Artificial intelligence (AI) is one of our most incredible technological breakthroughs. We benefit from this technology daily, from advanced search engines (like Google) to devices with speech recognition (like Alexa). Most recently, the crypto world has focused on AI because of its potential to enhance various characteristics of blockchain networks.
Artificial intelligence can significantly enhance user experience in the crypto space. Scalability and security could also be improved with the use of AI technology. Several AI crypto projects have been launched, including decentralized marketplaces, portfolio management tools, market predictors, and more. AI-based tokens usually back these projects. Below, we outline the five most promising AI tokens to invest in.
1. Fetch.ai (FET)
Fetch.ai is a decentralized, open-source blockchain platform that serves as an AI lab for building an open, permissionless machine learning (ML) network with a crypto economy. The main goal of this project is to create the digital infrastructure for autonomous economic agents to operate on. These agents can securely and efficiently transact with each other thanks to AI and ML technologies.
The native token of Fetch.ai is the FET token, considered one of the most promising cryptocurrencies of 2023. The Fetch.ai project was founded in 2017, and the FET token was launched via IEO on Binance in March 2019 at an initial price of $0.41. This token had an impressive performance in 2021, reaching its all-time high on September 8 at $1.19.
But the crypto winter of 2022 sent the FET price below $0.1. However, this token has shown signs of recovery during the first months of 2023. As of March 14, 2023, FET traded at around $0.39. According to CoinMarketCap, it was the 116th most valuable cryptocurrency by market capitalization.
2. Numeraire (NMR)
Numerai is a hedge fund that allows data scientists and developers to create and experiment with ML models to predict the stock market. Numarai claims to be the first hedge fund to launch a cryptocurrency, the Numeraire (NMR) token. It also claims to run “the hardest data science tournament on the planet.” In this weekly tournament, NMR holders make predictions about the stock market.
To participate in the Numerai tournament, users must stake NMR on their predictions. Participants making correct predictions earn newly minted NMR tokens. Otherwise, the staked NMR tokens are burnt. Numerai was founded in late 2015. Initially, this hedge fund used PayPal to pay rewards to winners in its tournament. Later, it used Bitcoin (BTC). In 2017, Numerai launched NMR on the Ethereum blockchain as an ERC-20 token.
As of March 14, 2023, the NMR token traded at around $17.8 and was the 256th most valuable cryptocurrency by market capitalization, according to CoinMarketCap. The NMR token reached its all-time high price on June 25, 2017, at $168.5. It had a good performance in 2021 too. During the first months of 2023, this token has shown a bullish trend, making it one of the most promising AI tokens this year.
3. VeChain (VET)
VeChain is a blockchain platform that leverages AI to provide supply chain management solutions. This platform will be able to track and verify different products from various industries. VeChain supports smart contracts and offers enterprise-level solutions like data storage, asset tracking, and more.
The native token of VeChain is the VET token. This cryptocurrency powers the VeChain network by enabling transactions. It also provides access to other services and rewards to users who contribute to the development of the network.
As of March 14, 2023, the VET token traded at approximately $0.025. Although this price is far from the all-time high of $0.2782 on April 17, 2021, it indicates an upward trend from the values seen during the crypto winter of 2022. CoinMarketCap ranks VET as the 36th most valuable cryptocurrency by market capitalization.
4. SingularityNET (AGIX)
SingularityNET is an open-source blockchain-powered platform for AI services. Developers can easily create, share, and monetize AI services on SingularityNET's global marketplace. These services include ML algorithms, data sets, and AI models.
To take advantage of the SingularityNET marketplace, users must stake AGIX tokens, the platform’s native cryptocurrency. Receiving poor reviews from other users can lead to the loss of the staked tokens. AGIX is also used to pay for network transactions and as a governance token.
According to CoinMarketCap, AGIX was the 83rd most valuable cryptocurrency per market capitalization as of March 14, 2023. This digital asset is considered one of the most promising AI tokens in 2023. It went on an impressive run in the first two months this year, rising 1,300% in a month. It currently trades at around $0.44.
5. Ocean Protocol (OCEAN)
Ocean Protocol is a decentralized platform that allows sharing and exchanging big data sets. Ocean Protocol aims to create a more open data ecosystem where developers can easily access high-quality datasets for ML and other AI applications. The data sets on this platform are tokenized to facilitate trading. In all cases, users can control who accesses their data while getting compensated for sharing them.
OCEAN is the native token of the Ocean Protocol. It is primarily used for buying and selling tokenized AI datasets. Holders can also stake OCEAN tokens to create liquidity for specific datasets and earn rewards in exchange. According to CoinMarketCap, OCEAN was the 143rd most valuable cryptocurrency by market capitalization as of March 14, 2023. OCEAN reached its all-time high price on April 10, 2021, at $1.94 and currently trades at approximately $0.43.
Final Thoughts
Artificial intelligence and cryptocurrencies are two complex technologies that can be combined to create benefits for both fields. Several entrepreneurs have spotted the enormous potential of this synergy and have launched various AI crypto projects. Some of these projects are highly promising and could be excellent investment opportunities. However, since AI is a relatively new technology, investing in AI tokens carries some risk.
If you plan on investing in AI crypto tokens, consider some of the tokens listed in this article. They have shown exemplary performance in the first months of 2023 and could continue to grow in the year’s remainder. You can purchase the top AI tokens on LetsExchange.io at competitive rates and without hassle.
Disclaimer
Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.