Artificial intelligence () has been the buzz-phrase of 2023 so far and it won’t likely fizzle out any time soon. With the rising popularity and accessibility of tools like OpenAI’s ChatGPT, more people are being exposed to AI than ever before. Some think its the beginning of a Black Mirror episode. Others see AI as the beginning of a new era of industrialization, streamlined for the Internet Age. One group welcoming the tech with open arms is, unsurprisingly, the crypto crowd. Now, these investors are piling into AI cryptos — some useful, some just hype — in order to make a profit.
The breadth of artificial intelligence’s use cases make it a market with endless possibilities. Using ChatGPT, coders can seek out errors in their work, writers can discover prompts to propel their creativity and students can learn new concepts more easily than parsing through walls of data. With other applications, one can generate art or even audio, given a few prompts.
Naturally, crypto enthusiasts are latching onto this technology as it relates to blockchain. Some are asking AI models what the future is for assets like Bitcoin (BTC-USD). Others are asking these models for financial advice. And developers are leaning toward AI to create new lucrative projects. Some of these projects have been around for a long while, predating the ChatGPT popularity surge. Some are simply capitalizing on the buzz word — and doing so successfully.
So, what are the most popular AI cryptos investors are piling into right now? Here are some of the biggest names thus far:
- SingularityNET (AGIX-USD)
- Fetch.ai (FET-USD)
- Artificial Liquid Intelligence (ALI-USD)
- Ocean Protocol (OCEAN-USD)
AI Cryptos: SingularityNET (AGIX-USD)
As far as AI cryptos’ market capitalizations go, SingularityNET’s (AGIX-USD) AGIX token is unmatched. The project holds more than $420 million in value, coming a long way since it launched in 2018.
SingularityNET hosts a number of different tools on its network and can be thought of as a sort of “AI marketplace.” It uses blockchain technology to publish many AI services, which users can demo, purchase, install and run all on one network. Of course, it comes with many of the bells and whistles expected of a crypto network nowadays, with its own intuitive staking service and metaverse experience as well.
One of the big pluses of SingularityNET from a developer standpoint is that one can upload their AI tool to the network. SingularityNET’s publishing services do well to put the product in front of the right people, who can then download and “train” the AI by expanding its dataset through use.
With the AGIX crypto rising from 4 cents to a high of 65 cents in 2023, this crypto has seen a surge of over 1,500%.
The success of Fetch.ai (FET-USD) and SingularityNET together certainly signifies the trajectory of AI going forward. It seems that, with the popularity of these two in particular, crypto enthusiasts are using AI as a means of automatically negotiating and processing transactions.
Rather than strictly transacting AI tools themselves, Fetch.ai allows individuals from any number of industries to transact with one another without any need for human negotiation. Rather, the Fetch network uses AI to negotiate terms of deals on the behalf of both parties. After agreeing to the terms of the transaction, that transaction is processed on the blockchain using FET.
Fetch.ai’s FET crypto isn’t far behind SingularityNET in size, either. It possesses a $307 million market capitalization. The token has seen a 555% gain between the start of the year and its high of 59 cents.
AI Cryptos: Artificial Liquid Intelligence (ALI-USD)
Like the other AI cryptos described here, Artificial Liquid Intelligence (ALI-USD) and the ALI crypto power a framework for a world of AI-fueled dapps limited only by the creativity of their developers. But, this name does have one bit of technology that could put it at an advantage over others.
The most interesting part of the ALI ecosystem is quite easily its CharacterGPT tool. The tool allows users to describe characters in plain language. Using this prompt, ALI’s AI technology then generates a unique, completely interactive character. Dapp developers can tap this tool to make their very own characters who can serve the needs of users. Even in its infancy, this tool stands to shake up the way developers present their own products and services to their clients.
ALI is one of the youngest of the AI cryptos to represent the surging market. Since the beginning of 2023, ALI has risen by as much as 900%.
Ocean Protocol (OCEAN-USD)
Ocean Protocol (OCEAN-USD) was, for a time, one of the top 100 cryptocurrencies in the world by market cap. Of course, time has passed and things have changed since then. The market’s not quite as bullish as it was in 2021 when this was the case. However, the rise in AI cryptos as a crypto-investing subculture could catapult the OCEAN crypto right back to its former glory.
Ocean Protocol isn’t an AI crypto in the same way as its peers on this list are. It doesn’t use artificial intelligence. Rather, Ocean Protocol deals with something inextricably linked to the AI market: data.
Where SingularityNET is an AI market, Ocean Protocol is a data market. It puts owners of valuable data in contact with consumers who need this data. Seeing as AI needs to continue consuming new data in order to become more robust, one can see where the network’s role starts to come in. AI developers are turning to Ocean to purchase sets of valuable data and to grow the abilities of their tools.
OCEAN has seen the most steady trajectory of the bunch throughout the start of 2023. At its high of 55 cents, the token had gained over 240% at one point this year.
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Read More: How to Avoid Popular Cryptocurrency Scams
On the date of publication, Brenden Rearick did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.