What are AI tokens?
AI tokens ("tokens with artificial intelligence") are, as a rule, ordinary management tokens for projects that rely on the use of AI technology in their work. As it is, they are not much different from others. They also use blockchain. AI tokens are sold on The same ones platforms like other coins, be it bitcoin, ether and others: Coinbase, Binance, KuCoin etc. Let's look at the largest and most popular projects related to AI solutions.
Near Protocol (NEAR)
Near Protocol – this is a protocol that is designed for creators of decentralized applications. The team says that it contributes to the development of Web3 solutions. And it uses artificial intelligence for this purpose. About this often mentions in his interviews, one of the co-founders of Near Protocol, Ilya Polosukhin (Illia Polosukhin). NEAR – utility is an ecosystem token whose role is to maintain the safety of the network. The consensus algorithm here is Proof-of-Stake (PoS). The total supply of NEAR at launch in 2020 was 1 billion. However, it was determined in advance that the volume of coins would increase by 5% each year. In other words, the emission of NEAR is not limited. Tokens can be purchased on Binance, OKX, Bybit and other major crypto exchanges. Near Protocol is in 18th place ($6.3 billion) in terms of market capitalization among all cryptocurrencies, as of early May 2024.
Render (RNDR)
Render – this is a special GPU rendering platform. In other words, it is a place where graphic artists in need of computing power intersect with those who are ready to provide them. RNDR – utility token. It is used by artists to exchange for the same computing power. The RNDR is based on the ERC-20 standard. The token has a limited issue: the maximum offer is 536 million RNDR can be purchased on such platforms as Binance, Kraken, Gemini and others. As of May 1, 2024, this cryptocurrency ranks 36th ($2.7 billion) by market capitalization among all.
Bittensor (TAO)
Bittensor – a machine learning platform for artificial intelligence. The platform went further than its competitors and introduced its own consensus mechanism – Proof-of-Intelligence. This is a kind of hybrid of traditional Proof-of-Work (PoW) and PoS. There is no need to solve mathematical problems in Proof-of-Intelligence. Instead, it is necessary to respond to machine learning tasks to demonstrate intelligence. The more accurate the model, the more likely it is to receive TAO tokens. The offer is limited to 21 million. TAO gives users the ability to extract information from the network. Tokens can be purchased on such platforms as KuCoin, CoinEx and Gate.io As of May 1, Bittensor ranks 43rd ($2.3 billion) by capitalization.
The Graph (GRT)
The Graph – an indexed protocol that is used to request data from the blockchain. It is used in the creation of De-Fi applications and Web3 development. The GRT token is used to ensure network security and the integration of subsequently requested data. The standard is ERC-20. There is no specific clarity in the draft regarding the proposal. On the one hand, the creators claim that it should not exceed 10 billion coins in the main network. On the other hand, they say that the release of new tokens in the form of indexed awards will occur at 3% annually, and in the future it can be technically changed. In short, in short, you can release GRT indefinitely. It is possible to purchase tokens on the crypto exchanges Binance, Kraken, Bitfinex and others. By capitalization, The Graph ranks 46th ($2.2 billion) among all cryptocurrencies.
Injective (INJ)
Injective – a platform for creating financial decentralized applications. The INJ coin is used for management here. It has its own PoS–based consensus mechanism, Tendermint. It allows you to maintain a fairly high transaction processing speed – up to 10,000 TPS (transactions per second). The offer is generally unlimited, but the project actively uses the token burning mechanism. By early May 2024, the creators had already destroyed more than 5 million INJ. You can purchase a coin on platforms such as Binance, Bitget, Bybit and others. By market capitalization, Injective ranks 47th ($2.1 billion).
Theta Network (THETA)
Theta Network – it is a network providing infrastructure for video, artificial intelligence and entertainment. THETA is the platform's management token of the same name. It is mainly used when working with nodes and voting. To pay transaction fees and deploy smart contracts, Theta Network has another token, TFUEL. THETA's issue is limited to 1 billion coins. You can buy a token on most major sites, and THETA is most popular with customers Gate.io . By market capitalization, Theta Network is ranked 48th ($1.9 billion).
Total
Artificial intelligence has penetrated quite deeply into the crypto industry. Various projects (De-Fi, video, for artists) are actively implementing new technology. However, the tokens of all these platforms are not very popular among investors. None of the coins are in the top 10 by market capitalization, only one representative is in the top 20 and only six cryptocurrencies are in the top 50.
This material and the information in it do not constitute an individual or other investment recommendation. The editorial board's opinion may not coincide with the opinions of the author, analytical portals and experts.