Top 6 AI & Web3 Crypto Projects to Watch Out for 2023

Introduction

Artificial intelligence (AI) is a rapidly growing field with applications in a wide range of industries, from healthcare to finance to manufacturing. In recent months, we have seen skyrocketing growth in the development and adoption of AI technologies. This is due in part to the increasing availability of data and computing power, as well as the development of new AI algorithms that are more powerful and efficient.

One of the most exciting areas of AI development is the intersection of AI and blockchain technology. This convergence of two cutting-edge technologies is giving rise to a new generation of crypto projects that are using AI to solve some of the most pressing challenges facing the world today.

In this article, we will explore some of the top AI and Web3 crypto projects to watch out for in 2023. We will first briefly cover what AI and Web3 are, and then discuss how these two technologies can play together in the future.

Additional Read: Top Use Cases of Blockchain & AI in Crypto

What is AI?

AI is a section of computer science that deals with the creation of intelligent and self-learning agents, which can reason, learn, and act autonomously. AI research has been highly successful in developing effective techniques for solving a wide range of problems, from game playing to medical diagnosis.

There are many different approaches to AI, but one of the most common is machine learning. Machine learning algorithms can be trained on data sets to learn how to perform a specific task. For example, a machine learning (ML) algorithm could be trained to recognize objects in images or to classify text.

What is Web3?

Web3 is essentially a vision for the next generation of the internet, one that is decentralized and built on blockchain technology. Web3 is seen as a way to decentralize power away from large tech companies and give users more control over their data and privacy.

There are many different projects that are working on building the Web3 ecosystem. Some of the most notable projects include Ethereum, EOS, and Polkadot. These projects are developing blockchain platforms that can be used to build decentralized applications (dapps).

Read On: Top Web3 Tokens

How can AI and Web3 Play Together?

AI and Web3 are two of the most exciting technologies of our time. They have the potential to transform many different industries, and they could also work together to create even more powerful and innovative solutions.

One way that AI and Web3 can play together is in the development of dapps. Dapps are decentralized applications that run on blockchain platforms. They can be used for a variety of purposes, such as financial transactions, social networking, and gaming.

AI can also be used to improve the functionality of dapps. For example, AI algorithms can be used to provide personalized recommendations, to identify fraud, or to generate content.

Another way that AI and Web3 can play together is in the development of new blockchain-based protocols. These protocols could be used to create new types of decentralized applications, or they could be used to improve the security and efficiency of existing blockchain platforms. The intersection of AI and Web3 is still in its early stages, but it is clear that this is a promising area of development. We can expect to see many new and innovative projects emerge in the years to come. Let us now take a deeper look at some of the most popular ones.

1. The Graph Token (GRT)

The Graph Token (GRT) is an integral part of a decentralized protocol that facilitates the indexing and querying of data from various blockchains. It serves as a global data layer in the crypto industry and operates on top of blockchains and storage networks. The project aims to organize and index blockchain data in a way that enables easy retrieval and querying, similar to how Google indexes the internet.

Tokenomics: The Graph Token (GRT) operates as an Ethereum-based (ERC-20) utility token. It plays a vital role within The Graph ecosystem by incentivizing participants to perform tasks such as indexing and querying data. Furthermore, participants can use GRT to curate and signal the importance of specific data sources, contributing to the overall efficiency and reliability of the protocol.

Key Features of The Graph Token

• Decentralized Data Indexing: The Graph serves as a decentralized data aggregator, organizing data from various blockchains into APIs called subgraphs.
• Querying Efficiency: By employing artificial intelligence (AI) techniques, The Graph learns how to index data effectively, enabling faster and more efficient queries on the platform.
• Web3 Integration: The project plays a significant role in the development of Web3, a new paradigm that combines blockchain technology, decentralized applications, and AI. The Graph’s global data layer is a key component in unifying and organizing the decentralized movement happening within Web3.
• Developer-Friendly: The Graph provides a user-friendly interface and tools for developers to build and publish their own subgraphs, allowing them to contribute to the growth and accessibility of decentralized applications.

With its innovative approach to data indexing and its pivotal role in the convergence of AI and Web3, The Graph Token positions itself as a significant player in the crypto sector. Its ability to efficiently organize and retrieve blockchain data enhances the overall functionality and usability of decentralized applications, making it an essential project to watch in the evolving landscape of AI and Web3 integration.

2. Render Token (RNDR)

Render Token (RNDR) is an AI crypto project that has created a network to provide decentralized GPU-based rendering solutions, revolutionizing the digital creation process. By leveraging the power of blockchain technology, Render Token aims to offer an efficient and secure way for digital creators to access powerful computing resources and undertake complex rendering tasks.

Tokenomics: Render Token (RNDR) operates as the native utility token of the Render Network. It serves as a means of exchange within the network, enabling participants to access rendering services and facilitating value transfer between creators, consumers, and hardware providers. By utilizing RNDR, users can pay for rendering services, incentivize hardware providers to contribute their computing power and participate in the ecosystem’s governance.

