What constitutes the most innovative AI cryptos is difficult to define. Innovation is inherent to the crypto market overall. Digital currency is an innovation in and of itself. The same can be said of AI. This is a highly innovative sector.
So, when two high-innovative technologies intersect, that transformative power perhaps multiplies. That potential is ultimately what has investors’ interest right now. If AI is the future of decision making and information gathering, and crypto is the future of how information is stored and shared, will that result in life-changing returns?
It’s a fair question, and time will tell. For now, all we know is there are simply a lot of interesting and innovative companies and cryptocurrencies at this confluence of this technology horizon.
With that said, here are three AI cryptos I think are wroth investing in right now.
| FET-USD | Fetch.ai | $0.36 |
| GRT-USD | The Graph | $0.15 |
| AGIX-USD | SingluarityNET | $0.42 |
Fetch.ai (FET-USD)
Fetch.ai (CCC:FET-USD) has been around since 2017, launching on Binance in 2019. The premise of the project is to automate various tasks, using AI as well as the project’s data sets. More recently, Fetch.ai is garnering attention for automating mundane tasks utilizing its technology.
Just imagine the value in automating data processing, trading, and the other simple day-to-day tasks across thousands of businesses. If Fetch.ai ultimately builds use cases proving that it can automate such tasks, it’ll be worth a lot more than the $0.36 it costs today.
It’s impossible to accurately quantify what that could mean to businesses in reality. But this technology could clearly reduce labor costs in dramatic fashion. Indeed, it really depends on what Fetch.ai is capable of doing in the future.
That said, it’s safe to say that Fetch.ai has the potential to assist companies in lowering their HR costs. This is true of AI in general. However, the ability for companies to do so, while utilizing the innovation blockchain technology provides, could amplify this effect significantly.
The Graph (GRT-USD)
The Graph (CCC:GRT-USD) may not actually be all that innovative. After all, it is essentially attempting to replicate Google’s search function as a centralized repository for websites. The Graph searches blockchains, and stores their respective data so that users can query said blockchains.
So, while doing what has already been done may not be particularly innovative, it could clearly be very lucrative. Certainly, others have wondered (perhaps aloud) how to create a “Google for the blockchain and cryptocurrency worlds.”
The Graph answers a part of that question by attempting to replicate some of Google’s search functionality. Investors clearly face a lot of risk with cryptos like The Graph. Sure, if it is successful in its mission to do for the blockchain what Google did for search, it’ll be worth a lot.
But at the same time, it feels like we’re entering a new iteration of blockchain evolution. Many investors got burned badly recently, and that will logically cause trepidation around The Graph and other AI/blockchain hybrids.
That said, if The Graph is successful in penetrating this market en masse, this is one of the AI cryptos investors need to watch.
SingularityNET (AGIX-USD)
Rounding out this list of AI cryptos is one that’s garnered significant attention of late. The SingularityNET (CCC:AGIX-USD), like the other cryptos mentioned above, trades for under $1. That low price alone makes it arguably worthwhile for speculators and investors looking to add risk. The project offers a platform and marketplace where users can share, create, and monetize AI services.
SingularityNET is a place where publishers can upload their AI-based decentralized applications and buyers can purchase them. The idea isn’t particularly innovative. Indeed, entrepreneurs have been creating market platforms for a long time. But given that AI is so new, it is a compelling opportunity.
So, if an individual or an organization needs an AI-based dApp, SingularityNET’s marketplace is the one place to search. There are 89 such dApps for sale currently in that marketplace, most of which appear fairly basic. It is possible to demo each of these applications in the marketplace. Users earn AGIX by publishing dApps, and buyers purchase them using AGIX. Thus, this token’s value should increase or decrease alongside transaction volume. For those bullish on the future of AI decentralized applications, AGIX is an AI crypto to consider buying.
Small, low-volume cryptos
On Low-Capitalization and Low-Volume Cryptocurrencies: InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: How to Avoid Popular Cryptocurrency Scams
On the date of publication, Alex Sirois did not have (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.
