- Published on
4 Blockchain Projects that are Massively Harnessing AI Potential
- Authors
- Name
- Kanchan Sharma
- @SharmaKanchaan
Table of Contents
Introduction
This article presents a detailed analysis of four innovative blockchain projects: SingularityNET, NumerAI, Ocean Protocol, and WorldCoin. These initiatives are at the forefront of integrating blockchain technology into various sectors, demonstrating the extensive potential of digital assets and decentralized applications. The discussion includes SingularityNET's amalgamation of artificial intelligence with blockchain technology, NumerAI's novel approach to financial market predictions, Ocean Protocol's transformative data trading marketplace, and WorldCoin's ambitious vision for an AI-driven global economy and experiment with Universal Basic Income. The aim is to provide a thorough insight into how these projects are not only advancing their respective fields but also charting new territories in the application of blockchain technology.
SingularityNET
SingularityNET's AGIX token has a max supply of 2 billion AGIX and has a market cap of $663 million.
SingularityNET's AGIX token is tradable on major centralized and decentralized exchanges. An application layer project in the Ethereum blockchian, Singularity NET is building AGI foundational models while at the same time bootsrapping projects that aim to provide AI services in the fields including but not limited to DeFI, Robotics, Biotech, Longevity, Gaming and Media, Arts and Entertainment, and Enterprise-level AI.
SingularityNET Marketplace and the AGIX Token
The SingularityNET AI beta marketplace so far has 84 AI projects listed as available services and is garnering more than 10 thousand daily visits, likely indicating the marketplace is gaining traction. Users of the apps transact with AGIX tokens, providing a massive potential value to AGIX holders when the platforms reach critical mass.
NumerAI
NumerAI's $NMR token has a total supply of 11 million NMR tokens with a current market cap of $189 million.
Dubbing themselves as the "last hedge fund", the NumerAI model is a "data science competition where you build machine learning models to predict the stock market." NumerAI provides a free database of the financial market that people can use to make predictions and generate signals. The users can then license their signals to NumerAI by making predictions where they stake their NMR tokens. Should the signals make accurate predictions, the users get rewarded with NMR tokens. If the signals are inaccurate, some of user's staked tokens are burnt. Currently, there's more than $1.8 million at stake with the NumerAI model.
NumerAI is like a crowd-sourced hedge fund where you place your bets my making predictions. To let their users focus on the prediction, NumberAI provides essential datasets on the financial markets, simplifying the process.
Interested in exploring the financial dataset NumerAI provides? Click here to learn about the data and the model itself.
How to profit from NumerAI and NMR Tokens?
NMR has a working product that already has provided more than $30 million in NMR tokens to the data scientists. You can purchase the NMR tokens in major exchanges and hold them as investments that will generate returns. Or you can learn how to build models and make bold predictions by staking your NMR tokens.
Ocean Protocol
The Ocean Protocol went public thrugh an IEO in 2019 at the price of $0.12 per Ocean token. Today, $OCEAN is trading for $0.51. The Ocean Protocol is one of the well-capitalized projects with a market-cap exceeding $700mn.
Where does the value lie in the Ocean Protocol?
The Ocean Protocol's value lies in the Ocean Marketplace which is a decentralized marketplace to securely trade data.
The Ocean Marketplace is a functioning marketplace to find, publish, and trade datasets on the Ocean Network. With more than 850 datasets currently available, the Ocean Marketplace has a wide array of data: live orderbook prices, dataset on energy marekts, Netflix viewing history and much more.
Data is crucial for AI as data leads to better AI. The Ocean Marketplace is a unique solution in the big data marketplace where sales topped $274 billion in 2022. Unlike giant corporations, data on the Ocean marketplace is available for everyone to use for a price. The Ocean Protocol stands to immensely benefit with provision of more and better data for trade in their marketplace.
With a marketplace to safely share data and protocol to ensure payments, Ocean Protocol stands to benefit massively with the current AI trend.
WorldCoin
WorldCoin's native token is the WLD Token and has total supply of 10 billion units. The total market cap as of this writing is more than $35 billion. WLD tokens are available to trade at major centralized and decentralized exchanges.
WorldCoin's mission is to provide the benefit of AI and global economy to every human, regardless of where they're from. With a potential path towards AI-funded Universal Basic Income, WorldCoin is currently in experimental phase where you can get some WLD tokens for simply signing up and verifying your identity.
WorldCoin is a brainchild of a team of seasoned entrepreneurs and technologists, including Sam Altman, a prominent figure in the tech industry known for his former role as the president of Y Combinator and CEO of OpenAI, and Alex Blania, a physicist turned entrepreneur. Together, they are steering WorldCoin towards realizing its goal of leveraging AI and blockchain technology to lay the groundwork for a universally accessible, AI-funded economic system.
How to Get Started with WorldCoin
To get started with WorldCoin, go to the WorldCoin App's website.
Conclusion
In conclusion, the innovative endeavors of SingularityNET, NumerAI, Ocean Protocol, and WorldCoin represent a significant leap in the finance sector's ongoing evolution, driven by blockchain and AI technologies. These projects exemplify the powerful synergy between AI and cryptocurrencies, paving the way for more efficient, transparent, and secure financial systems. As the industry continues to embrace these technologies, we can expect to see a profound transformation in how financial services operate, with enhanced capabilities for data analysis, decision-making, and market predictions. The progress of these projects offers a glimpse into a future where finance is not only more accessible but also more aligned with the technological advancements of our time. For investors, entrepreneurs, and finance professionals, staying abreast of these developments is not just beneficial, but essential for navigating the rapidly changing landscape of the financial world.
Disclosure: We hold some minor positions in some of the cryptocurrencies mentioned in the article