Believe it or not we had a schedule of articles that we had mapped out before we started this campaign and it has changed every week due to events! In general, the crypto markets move very fast and they never stop. Crypto markets are open 24/7 365 days of the year. With the news of Nvidia this week there could really only be one story to talk about and that is Crypto Artificial Intelligence (“AI”).
HAL?
This is a very new sector in crypto and there are no big market cap players in existence yet. The presale space has been quite active with projects slapping on an “AI” aspect to whatever it is they are doing, think “GPT” a few months ago and “Metaverse” a few decades (well it feels like decades) ago. So safe to say, a lot of projects are trying to ride the “AI” wave and pick up some traction. As most of these tokens are smaller tokens that either have not yet launched or are just out, they will live and die on the narrative (a polite word for HYPE and Fear Of Missing Out (“FOMO”)) that they manage to generate.
Normally, you would go here to see what tokens constitute AI: https://coinmarketcap.com/view/ai-big-data/ You will see that even Coin Marketcap – the Bloomberg of crypto does not give AI it’s own separate category as it is lumped in with “big data”. It really is that new, the bigger projects listed there are generally in the “big data” camp.
The most interesting space for AI projects at the moment is in the presale space. While buying existing small cap tokens is risky (particularly so when there is a high Fully Diluted Valuation – i.e. a lot more tokens to be released to presale buyers and dumped onto the market… on you!) buying presales is quite a fraught space. We may do an article on that later when the education on everything else in the crypto space is complete. It really is the last thing you should be doing in crypto. If you are new to the space do not consider it at all, you will almost certainly lose your money as you will probably not be able to spot red flags on presentations and holes in the narrative laid out before you which will almost inevitably lead to a total loss on your investment / gamble. Presales are for experienced people only who will risk a small amount of their wealth, fully aware that it may be locked up for years while projects “await better market conditions” or have a long tail vesting cycle and consequently may launch in the fag end of a bull market and the majority of their tokens will vest during the next big bad bear cycle.
Get on with it!
So here are some projects in the AI space we think are interesting. Note, a lot of them have gone up in value considerably over the past few weeks. There may be a pull back allowing for a better entry price, or not. We stress again that this is a new space and one with a high risk attached to it, consequently there is a high potential for reward.
1. Akrash Network (AKT): Akash is an open network that lets users buy and sell computing resources securely and efficiently. Purpose-built for public utility. So while this sounds like Amazon Web Services, the core team has been leading efforts in the AI / ML space that leverage all sorts of GPUs. New features are being worked on to make it easy for users to deploy specific kinds of model on the network. Mainnet was launched in 2020 so this is not a project riding the AI wave, rather it is trying to engineer itself into it. https://akash.network/
2. PAAL: PAAL is a robust AI Ecosystem leveraging AI and Machine Learning (“ML”) technologies. It enables users to create personalized chatbots and deploy them across multiple platforms including Telegram and Discord. Now crypto lives in Discord and Telegram so this feature will be crucial not only for existing set ups, but also emerging projects. The narrative is very difficult to control when you have people in your social channels throwing FUD and there is no-one there from the team to counter it. As we mentioned earlier, crypto is a 24/7 phenomenon and attacks can happen at any time. Such attacks can kill off smaller projects where people panic sell. Think of bank runs – they can become self-fulfilling once a certain number of people start market selling their bags for whatever price they can get. Or indeed if there is a hack of the protocol it is absolutely critical that the community is (i) made aware of it and (ii) made aware of what the team are doing to fix the issue. There is significant scope for this kind of application in all businesses. But it will be particularly helpful in the crypto space – where crypto never sleeps. But neither do chatbots or parents of young children! This service is paid for in the PAAL token. https://paalai.io
Rewards for stakers include (but are not limited to):
- 1% of all $PAAL trading volume (they charge a 4% fee on transactions on DEXs);
- AI tools subscription;
- Service revenue sharing;
- 15% referral rewards; and
- Partner projects Airdrops (this could be the most lucrative part).
The most recent drop for stakers was done on the 16th of February 2024 (400k USD) https://twitter.com/paalmind/status/1758442963254775966?s=46&t=Dfl9Xgo8JtRbuKSrFzT3nw. This one ticks another of our favorite boxes – Real Yield – which we will be writing about in the coming weeks. Here’s what we will predominantly be talking about – https://gains.trade/staking.
Crypto also lives on X (the platform formerly known as Twitter) but as we all know, it is full of trolls and scam links. Your safest port of call for crypto information is the project’s Website, Discord and Telegram. X has some interesting Key Opinion Leaders (“KOLs”) but they are an article all by themselves!
3. Ox0.AI: 0x0.ai focuses on privacy, advanced AI-based safety tools, and a unique revenue-sharing model. It offers opportunities for passive income via staking. Powered by advanced zero-knowledge proofs and AI, 0x0 ensures user privacy while offering a trusted and secure platform. Almost uniquely in our experience, 0x0 redistributes 100% of generated revenue to token holders.
They have a number of strings to their bow per their website:
- AI Auditor: An AI smart contract auditor is a tool that uses advanced algorithms to analyze smart contracts and identify potential vulnerabilities or issues that could lead to a scam or other security risk. The auditor uses machine learning techniques to identify patterns and anomalies in the code, flagging potential issues for further review.
- Privacy DEX: The privacy DEX aggregator is a tool that allows users to access multiple DEXs in a single platform, while also providing enhanced privacy and security features.
- Privacy Mixer: A privacy mixer is a tool that can be used to make cryptocurrency transactions more private and anonymous. Also known as a coin mixer or coin tumbler, this tool works by pooling multiple transactions together, mixing them, and then redistributing them to the intended recipients.
- Anti-Rug AI: Per their website this feature is under development with no go live date available. It will work by using advanced algorithms to analyze transactions and detect suspicious behavior, such as setting a tax too high or removing liquidity. If the bot detects any suspicious behavior, it will automatically front run the transaction, preventing users from getting rug pulled. In effect, rub pull the purported rug puller. A brilliant feature if they crack it.
- AI Developer Hub: The AI developer hub is a platform within 0x0 that allows users to deploy their own custom smart contracts written by the in-house AI, without the need for coding knowledge. The platform uses advanced algorithms and machine learning techniques to generate smart contracts that are safe and secure, reducing the risk of scams and fraud.
And they are also over one year old! A veritable dinosaur in crypto AI. https://twitter.com/0x0exchange/status/1750552473885102094
Generative AI NFTs
The first one launched this week: https://twitter.com/odlabs little is known on how this will go but it is the first such NFT to come to market. The mint price was 0.11 ETH for whitelisted (pre-approved) wallets and at time of writing it is 0.1735 ETH and, crucially, only 3% of the entire supply is listed https://opensea.io/collection/odlabslulu this could be a very interesting story. There are 3,333 in existence and 1,610 unique owners. This is a very nice distribution so there are not a few 10s of people holding the majority of the NFTs who can dump on you at any time.