In 2024, Top performing AI Tokens powering 2024 Crypto Market, the story of artificial intelligence will rule the web3 and mainstream technology domains. AI-focused cryptocurrency projects have shown incredible development over the last two quarters of 2023, maintaining significant increases that continued into 2024. The release of OpenAI’s AI-powered text-to-video solution, SORA and Nvidia’s outstanding quarterly earnings have, in particular ignited a bright season for AI initiatives.
We expect this trend to continue as more and more investors show interest in decentralized artificial intelligence solutions. Let’s explore more deeply!
Table of Contents
Read More: A Beginner Guide to Understanding Modular Blockchains
Top Performers and AI Tokens Market Dynamics
In 2024, Nosana outperformed all other crypto AI currencies with a price increase of 987.9%, according to data from CoinGecko.
In just two months, its $0.56 initial value shot up to $6.01. DeepFakeAI increased significantly as well, going from $0.0008 to $0.0069, a 628.6% rise. In third place, Synesis One saw a 595.4% increase from $0.016 to $0.108 at the end of February. The value of AI cryptocurrency increased by 257.2% on average from January 1, 2024 till February 29, 2024.
In terms of growth in market capitalization, Render came in second with a rise of $1.20 billion and Bittensor topped with a huge addition of $2.22 billion. After rising by $0.51 billion since 2024 began to reach $0.93 billion, SingularityNET came in third place. In spite of the significant price increase, Nosana’s market capitalization increased by a mere $0.45 billion, placing it in fifth position, trailing only Akash Network’s $0.51 billion gain. Now, let’s examine these projects.
1. DeepFakeAI AI Tokens
By enabling anyone to create lifelike deepfake identities without the need for complex technical knowledge, the DeepFakeAI platform aims to give everyone access to deepfake services. It provides synchronized lip motions, already established characters with realistic voice modulation and videos created by AI. By removing noise from source footage, collecting essential photos and refining the video creation algorithm, users can also generate new characters.
The web platform itself, Telegram bot integration for community use and the FakeAI deflationary token are all part of DeepFakeAI’s ecosystem, which can be accessed by the online site or Telegram.
Tokenomics
Ticker Symbol: $FAKEAI
Market Cap: $16.5M (At the moment of publishing this article)
Circulating Supply: 958.8M
Max Supply: 1B
Chain: Ethereum
While deepfakes are concerning, they are but a small part of the larger problem. Confusion and a warped perception of reality can result from oversimplifying their importance. For a deeper understanding, it is more beneficial to look at how they are now being used rather than highlighting their potential influence.
Regardless, DeepFakeAI shows the advantageous potential of this technology when used correctly and responsibly, despite the ongoing ethical questions and issues surrounding deepfake technology.
2. Synesis One AI Tokens
The market for AI training data will grow significantly in a number of industries. However, privacy and personal freedom are questioned due to the power of large tech companies that take advantage of huge amounts of consumer data. Synesis One wants to change this environment.
With data providers, traders and consumers, Synesis One functions as a decentralized ecosystem on Solana. It basically serves as a data crowdsourcing platform where users can earn $SNS for completing little activities that support AI training.
The platform uses two tokens, an NFT data token called Kanon and a governance token called Synesis ($SNS). Its aim is to create the world’s biggest Web3 data service that AI and people can use.
In short, Synesis One seeks to challenge Big Tech’s data monopolies through using the collective wisdom and strength of the community, hence building a strong platform for wealth creation for Synesis and Kanon holders.
Additionally, Synesis One’s operations are guaranteed by legality and responsibility as it is overseen by the Swiss Financial Market Supervisory Authority (FINMA).
Tokenomics
Ticker Symbol: $SNS
Market Cap: $62.8M (At the moment of publishing this article)
Circulating Supply: 526.2M
Max Supply: 1B
Chain: Solana
Decentralized platforms for crowdsourcing, like Synesis One will democratize AI by giving those who work on its creation more power, returning ownership and control to the public.
3. Nosana AI Tokens
The need for AI inference is growing as the AI revolution spreads over the world and more projects need to train and assess their AI models. As a result, there is now an alarming shortage of GPUs, which is necessary to carry out this essential part of any AI project and could result in increased expenses. In addition, a lot of people expect that these expenses will rise significantly as AI models get more complex.
To solve this problem, the Web3 project, Nosana has created a system that combines blockchain technology with artificial intelligence inference through the Solana network. This unique approach allows users to create a decentralized GPU grid and rent processing capacity for AI inferencing at a reasonable and practical cost.
A gap in the availability of scalable computational power, specifically GPUs needed for AI projects, led the Nosana platform to change its focus in 2023 from delivering decentralized CI/CD services to AI inference.
Meanwhile, in December 2023, Nosana announced an incentive-based test grid with support from the Solana Foundation, enabling customers to set up and run workloads related to AI inference.
Nosana plans to release its main grid in the first or second half of 2024, according to its roadmap.
The native utility token of the Nosana ecosystem is $NOS which powers the Solana GPU grid and follows SPL regulations. NOS tokens can be used for a variety of things, such as deploying AI inference workloads, buying computing resources and paying for services on the Nosana marketplace. To reward platform node operators and encourage participation in the Nosana GPU Test Grid, NOS tokens are also important.
Tokenomics
Ticker Symbol: $NOS
Market Cap: $418.26M (At the moment of publishing this article)
Circulating Supply: 83.4M
Total Supply: 100M
Chain: Solana
The methodology used by Nosana, which enables GPU owners to rent out unused computing equipment in exchange for benefits and provides AI users with reasonably priced computing power at a small fraction of market price, perfectly describes the framework required for achieving the AI vision in the tech industry.
