It can be clearly seen that the central theme of this year in IT and cryptocurrencies niches is artificial intelligence.
СhatGPT blew up the Internet, which influenced the cryptocurrency market too. Due to the impressive progress in the industry of automatic data processing (text, audio, and video) with the help of neural networks, crypto tokens associated with this area have grown by tens of percent at the beginning of the year.
Investment prospects in this area are enormous.
The two biggest crypto projects that work with AI are FETCh AI and SingularityNET (AGIX).
Fetch.AI is a blockchain-based infrastructure for Web2 and Web3 AI applications. Fetch.AI allows users to access AI in secure datasets through an open-source, decentralized machine learning platform.
Several software agents serve as representatives for their owners in the Fetch.ai network. The agents work across various ecosystems to provide optimized services to suppliers and consumers. The Fetch.Ai framework aims to support billions of IoT devices to facilitate seamless communication in an automated and secure manner. Fetch.AI autonomous agents can conduct searches, negotiate and trade knowledge, and share predictions and value.
The native token of Fetch.AI is FET.
The current prominent use cases for FET include:
Staking: FET is an access deposit token that acts as a form of stake to demonstrate the desire to behave appropriately.
Value exchange between agents: FET is required for two agents to exchange value in the ecosystem.
AI/ML access: FET token enables the development of and access to a broad range of machine learning and artificial intelligence tasks available on the ledger.
Currently, Fetch.Ai’s market cap is about $176m.
Similarly, SingularityNET aims to provide a decentralized AI platform and a marketplace, aiming to build a “protocol for connecting AI and machine learning tools, as well as forming effective applications”. Using SingularityNET, global participants can create, share, and monetize AI services at scale. Additionally, Singularity Studio is building scalable and affordable cloud computing infrastructure-as-a-service.
Its native token, AGIX, has the following use cases:
- Market-provided AI services can be purchased using AGIX.
- Voting rights and participation in governance are provided to AGIX token holders.
- During a staking period of 30 days, holders can stake AGIX to earn rewards for participating in network consensus
At the time of publication, the market cap of SingularityNET is over $273M.
Trade AGIX and FET in the Sema app.