If you are one of those who keeps tabs on the crypto world, then the ballistic surge of Worldcoin is not unknown to you! Over the past few weeks, the price of Worldcoin ($WLD) has surged by a staggering 150%. In fact, the price of $WLD has spiked to over 200% between February 14-19.
The recent surge in Sam Altman’s $WLD is directly linked to the launch of OpenAI’s new project, SORA. The new technology and the tantalizing possibilities promised by SORA have created anticipation surrounding Worldcoin in the minds of crypto enthusiasts.
Amidst the skyrocketing value of Worldcoin, have you noticed the increasing buzz around AI tokens?
What are AI tokens & what are some interesting AI tokens that are capturing the crypto market?
Let’s find out!
What are AI Tokens?
AI tokens are digital assets that use the power of Artificial Intelligence or AI to enhance scalability, user experience, and security within blockchain networks.
The primary function of AI coins is to power AI-based projects, which may range from market predictions and decentralized marketplaces to portfolio management. Moreover, AI tokens also allow users with governance rights to participate in important decision-making within the network.
AI & Cryptocurrency – Exploring the Potentials
The potential of AI in the world of cryptocurrency is still not realized. However, the increasing attempts to integrate AI and crypto could indicate a bright future.
Here are 4 potential use cases of AI in the world of cryptocurrency:
• Financial automation and customized investment recommendations could help users make better decisions.
• Detecting public sentiments surrounding cryptocurrencies to depict the popular outlook towards the specific digital asset.
• Real-time predictions of digital assets to lower the risk of arbitrary investments.
• Limiting the loopholes of blockchain’s decentralization by reducing the involvement of humans as mediums.
Top 5 AI Tokens by Market Capitalization
Now that you have developed some ideas about the capabilities of AI to revolutionize the crypto world, let’s talk about the top 5 AI tokens by highest market capitalization.
1. Internet Computer (ICP)
ICP allows users to host data, computing, user-experience and content, on-chain. The protocol enables us to develop foolproof enterprise infrastructure, Web3 social media, gaming, and virtual reality.
What’s more? ICP focuses on high scalability and utility with a low carbon footprint. Thus, it is committed to building Greentech Web3 solutions.
At the time of writing this article, the market cap of $ICP stood at $6.67 billion.
2. Near Protocol (NEAR)
Near Protocol incentivizes a network of computers to operate a platform for developers to create and launch decentralized applications, or dApps. Sharding is a primary process used by the protocol. It splits the infrastructure of networks into segments. Thus, the process enables nodes to handle only a fraction of the network’s transactions. The implementation of sharding by Near Protocol makes it more efficient and requires less computing power.
Near Protocol makes the onboarding process of other blockchains easier by building dApps, having a simple registration flow, and having human-readable addresses.
At the time of writing this article, the market cap of $NEAR is $4.73 billion.
3. Injective (INJ)
Injective Protocol is a decentralized finance or DeFi platform that is designed to enhance the secured trading of various digital assets. The platform consists of advanced features such as a decentralized order book for peer-to-peer and permissionless trading without intermediaries.
Prominent blockchain investors and partners have acknowledged Injective Protocol for pioneering “decentralized derivatives.” Therefore, the Injective protocol aims to revolutionize the financial sector with profuse technology and consistent decentralization.
At the time of writing this article, the market cap of $INJ is $3.632 billion.
4. Theta Network (THETA)
Theta Network is a layer-1 blockchain and decentralized infrastructure designed for video, entertainment, and AI. The network’s web3 infrastructure allows media companies to enhance their revenues, user engagement, and new web3 business models.
Theta Video API and Theta Web3 Theatre are turn-key decentralized video APIs for developers that provide substantially cheaper costs for video transcoding, storage, and content distribution, thanks to patented Digital Rights Management technology.
At the time of writing this article, the market cap of THETA is $3.07 billion.
5. The Graph (GRT)
The Graph is an open-source, decentralized protocol that uses distributed ledger technology to collate data independently without the need for intermediaries.
This protocol serves as a global APU (Application Programming Interface) that indexes and organizes data efficiently. It employs the GraphQL language to make things easier to access and process.
Just like how Google indexes the web, The Graph protocol indexes blockchain data. To eliminate the challenge of swift query responses posed by indexing blockchain data, The Graph uses subgraphs to retrieve data from the blockchain effortlessly.
At the time of writing this article, the market cap of GRT is $2.77 billion.
Wrapping it Up!
AI tokens have sparked a new possibility in the crypto world. Blockchain-based projects with AI integration are capturing more attention and promising to offer more value.
However, it’s too early to draw a general conclusion about the influence of AI on the cryptocurrency industry. AI coins can just remain a trendy element, similar to meme coins. Nevertheless, the surging anticipation relating to AI tokens is noteworthy, and its consequences are worth seeing.
*The information on this website does not constitute trading, investing, or financial advice.*
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