{"id":4646,"date":"2024-03-19T13:01:10","date_gmt":"2024-03-19T11:01:10","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=4646"},"modified":"2024-03-19T13:01:10","modified_gmt":"2024-03-19T11:01:10","slug":"ai-tokens-outpace-record-breaking-bitcoin","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=4646","title":{"rendered":"AI tokens outpace record-breaking bitcoin"},"content":{"rendered":"<p><strong>The artificial intelligence boom has hit the crypto market with a bang.<\/strong><\/p>\n<p>Coins linked to AI-focused crypto projects have jumped alongside tech stocks like Nvidia (NVDA.O), driven by insatiable investor appetite for applications like machine-learning.The rise of many AI crypto tokens has outpaced even that of bitcoin over the past year as the world\u2019s biggest cryptocurrency has surged to record levels.Their combined market value has ballooned to $26.4 billion, from just $2.7 billion last April, according to CoinGecko data. Tokens linked to these projects are up between 145 per cent and 297 per cent in the past 30 days.If the more optimistic industry predictions come to pass, there could be more room to run, as some market watchers say crypto and blockchain technology could help solve some of the AI industry\u2019s teething problems such as privacy and a need for computing power.\u201cAs both AI systems and blockchain networks continue to grow, we will see more and more use cases fusing together the two industries,\u201d said Markus Levin, co-founder of blockchain data storage firm XYO Network.The CoinDesk Indices Computing Index, which includes AI-linked tokens, has leapt over 165 per cent over the past 12 months, outpacing even bitcoin\u2019s 151 per cent rise to record levels.Trading volumes in AI tokens have also risen sharply this year, Kaiko Research data showed, hitting an all-time high of $3.8 billion in late February.\u201cThere is a significant chance that \u2026 AI applications will be crypto\u2019s raison d\u2019\u00eatre,\u201d fund manager VanEck\u2019s Matthew Sigel and Patrick Bush said in a note.Some of the top blockchain projects at the moment include the Render Network, a blockchain platform for peer-to-peer sharing of AI-generated graphics, Fetch.AI, a platform to build AI apps and SingularityNET, an AI services marketplace.\u201cInvestors are starting to realize that if you want real value, you need products that are uncorrelated to the crypto market,\u201d said Ahmad Shadid, founder of AI-focused blockchain startup io.net.<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-765463 aligncenter lazy\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/03\/ai-tokens-outpace-record-breaking-bitcoin.jpg\" alt=\"chaa\" width=\"1030\" height=\"862\" data-sizes=\"(max-width: 1030px) 100vw, 1030px\"><strong>WINNERS AND LOSERS<\/strong>AI-linked blockchain products include a wide variety of services including payments, trading models, machine-generated non-fungible tokens and blockchain-based marketplaces for AI applications where users pay developers in cryptocurrency.Investment manager VanEck has predicted that revenue from AI crypto projects could reach $10.2 billion by 2030 in their base case, and over $51 billion in their bullish scenario.VanEck pointed to the use of crypto tokens as rewards, developing physical computation infrastructure, data verification, and transparency in proving digital ownership as primary areas where blockchain technology lends real-world value to AI development.Offering crypto tokens as incentives allows quick scalability, said io\u2019s Shadid. His company plans to launch a token later this year.\u201cThe reason we can scale fast is because of the token we have coming out,\u201d he added. \u201cThe token incentivizes owners of physical infrastructure to bring their computers on to our network,\u201d Shadid added.Yet, just as with the AI boom itself, picking winners and losers could be fraught with peril.\u201cWe\u2019re still in the very early stages of AI networks integrating with blockchain-based networks, and the utility of a lot of tokens is still very much uncertain,\u201d cautioned Levin.Follow the<br \/>\nCyprus Mail  on Google News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The artificial intelligence (AI) boom has significantly impacted the cryptocurrency market, with coins related to AI-focused crypto projects experiencing substantial growth alongside tech stocks like Nvidia. The market value of these AI crypto tokens has increased from .7 billion to .4 billion within a year, according to CoinGecko data. Some tokens have seen a 145% to 297% increase in the past 30 days. The CoinDesk Indices Computing Index, which includes AI-linked tokens, has surged over 165% in the past 12 months, surpassing bitcoin&#8217;s 151% rise. Trading volumes in AI tokens reached an all-time high of .8 billion in late February. Top blockchain projects in this space include the Render Network, Fetch.AI, and SingularityNET. Investment manager VanEck predicts that revenue from AI crypto projects could reach .2 billion by 2030 in their base case scenario, and over  billion in their bullish scenario. Blockchain technology is seen as offering real-world value to AI development through crypto tokens as rewards, developing physical computation infrastructure, data verification, and transparency in proving digital ownership.<\/p>\n","protected":false},"author":3,"featured_media":4647,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[842,2479,732,639,77,823,80,2478,1470,3,2369,250,1823,1991,1004,1806,335,812,2202,1682,618,1571,18],"class_list":["post-4646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-ai","tag-ai-focused-crypto-projects","tag-apps","tag-artificial-intelligence","tag-bitcoin","tag-blockchain","tag-crypto","tag-crypto-market","tag-cryptocurrency","tag-cyprus","tag-data","tag-google","tag-increase","tag-industry","tag-power","tag-services","tag-space","tag-storage","tag-tech-stocks","tag-technology","tag-top","tag-transparency","tag-world"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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