Exploring the Rise of AI Crypto Coins: Insights into Transactions, Governance, and Unique Applications

NVIDIA’s remarkable Q4 earnings sparked a surge in the values of AI-related cryptocurrencies. But what exactly are AI crypto coins? Here’s a brief introduction:

Rise of AI Crypto Coins

AI-related cryptocurrency tokens or coins have gained significant momentum following Nvidia’s impressive Q4 earnings report. Unlike traditional crypto investments like Bitcoin, these tokens are often utilized to facilitate transactions and establish governance rights on AI-powered platforms, adding more utility to their functionality. Prominent figures in the AI field, including OpenAI founder Sam Altman, have embraced these cryptocurrencies.

These AI tokens primarily serve to streamline transactions within the AI market, enabling smooth interactions between individuals and organizations. Their values can be tracked wherever cryptocurrency prices are reported. SingularityNET (AGIX), with a market cap of just over $1 billion, offers AI tokens that can be traded on its marketplace for various AI-related services such as speech recognition, automatic code generation, image resolution improvement, and more. For instance, using SingularityNET, one could pay 0.00000100 AGIX tokens for a service like separating vocals from music in an audio file.

Additionally, many AI tokens confer governance and voting rights to their holders for shaping the future development of the supported project. Fetch.AI (FET), functioning both as a transactional cryptocurrency and in a digital marketplace, allows token holders to propose changes to the network or software, with voting power increasing based on the number of tokens owned.

Some individuals are leveraging AI tokens to fund the training of AI models. Render (RNDR), a decentralized network, enables users to request rendering jobs, like creating a 3D asset or training an AI model. Users with spare GPU power complete these tasks and are rewarded with RNDR tokens. With the growing demand for GPU power, services like Render may experience increased popularity.

Even ChatGPT founder Sam Altman has introduced his own AI-related token, Worldcoin (WLD). Unlike others, Worldcoin serves as a form of universal basic income (UBI) in anticipation of a future where automation replaces many human jobs. Users are required to scan their irises using a tech-enabled silver orb and receive cryptocurrency in return. This unique approach aims to turn users’ eyes into a form of ID or “address” on the blockchain, potentially simplifying and expanding crypto transactions. In the past week alone, Worldcoin’s value has nearly doubled from $4.4 per token to $8.3 per token.

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