Key Features Render Token:

• Decentralized Rendering Network: Render Token offers a decentralized network that connects users in need of rendering services with individuals or businesses that possess idle GPUs. This approach ensures that rendering resources are accessible to users globally in a decentralized and cost-effective manner.
• Cloud Rendering Network: Render Token functions as a cloud rendering network, allowing users to offload computationally intensive rendering tasks to a distributed network of GPUs, reducing the need for expensive local hardware.
• AI and Web3 Integration: Render Token embraces the convergence of AI and Web3, facilitating the creation of AI-driven rendering solutions. With the ability to harness the power of AI technologies, Render Token aims to enhance the efficiency and quality of rendered content.
• Collaboration and Marketplace: Render Token provides a marketplace where digital creators can collaborate, trade rendering services, and share expertise. This fosters a vibrant ecosystem for creators to connect, collaborate, and monetize their work.

Render Token’s innovative approach to rendering and its integration of AI and Web3 positions it at the forefront of the evolving crypto sector. By leveraging the power of blockchain and tapping into the potential of AI technologies, Render Token is paving the way for a more accessible, efficient, and collaborative digital creation process. As the crypto sector embraces the combination of AI and Web3, Render Token’s role in facilitating decentralized rendering and empowering creators becomes increasingly crucial.

3. Injective (INJ)

Injective (INJ) is a prominent AI-based crypto project designed specifically for the finance industry. It operates as an open-source layer-1 blockchain network with high interoperability, serving as the backbone for the next generation of decentralized finance applications (dApps). With its seamless “plug-and-play” financial infrastructure, Injective enables the integration of AI technologies into its systems, allowing for AI-powered trading in various markets.

Tokenomics: Injective Token (INJ) is the native utility token of the Injective Protocol. It plays a vital role in the network by serving as a medium of exchange, facilitating governance decisions, and incentivizing users to participate actively in the ecosystem. Token holders can use INJ to access various features and services within the platform, including staking, voting, and trading fee discounts.

Key Features of Injective

• Decentralized On-Chain Orderbook: Injective aims to provide a fully decentralized on-chain orderbook mechanism for trading activities, enabling users to trade a wide range of financial instruments in a trustless manner.
• AI Integration: Injective’s infrastructure is designed to support the integration of AI technologies into its ecosystem. This integration enables the application of AI algorithms and strategies to optimize trading decisions and enhance market efficiency.
• Interoperability: Injective’s decentralized cross-chain bridging infrastructure is compatible with Ethereum and non-EVM chains such as Solana. This interoperability facilitates seamless asset transfers and enhances liquidity across different networks.
• Diverse Financial Applications: Injective supports a range of decentralized finance applications, including decentralized sports and derivatives exchanges, prediction markets, and lending protocols. These applications leverage the benefits of AI and Web3 to enhance financial accessibility and innovation.

Injective Token’s role in the evolving crypto sector lies in its ability to combine AI and Web3 technologies to drive innovation and decentralization within the finance industry. By integrating AI capabilities, Injective empowers users to leverage intelligent algorithms and automation in their trading strategies, fostering greater efficiency and transparency. As the crypto sector continues to embrace the convergence of AI and Web3, Injective Token’s role as a catalyst for AI-driven financial solutions becomes increasingly significant.

4. SingularityNET (AGIX)

SingularityNET (AGIX) is an AI-based crypto project that operates as a decentralized marketplace for artificial intelligence services. With its innovative use of blockchain technology, SingularityNET empowers developers to build, share, and monetize AI tools and services. It plays a significant role in the upcoming space that combines the use of AI and Web3 in the crypto sector, enabling the creation and exchange of AI technologies in a decentralized manner.

Tokenomics: SingularityNET Token (AGIX) serves as the native utility token of the SingularityNET platform. It has multiple use cases within the ecosystem, including accessing AI services, participating in governance decisions, and incentivizing collaboration among developers. AGIX holders can utilize the token to avail of services from the marketplace, contribute to the platform’s development, and earn rewards for their contributions.

Key Features of SingularityNET:

• Decentralized AI Marketplace: SingularityNET provides a decentralized marketplace where developers can offer their AI services and solutions, while users can browse, assess, and purchase these services, fostering innovation and collaboration within the AI community.
• Integration with Sophia: SingularityNET has gained recognition for its partnership with Sophia, one of the most advanced humanoid robots. The project aims to enhance Sophia’s abilities to comprehend human language and interact with users effectively, showcasing the potential of AI in real-world applications.
• Democratizing AI: SingularityNET aims to democratize access to AI technologies by removing centralized intermediaries. It allows developers from around the world to contribute their AI tools and models, making them accessible to a global user base.
• AI Collaboration: SingularityNET facilitates collaboration among developers by providing a platform where they can share knowledge, collaborate on projects, and jointly develop advanced AI solutions, promoting collective growth and innovation in the field.

