-GPT, advanced large language models (such as GPT-4), and Kaito's proprietary real-time cryptocurrency search engine.
According to the cryptocurrency data platform RootData, Kaito has completed two rounds of financing totaling over $5 million. The first round was completed in February last year with a valuation of $40 million and raised $5.3 million in seed funding, led by Dragonfly, with participation from Sequoia China and Jane Street. The second round was completed in June last year with a valuation of $87.5 million and raised $5.5 million in Series A funding, led by Superscrypt and Spartan.
Currently, Kaito has not issued tokens.
- AI Creation Platform
1. AI Robot Creation Platform MyShell
MyShell is an AI robot content creation platform based on opBNB, allowing users to easily discover or create various applications or robots based on natural language processing technology, such as voice chatbots, language learning assistants, image generation tools, etc. It is also one of the selected projects in Binance Labs' sixth season incubation program.
MyShell provides templates and tools that allow users without programming knowledge to create their own AI robots or tools through simple configurations, aiming to be a no-code robot creation platform.
Building a simple bot on the MyShell platform only takes 5 minutes, and users can also customize the bot's avatar, skin, voice, etc.
Currently, MyShell mainly features three types of robot technologies, including voice interaction robots, video animation and virtual humans, and image generation.
The voice interaction technology supports users to customize the voice style of the robot and also supports voice chat and language learning functions. For example, the Emma robot created by MyShell is designed for English beginners, allowing users to have English conversations with it through messaging and calls, and it can also serve as a virtual girlfriend companion.
Video and virtual human (avatar) technology enables video chat functionality. For example, the Shizuku robot is the first virtual character with Live2D functionality, allowing users to video chat with her and observe her Live2D facial expressions.
Image generation provides text-based image generation functionality, allowing users to generate images through language descriptions and supporting multiple generation model schedules. For example, the Avatar Magician robot is an AI assistant that can help users quickly create beautiful avatars.
According to the cryptocurrency data platform RootData, MyShell completed a $5.6 million seed round financing in October last year with a valuation of $57 million, led by INCE Capital, with participation from HashKey Capital, Folius Ventures, SevenX Ventures, OP Crypto, and others.
Currently, MyShell has not issued tokens, and users can earn points by participating in the platform's seasonal tasks.
NFPrompt is an AI-driven NFT art generation platform that allows users to easily create stunning works by providing prompts and generate NFTs with ownership confirmation in one click. It is also one of the incubation projects in Binance Labs' sixth season.
Currently, the NFPrompt platform offers five different AI-empowered creation tools for images, videos, pfp, music, and more, allowing anyone to easily create NFTs for collectors and enthusiasts to buy, sell, and convert into fiat currency earnings in the real world, providing a good example of AI asset monetization.
As of February 22nd, the NFPrompt platform has accumulated 4.95 million creators and generated 2.66 million NFT works.
In December last year, NFPrompt (NFP) launched the 41st phase of the Binance new coin mining Fair Mode project, with an initial issuance of 1 billion NFP tokens, currently priced at $0.74, with a 40% increase in the past 14 days and a circulating market value of $179 million.
Arkham is an AI-driven blockchain intelligence and data analysis platform that provides detailed information and visualization tools for on-chain activities.
In July last year, Arkham launched "AI Entity Prediction" and the AI assistant Arkham Oracle for on-chain analysis, supporting users to search, filter, and sort cryptocurrency transactions and trades by value, token, time, and counterparty.
In the same month, Arkham announced the launch of the 32nd phase of the Binance Launchpad project and in November last year, Binance Labs invested in Arkham's native token ARKM.
The total supply of ARKM tokens is 1 billion, currently priced at $1.34 as of February 22nd, with a 130% increase in the past 14 days and a circulating market value of $240 million.
Sleepless AI is a virtual companion game based on AI blockchain, using AIGC and LLM to create rich story-based gameplay, and is also one of the incubation projects in Binance Labs' sixth season.
In Sleepless AI, there are two games: virtual boyfriend "HIM" and virtual girlfriend "HER" love games. Currently, only the virtual boyfriend game "HIM" has been launched, which is a love simulation game targeting female audiences, with each character being a unique SBT character.
In December last year, Sleepless AI launched the 42nd phase of the Binance new coin mining project and announced the completion of a new round of financing led by Folius Ventures in the same month, with the specific amount undisclosed.
AI is the governance token within the Sleepless AI game, used for voting on game content and future directions, upgrading game props, purchasing accessories or clothing for the boyfriend, and more.
The total supply of AI tokens is 1 billion, currently priced at $1.85 as of February 22nd, with a 58% increase in the past 14 days and a circulating market value of $240 million.
Delysium is both a Web3 game publisher and an AI-driven open-world framework.
In March last year, Delysium launched a 3A-level MMORPG blockchain game on Epic Games, aiming to build a virtual world where 1 billion people and 100 billion AI virtual creatures coexist on the blockchain.
In this virtual game, AI-driven virtual characters, MetaBeings, also known as virtual natives, can be created by everyone. They can serve as players' digital identities, companions, and NPCs. In addition to playing games together, players can interact with their AI virtual creatures through natural language conversations, learn about cryptocurrencies, check and trade cryptocurrency assets, and discover cryptocurrency opportunities.
Due to Delysium's parent company rct AI being an AI-focused company, AI-driven genes are embedded in Delysium.
In November last year, Delysium released the V2 version of the whitepaper, using AI to create a user-intent-centered AI Agent Network for Web3, which can accurately capture user intent and efficiently complete tasks through automated workflows.
Currently, Delysium has launched two AI products: Delysium AI and Lucy. Delysium AI supports any user to create their own AI-Twins virtual people, allowing players to interact with AI virtual people, learn about cryptocurrencies, check and trade crypto assets, discover cryptocurrency opportunities, and receive risk warnings through natural language conversations.
Lucy is an AI-driven Web3 operating system and AI Agent that can call various encrypted DApps through conversation, including but not limited to complex combinations of operations such as asset inquiries, transfers, staking, swapping, cross-chain, and more.
For example, users can use Lucy to help transfer some ETH, BNB, or any tokens they own to another address. Users only need to give instructions to Lucy, provide the target address, the name and quantity of the tokens to be sent, and then Lucy will help them complete the operation.
Currently, there are two tokens, DMA and AGI, within the Delysium ecosystem.
DMA is the utility token for the metaverse game within the Delysium ecosystem, and it is also the membership qualification for the Delysium Multiverse Accelerator. It can be used to select, vote, and support the development of each Delysium AI framework world, share the benefits of the entire ecosystem, and enjoy exclusive benefits and privileges, including but not limited to income sharing within the ecosystem, early access to various AI applications and airdrop opportunities, and the right to prioritize joining various Web3 content released through decentralized publishing protocols.
AGI is the governance token for artificial intelligence within the Delysium ecosystem. Users can earn tokens by staking AGI, and the quantity of DMA tokens held will determine the speed of AGI production. Overall, the functionality of DMA is similar to VeCRV.
The maximum supply of AGI is 3 billion tokens, currently priced at $0.17 as of February 22nd, with a 228% increase in the past 14 days and a circulating market value of $110 million.
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