The AI ​​track is booming. Which AI concept coins are worth paying attention to?

Since Microsoft acquired OpenAI for $10 billion and Bill Gates declared that "the historical significance of artificial intelligence is no less than the birth of the Internet" , ChatGPT has become the fastest application in history to reach 100 million users - in just three months. As time goes by, more and more stories about ChatGPT are fermenting: Office and Azure integrate ChatGPT, Google invests $300 million in ChatGPT competitor Anthropic, using ChatGPT to make money, and major universities ban AI writing, etc.

In the market, the share price of BuzzFeed, the US version of Toutiao, soared 300% in two days just because of the CEO's statement that "AI content will be part of the core business". iFlytek, with a market value of nearly 100 billion yuan in A shares, rose 50% in 10 trading days. Hanwang Technology has become a monster.

Artificial intelligence (AI) mainly includes three elements, namely data, algorithms and computing power. Data is the foundation. It is precisely because the amount of data in actual applications is increasing that traditional computing methods and hardware are difficult to meet the requirements, which has led to the implementation of AI applications. Back to the crypto market, under the recent active market sentiment, AI concept coins have taken advantage of the east wind and made remarkable market performance. Let us sort out the current active AI-related projects in the market and their market performance.

Data Concept Coin

The Graph (GRT) (24 h + 16.5%)

The Graph is the indexing and querying layer of Web3. Developers build and publish open APIs, called subgraphs, that applications can query using GraphQL. The Graph currently supports data indexing for 39 different networks and is adopted by mainstream applications such as Uniswap, Synthetix, Art Blocks, Gnosis, Balancer, Decentraland, etc.

The Graph's native token, GRT, is used to ensure the integrity of data within its network. Any user, whether a subgraph developer, node operator, or delegator, must stake GRT to perform their duties and earn fees from the network in return. The initial supply of GRT is 10 billion GRT, while new tokens are provided as indexing rewards at an annual issuance rate of 3%. The Graph will destroy withdrawal taxes charged to subgraph developers and 1% of the total protocol query fees.

Covalent (CQT) (24h +13.6%)

Covalent is a blockchain data query and indexing API platform that allows developers to use Covalent to build multi-chain applications such as cryptocurrency wallets, NFT galleries, and investor dashboard tools using data from more than 26 blockchains.

CQT is the native token of the Covalent network, which can be used for governance, staking, and access to the network. CQT token holders can vote on proposals to change system parameters. At the same time, the token can meet the data query needs of API users, and validators will earn rewards by answering queries. The initial issuance of CQT is 1 billion, and staking CQT can obtain a variable APR of 3% - 20% based on the total amount staked in the network.

Streamr Network (DATA) (24h +13.1%)

Streamr is a fully decentralized and scalable protocol for many-to-many data pipelines, network analysis, and instant messaging. The network is supported by community-run nodes that earn DATA Tokens by contributing their bandwidth. Use cases for the protocol include: many-to-many data pipelines, network analysis, instant messaging, gaming, blockchain networks, IoT information interaction, and more.

The current total supply of the protocol token DATA is 100 million, the maximum supply in the future is 200 million, and the current circulation is 767 million. According to its current token economics, DATA use cases include network incentives, node staking, project governance, market payments, etc.

Ocean Protocol (OCEAN) (24h +8.4%)

Ocean is an open source protocol designed to allow businesses and individuals to exchange and profit from data and data-based services. Data owners can sell their data through the Ocean Market application to monetize their data while protecting privacy and control. On the other hand, consumers can purchase private data that they previously could not access. This is particularly useful for AI practitioners and data scientists, who can gain access to more data, cryptographically secured sources, and new revenue opportunities.

Ocean Protocol’s native token OCEAN is the platform’s basic trading unit and is also used for community governance and data staking. The supply cap of OCEAN is 1.41 billion, and the current circulation is approximately 434 million.

Dock (DOCK) (24 h + 11.1%)

Dock is a solution for issuing and building decentralized identities and verifiable credentials. Think of Dock as a decentralized version of Linkedin, where users have full control over their data. Users can submit any data they want to the platform and control who can access it. Unlike other decentralized networks, the Dock platform does not reward users for sharing their data. The Dock team wants individuals to realize that their data is more valuable than they think, and that paying anything for their data is not enough. Instead, they encourage people to view their data as a valuable asset.