In the evolving crypto landscape, SingularityNET Token plays a crucial role in bridging the gap between AI and Web3 technologies. By combining the power of decentralized networks with AI capabilities, SingularityNET enables the development and deployment of AI solutions that are transparent, accessible, and efficient. The project’s focus on decentralization, collaboration, and democratization of AI aligns with the growing demand for AI-driven innovations in various sectors, positioning SingularityNET as a significant player in the emerging AI and Web3 space.

Read On: Top AI Crypto Tokens

5. Oasis Network (ROSE)

Oasis Network is a promising crypto project that aims to redefine privacy and data ownership in the digital world. It operates as a privacy-focused blockchain platform that empowers users to retain control over their data while enabling secure and private interactions. With its emphasis on privacy and data protection, Oasis Network plays a vital role in the upcoming space that combines the use of AI and Web3 technologies in the crypto sector.

Tokenomics: The native token of the Oasis Network is called ROSE. It serves multiple functions within the network, including governance, staking, and incentivizing participation. ROSE holders can participate in consensus mechanisms, vote on network proposals, and stake their tokens to secure the network and earn rewards.

Key Features of Oasis Network:

• Privacy-Focused Architecture: Oasis Network prioritizes privacy and data protection, allowing users to have full control over their personal data. It employs advanced techniques such as differential privacy and secure enclaves to ensure confidential and secure transactions.
• Data Tokenization: The platform enables the tokenization of data, allowing individuals and organizations to control and monetize their data assets securely. This opens up new possibilities for data sharing and collaboration while preserving privacy.
• Secure Computation: Oasis Network utilizes secure enclaves and confidential computing to enable secure and private computation of sensitive data. This ensures that data remains encrypted and confidential even during processing.
• Smart Contracts: The network supports the execution of smart contracts, enabling developers to build decentralized applications (dApps) with privacy-enhancing features. This expands the possibilities for building innovative applications that prioritize data privacy and security.

As the crypto sector continues to explore the convergence of AI and Web3 technologies, Oasis Network stands at the forefront of promoting privacy and data ownership. By providing a secure and privacy-focused platform, Oasis Network enables users to leverage AI capabilities while retaining control over their data. The project’s commitment to privacy, secure computation, and data tokenization positions it as a key player in the evolving landscape of AI and Web3 integration, offering individuals and organizations the ability to protect and utilize their data in a secure and privacy-preserving manner.

6. Ocean Protocol (OCEAN)

Ocean Protocol is a prominent project in the crypto space that aims to revolutionize data sharing and monetization. It operates as a decentralized data exchange protocol that enables individuals and organizations to securely share, sell, and consume data. With its focus on data sovereignty and privacy, Ocean Protocol plays a significant role in the upcoming space that combines the use of AI and Web3 technologies in the crypto sector.

Tokenomics: The native token of Ocean Protocol is called OCEAN. It serves as the utility token within the network, facilitating transactions, incentivizing data providers, and enabling governance. OCEAN holders can stake their tokens, participate in network governance, and access premium data services.

Key Features of Ocean Protocol:

• Decentralized Data Marketplace: Ocean Protocol provides a decentralized marketplace where data providers can publish their datasets, and data consumers can discover and access relevant data. This facilitates the seamless exchange of data assets in a secure and transparent manner.
• Data Privacy and Security: The protocol incorporates privacy-preserving technologies such as federated learning and secure multi-party computation to ensure data privacy and protection. This allows data owners to maintain control over their data while enabling secure data collaborations.
• Data Monetization: Ocean Protocol enables data providers to monetize their datasets by setting pricing and licensing terms. This creates new opportunities for individuals and organizations to generate value from their data assets.
• Interoperability: The protocol supports interoperability, allowing users to combine and analyze data from multiple sources. This promotes cross-domain collaborations and enhances the potential for deriving valuable insights from diverse datasets.

In the emerging landscape of AI and Web3 integration, Ocean Protocol serves as a catalyst for data-driven innovation. By providing a decentralized infrastructure for data sharing and monetization, the project empowers individuals and organizations to leverage AI technologies while maintaining control over their data.

The combination of AI and Web3 technologies with Ocean Protocol’s data marketplace and privacy-enhancing features opens up new avenues for collaborative research, AI model training, and insights generation. As the demand for data-driven solutions grows, Ocean Protocol’s role as a trusted and decentralized data exchange protocol positions it at the forefront of the AI and Web3 convergence, enabling the creation of a more transparent and equitable data economy.

Conclusion

In conclusion, the world of AI and Web3 in the crypto sector is evolving rapidly, offering exciting opportunities for innovation and growth. The discussed projects, including The Graph, Render Token, Injective, SingularityNET, Oasis Network, and Ocean Protocol, showcase the intersection of AI and blockchain technology. These projects are driving advancements in data indexing, rendering solutions, decentralized finance, AI services, privacy-focused platforms, and data-sharing protocols.

As evidenced by their market capitalizations and YTD changes, these projects have gained significant attention and support within the crypto community. With their unique features and contributions, they are shaping the future of AI and Web3 applications. By combining artificial intelligence with the decentralized and transparent nature of blockchain technology, these projects are unlocking new possibilities for data management, financial services, autonomous decision-making, and more!