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Despace University

AI Tokens And What They Represent

Published On: March 25, 2023

Research has shown that there has been an upsurge of interest in Artificial Intelligence over the past few years.
This growth in interest springs from the standpoint that AI is capable of disrupting many sectors positively and of course, the Crypto space is also been affected already.

The decentralize finance as a facet in cryptocurrencies is already having a touch of the potentials of Artificial Intelligence via The AI Tokens.

From the foregoing introduction; two key concepts creates a striking line of curiosity which this piece need to tackle.

First, Artificial Intelligence (AI) what is it about?
Also, AI Tokens, what are they and their relevance in relation to cryptocurrencies.

Artificial Intelligence (AI) can simply be explained as simulating or inculcating the intellectual property of humans into machines with the goal to carryout purposeful tasks similar to humans.

AI can also be considered as a programmed machine that has a human disposition to learn, adapt and provide solutions to perceived problems.

In brief, Artificial Intelligence (AI) is the infusion of human intelligence into machines or programs with the aim to bring out the best functionality humanly possible.

Now, What Are AI Tokens?

AI Tokens can simply be described as cryptocurrencies that uses AI to optimize scalability, security and more superlative user experience.

AI Tokens can also be seen as digital collectables that work with AI powered projects or applications, AI based ecosystems, text based apps and decentralized finance space.

Since AI is built with human intelligence in tandem; AI can then be built to create more trust, speed, accuracy emanating from a seamless manner to the crypto space.

Emerging AI In Relation To The Cryptocurrency Space.

As the awareness of AI powered solutions begins to take the center stage in technological advancements, it is pertinent to trace where the groundbreaking resonates from.

ChatGPT can be seen as the magic wand that has come to transform the way businesses, the crypto space, learning and more are to function optimally. With the release of ChatGPT around the second quarter of 2020 and gaining acceptance with popularity in late 2022.

ChatGPT has proven to be a game changer in every facet of human experience. Designed by OpenAI to function with human intelligence capacity; ChatGPT has the ability to take up tasks from learning and providing solutions to problems given to it.

Going forward, the potentials of ChatGPT isn't limited to education but has the capacity to disrupt the crypto world. The founder of Tron blockchain believes that the AI powered chatbot could upscale decentralized finance (DeFi) payment solutions.

With the continuous popularity of ChatGPT and its massive potentials; investors from the crypto space and beyond have picked interest with funds now flowing towards the emerging AI tech. Notable amongst investors is Microsoft which recently announced a $10billion investment into the ChatGPT project.

As interests continues to grow, AI powered tokens have made massive gains climbing above 72%. As at the first quarter of 2023, about $5billion is shown according to CMC to be going the way of AI powered tokens tokens and other big data tokens. This has further led to the attention of more investors and institutions in general looking the way of AI tokens.

Some AI tokens that have benefited alongside the increased popularity of ChatGPT includes:

Artificial Liquid Intelligence (ALI) - This is the native token of Althea's AI innovative hub which can be used by the token holders to partake in the decision making process. Due to Althea's interest in AI, it has been speculated to be a potential rival to OpenAI.

SingularityNET (AGIX) - SingularityNET is acclaimed to be the next phase of Decentralized AI. Built as an open-source, decentralise blockchain marketing tool for users to trade AI powered solutions. In essence this AI technology helps people build, buy and sell solutions on the blockchain.

Numeraire (NMR) - Numeraire is a machine learning technology with algorithms developed to help people gather correct data for investment purposes. It harnesses data collected from data scientists across the globe, based on the Ethereum network. These ecosystem contributors are then rewarded with NMR token, the native token of Numeraire Protocol.

Fetch (FET) - This is a decentralized protocol that seeks to bring Artificial Intelligence to the web3 space. As an autonomous ecosystem, it helps with various solutions ranging from machine learning to economic smart contract settlements and lots more. The Fetch.ai native token saw good run along the popularity of ChatGPT.

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