4. Render AI Tokens
Real-time processing of high-resolution motion graphics is expensive and frequently comes at an enormous price. This problem is solved by the Render Network, which utilizes unused GPU power and safely distributes it to end users.
The Render project’s main goal is to provide real-time 3D rendering services using a decentralized cloud network that lets users exchange their processing power from GPUs. Utilizing a reverse auction methodology, Render operates on Knative, a container orchestration system offering a range of cloud services. Customers select a price budget and providers compete for slots to satisfy their demands.
The P2P structure of Render guarantees excellent efficiency, scalability and performance. The next-generation digital rights management (DRM) on the platform allows artists and developers to create complex 3D renders more easily with this model.
Network payments depend on $RNDR, the native utility token of the Render Network. Render successfully moved to Solana in November 2023 after launching its mainnet on Ethereum in April 2020.
Tokenomics
Ticker Symbol: $RNDR
Market Cap: $4.2B (At the time of publishing this article)
Circulating Supply: 381.8M
Max Supply: 531M
Chain: Ethereum, Polygon, Solana
Render’s solution makes use of GPUs specifically for rendering while utilizing blockchain characteristics including network capabilities, rewards and trust mechanisms compared to traditional web3 GPU usage, which is usually limited to mining activities.
5. SingularityNET AI Tokens
The website, A decentralized marketplace called SingularityNET allows people to list, investigate, assess and purchase different AI projects and algorithms. Its main goal is to support the advancement of broadly capable artificial general intelligence (AGI).
Dr. Ben Goertzel and Dr. David Hanson co-founded SingularityNET in 2017, the platform works with Hanson Robotics, which is best known for building “Sophia,” a humanoid robot that helped popularize AI. It should come as no surprise that SingularityNET works with OpenCog Hyperon to design and manage Sophia.
SingularityNET, hosted on both the Ethereum and Cardano blockchains, enables developers to submit their works for use by private or public companies. $AGIX is the native token of SingularityNET and is important for platform transactions.
Tokenomics
Ticker Symbol: $AGIX
Market Cap: $1.3B (At the time of publishing this article)
Circulating Supply: 1.27B
Max Supply: 2B
Chain: Ethereum, Cardano
SingularityNET basically helps users and developers work together to speed the development of AI; their ultimate objective is to create an AGI system that can match human skills and adapt to a variety of activities. SingularityNET tries to overcome many challenges with its broad learning environment.
6. Bittensor AI Tokens
AI models now require large amounts of data and processing power, which are mostly available to large organizations such as Microsoft, IBM and Google. But separate AI models are the result of this concentration. As a result, Bittensor aims to democratize AI and machine learning by transforming them into open resources that depend on collaboration and peer-to-peer interactions.
As an open P2P environment for developing, improving, sharing and trading AI and ML models, Bittensor functions basically as a decentralized blockchain network. $TAO, the native cryptocurrency of the Bittensor ecosystem, performs a number of tasks including payments, fees, governance, staking, and rewards.
Machine learning models work together to train, and they are rewarded in $TAO according to the value they add to the group. Additionally, $TAO enables external access, allowing users to customize the network’s operations to meet their needs and retrieve information from it.
With a similar total supply of 21 million tokens and lowered emission volumes every four years, it’s interesting to note that Bittensor’s $TAO takes inspiration from Bitcoin’s tokenomics.
Tokenomics
Ticker Symbol: $TAO
Market Cap: $4.1B (At the time of publishing this article)
Circulating Supply: 6.37M
Max Supply: 21M
7. Akash Network AI Tokens
Through decentralization, Akash Network is transforming the conventional cloud computing market by providing easy access to cloud resources. Through a global network of providers, it makes it possible for both people and companies to rent computer resources including CPU, memory and storage.
Akash was first focused on developing a conventional multi-cloud deployment platform. It was founded in 2018 by Overclock Labs, a software development company founded by Greg Osuri and Adam Bozanich. In an effort to decentralize cloud computing, it later changed its goal to the establishment of a distributed cloud computing marketplace. The Akash Mainnet went live in September 2020 after multiple testnet releases.
Decentralized cloud computing, a permissionless marketplace, strong security standards and flexibility with staking incentives are all included in Akash’s infrastructure. Additionally, Akash presented the idea of the Supercloud, a decentralized network that allows unlimited access to several providers’ GPUs and other computing resources.
In the meanwhile, the Akash Network promotes cross-chain cooperation and allows for easy integration with other blockchain networks by utilizing the Cosmos SDK. The Akash Network’s utility token, the AKT token, serves a number of purposes, including value exchange, community governance, network security and participation benefits.
Tokenomics
Ticker Symbol: $AKT
Market Cap: $1.2B (At the moment of publishing this article)
Circulating Supply: 229.7M
Max Supply: 388.5M
Chain: Cosmos, Osmosis
When it comes to cloud service providers, Akash Network presents a strong alternative. It provides flexibility, efficiency and cost-effectiveness to both people and companies when obtaining computing resources. Similar to how services like Uber and Airbnb transformed accommodation and transport options, Akash is changing the nature of cloud computing by making computing resources more accessible to a wider audience.
Read More: How to do Spot Trading on Binance: A Step-by-Step Guide
Wrap-Up About Top Performing AI Tokens
The diversity of AI web3 initiatives is amazing, ranging from Nosana’s creative method of democratizing access to computational resources for AI projects to DeepFakeAI’s focus on realistic deepfake generation and from Synesis One’s collaborative data marketplace to Bittensor’s attempts to democratize AI training.
This ecosystem is further improved by Render’s decentralized 3D rendering technology, SingularityNET’s goal of developing an AGI system and Akash Network’s disruption of conventional cloud services.
The potential of AI and web3 coming together is truly endless! Keep checking back for more!
