What happens when you cross cryptocurrency with artificial intelligence?

The machine mania that sweeps her world ς εν μέσω των λανσαρισμάτων bots όπως το ChatGPT και το Bard έχει φτάσει και στο κρυπτονόμισμα, με το ενδιαφέρον για tokens που συνδέονται με blockchain AI projects να αυξάνεται κατακόρυφα.

bitcoin AI

Average daily volume for the biggest coins, including SingularityNET, Fetch.AI and Render, surpassed $1 billion in early February, setting a two-year record, according to data firm Kaiko.

AI-connected blockchain products cover a range of services including , των μοντέλων συναλλαγών, των μη-φθαρτών tokens που παράγονται από μηχανές και των βασισμένων στην blockchain αγορών για AI, where users pay developers in cryptocurrency.

So far, investment returns are strong. The CoinDesk Indices Computing Index, which includes AI-related tokens, is up 60% this year, with a significant spike in February as OpenAI's ChatGPT saw a surge in usage.

While trading volumes fell in March, they remain above the industry's long-term average and many tokens have significantly outperformed bitcoin with year-over-year returns ranging from 150% to 780%, said Kaiko analyst Dessislava Aubert.

Investment in the sector has also increased, with examples such as CryptoGPT, where users can sell their data to AI companies, which raised $10 million in funding this month.

However, despite strong returns this year, the AI-crypto sector remains niche. The combined market capitalization of CoinGecko's AI-sorted coins is $2,7 billion, eclipsing the total crypto market of $1,2 trillion.

crypto

The potential of AI-connected crypto applications has investors hoping that they can cut through the hype to identify projects that can help solve some problems, drive more users to blockchain products, and guarantee some stable returns.

“Some AI projects could actually end up being the 'killer app' for public blockchains,” said Pranav Kanade, portfolio manager at VanEck.

Some industry observers see blockchain-based marketplaces as offering an easy way for system developers to gain market share and for smaller users to access new AI technology.

SingularityNET has seen the market value of its token soar from $52 million to over $414 million this year.

Other potential long-term use cases include using blockchain as proof to distinguish between AI and human-generated content.

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Written by Anastasis Vasileiadis

Translations are like women. When they are beautiful they are not faithful and when they are faithful they are not beautiful.

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