DOCK is the native token of the Dock network, designed to create and maintain universal, personally owned, tamper-proof credentials that can be used for governance, staking and verification, as well as to support network operations. The total supply of DOCK is 1 billion, and the current circulation is approximately 870 million.

VIDT DAO (VIDT) (24 h + 12.1%)

VIDT DAO is an open source platform that provides verifiable trust to the entire Web3 ecosystem. The VIDT DAO Web3 platform brings trust to processes by making data and documents verifiable using open source blockchain and timestamping technology. Any Web3 developer and user can use VIDT DAO open source technology to create timestamps, NFTs and register digital assets such as certificates, sensor data and firmware. Over the past few years, VIDT verification technology has been used by several well-known organizations such as Procentec, Nyenrode, AmSpec, DeGO, Amsterdam Vintage Watches and IBM.

VIDT DAO's native token VIDT is used for verification in transactions. The total supply of VIDT is 1 billion, and the current circulation is about 770 million.

DIA (24 h + 6.7%)

The DIA project name is taken from the abbreviation of Decentralised Information Asset. It is a multi-chain, end-to-end, open source Web3 data and oracle platform, which completed a private financing of US$15 million as early as 2020. As an open source ecosystem for financial data, DIA's goal is to improve the accessibility of Web3 data, provide users with accurate and verifiable data, and even build an "open source version of Bloomberg".

The current circulation of DIA is 91,837,743, the current total supply is 168,817,248, and the maximum supply in the future is 200 million. It is mainly used for project and community governance.

Computing concept currency

Phala Network (PHA) (24h +7.4%)

Phala Network is a privacy computing parachain for the Polkadot ecosystem. Based on a POW-like economic incentive model, Phala releases the privacy computing power of countless CPUs and applies it to Polkadot parachains, thereby serving other applications such as DeFi and data services on Polkadot. The core of Phala is a cloud computing network. Compared with existing cloud services, it can provide computing power; at the same time, it can provide privacy protection to regulated programs and maintain the security and trustlessness of the blockchain.

PHA is the native token of Phala Network, used in its cloud-based economic system. The total supply of PHA Token is 1 billion, and the current circulation is about 450 million.

iExec (RLC) (24 h + 7.7%)

iExec provides a wide range of decentralized, blockchain-based cloud computing services, similar to Amazon Web Services and Microsoft Azure. The core product of the iExec project is to obtain computing power, data sets, and applications on demand through a decentralized network of resource providers, and incentivize them in the form of tokenized rewards.

iExec's decentralized resource sharing service uses the project's native token RLC for transactions. Workers need to use RLC tokens as a security deposit to be eligible to perform computing tasks. The total supply of RLC tokens is capped at 87 million, of which 69% of the tokens were sold in a public crowdsale as part of iExec IC0.

SONM (SNM) (24 h + 1.8%)

SONM is a decentralized fog computing platform that provides cloud services based on distributed client-level hardware. Users can rent out their own hardware or use the computing power of others for their own needs.

The total supply of SNM is 44 million, and the current Token issuance contract address holds 79% of the total. The second to fourth coin holding addresses are all Binance hot wallet addresses, accounting for 19% in total. As a small-cap target, SNM had a brilliant performance in November last year and January this year, but the trading volume is still lacking in this round of market activity.

AI Concept Coin

Numeraire (NMR) (24 h + 7.2%)

Numerai is a hedge fund based in San Francisco that is based on artificial intelligence and resource collaboration. It was founded in Los Angeles in October 2015 by South African technology expert Richard Craib. Numerai uses Token NMR to incentivize data scientists and obtain high-fitting market strategies with artificial intelligence. Numerai aims to change the way Wall Street operates by promoting collaborative investment and fund management.

The Numerai team has a strong Wall Street background and raised $7.5 million in two rounds of funding in 2016. Numerai's investment group is led by Howard Morgan of Renaissance Technologies (BlockBeats Note: Renaissance Technologies, the world's largest high-frequency trading fund under management), and its investors include Union Square Ventures, Joey Krug, partner of decentralized market prediction project Augur, Juan Benet, partner of Filecoin and IPFS, and Olaf Carlson-Wee of Polychain.

NMR is an ERC-20 Token issued on Ethereum. Data scientists can sign up for the machine learning competition held by Numerai every week to win its token NMR. The data used in the competition is the historical data of the market, which is divided into training set and test set. The uploader who fits the best strategy under the test set will receive NMR as a reward. NMR also has a pledge mechanism: because overfitting strategies often cannot perform well in the real market, strategy uploaders can pledge NMR to enable funds to use their strategies in the real market and obtain excess returns based on real performance, or bear greater losses.

In addition, in July 2019, Numerai issued an announcement stating that through a contract upgrade, the total supply of NMR has been set to 11 million, and a destruction mechanism will be set up in the Numerai Championship.

Fetch.ai (FET) (24h +24.6%)

Fetch.AI is the second phase of the Binance trading platform Launchpad project. Fetch.AI is a peer-to-peer AI-driven protocol. The data, hardware, services, and infrastructure in the network can all be analyzed and processed by artificial intelligence through Fetch.AI, and users can get value feedback in data interaction.

As the main transaction medium of the Fetch.AI ecosystem, it can be used to pay for protocol service fees. In addition, users can also participate in network operations by staking FET. The total supply of FET is 1,152,997,575 pieces, and the circulating supply is 1,043,462,805 pieces. According to its block browser, the protocol currently has 70 valid verification nodes, with a total of 296 million FETs pledged, accounting for 26.71% of the total.

SingularityNET (AGIX) (24h +26.0%)

SingularityNET is a decentralized AI platform and marketplace that aims to build a "protocol to connect artificial intelligence and machine learning tools to create effective applications" and was launched on the Cardano network in May 2021.

While building the foundation for AGI, SingularityNET is already simultaneously leading the creation of an ecosystem of organizations that will create large-scale use cases for AGIX Token while providing AI services to various platforms. Current vertical market developments for SingularityNET derivatives include DeFi, Robotics, Biotech and Longevity, Gaming and Media, Arts and Entertainment (Music), and Enterprise AI.

SingularityNET Ecosystem Diagram

The current circulation of AGIX is 1,199,121,857, the current total is 1,249,584,776, and the maximum supply in the future is 200 million. AGIX can be used to purchase AI services provided on the market, can vote and participate in the governance of the network, and supports holders to pledge to obtain rewards.

Cortex (CTXC) (24h +16.4%)

The goal of Cortex is to build a truly decentralized AI autonomous system that provides the most advanced machine learning models on the blockchain, which users can infer using smart contracts on the Cortex blockchain. Cortex also aims to implement a machine learning platform that allows users to post tasks and submit AI DApps (artificial intelligence decentralized applications) on the platform.

Currently, Cortex has established its AI on Blockchain ecosystem, where AI researchers can be rewarded for open-sourcing their AI models, dApp developers can integrate AI into smart contracts to greatly speed up dApp development, and competition among AI model providers will lead to better and better AI models.

The current circulation of CTXC is 207,730,074 pieces, and the maximum supply in the future is 299,792,458 pieces. Users can use CTXC to purchase AI-related products such as graphics cards, deep learning machines, and cloud computing services.

Phoenix (PHB) (24 h + 20.9%)

Phoenix is ​​an L1 and L2 blockchain infrastructure that powers smart Web3 applications, focusing on the next generation of AI and privacy-enabled Web3 applications. Phoenix provides blockchain-native solutions for scaling data-intensive applications, and enables advanced analytics, MPC (multi-party computation), and AI capabilities for Web3 applications and dApps. Phoenix's Layer 1 mainnet is an EVM-compatible blockchain, while Layer 2 is a computing layer for scaling data, privacy, and AI applications, and can use mainstream deep learning AI frameworks.

PHB, as the native token of the project, is the universal currency for all mainnet transactions. It can be converted into data points for the second-layer network, data usage points for Phoenix Oracle, and can also be pledged through the Phoenix staking system to obtain rewards.