Artificial intelligence (AI) has integrated with cryptocurrencies in the past few years and has led to the rise of a new class of digital assets known as AI cryptocurrencies.
These AI cryptos leverage AI capabilities, offering several forms of utilities within their respective ecosystems. Here are the 10 best AI cryptocurrency that you must consider buying in August 2024, if you want to stay ahead in the crypto as well as AI race.
Market cap: $2,136,143,625
Market price: $0.8453
Fetch.AI NET has positioned itself as the largest crypto AI token by market capitalization by early 2024, making it one of the best AI crypto to invest in August 2024.
Founded by Humayun Sheikh (also the CEO), Toby Simpson, and Thomas Hain, this AI cryptocurrency has raised nearly $115.9 million in funding, including various rounds and notable investments, such as $40 million from DWF Labs in early 2024.
Fetch. AI has teamed up with other AI cryptos- Singularity NET and Ocean Protocol, to launch the Superintelligence Alliance, merging AGIX, OCEAN, and FET into $ASI (Artificial Superintelligence).
Apart from its features, its price value makes it makes Fetch.AI NET one of the best AI cryptocurrency to buy .
Market cap:$4,108,890,106
Market price: $3.70
NEAR Protocol (NEAR) is a layer-1 blockchain built to offer a scalable and developer-friendly environment for creating decentralized apps (dApps). It seeks to provide faster transaction speeds, lower fees, and enhanced usability. NEAR as an AI crypto makes for the best investment to buy in 2024.
The protocol uses a sharding method to boost its scalability and performance. Sharding divides the network into smaller, more manageable segments called shards, each handling a part of the network’s transactions simultaneously. The architecture, Nightshade, enables NEAR to process a high volume of transactions—up to 100,000 transactions per second (TPS) without compromising on security and efficiency. NEAR has a consensus mechanism known as Thresholded Proof-of-Stake (TPoS).
Market cap: $1,792,069,074
Market price: $4.56
Render Network(RNDR)is a blockchain platform built on Ethereum that is working toward decentralizing GPU cloud rendering by linking those in need of rendering services with owners of high-performance GPUs.
It is one of the leading projects on Solana and certainly one of the top AI crypto to buy in August 2024. Render allows artists, individuals, and companies to perform rendering tasks more cost-effectively and swiftly compared to traditional centralized solutions.
Creators submit rendering jobs, and node operators use their available GPU capacity to complete these tasks, earning RNDR tokens as payment. Render Network supports a variety of tasks, ranging from simple rendering for gaming and entertainment to more intricate projects involving AI and machine learning. It promotes the democratization of GPU cloud computing, especially for Web3 creators, by accommodating various budget constraints.
Market cap: $1,306,155,298
Market price: $0.1368
The Graph (GRT) is a decentralized, open-source indexing protocol that gathers, processes, and stores data in a way similar to web search engines like Google.
It enables users to browse and interact with various blockchain ecosystems and their associated decentralized applications (dApps). The Graph supports at least 14 languages making it one of the most sought-after AI crypto tokens.
It has Subgraphs, which are specialized indices designed to improve data querying across multiple networks, including EVM-compatible blockchains and the InterPlanetary File System (IPFS).
Subgraphs index all publicly available information globally, serving as a bridge between Web2 and Web3. This data can be stored, organized, and shared among applications, making it readily accessible for queries. Transactions are conducted using the protocol’s native token, GRT.
GRT has one of the largest token supplies in the AI sector, with a maximum supply of 10,799,004,319 tokens and around 9.5 billion tokens currently in circulation. Recently, the protocol has ventured into decentralized AI, introducing Agentc, an open-source ChatGPT-like tool.
Market cap: $1,823,368,622
Market price: $252.53
BitTensor is an open-source infrastructure based on a blockchain known as Subtensor. It employs a distinctive consensus mechanism called Proof-of-Intelligence (PoI), which, similar to Proof-of-Work (PoW), rewards participants for their contributions across various technology and research areas within the BitTensor network.
The platform operates as a decentralized marketplace with multiple subnets, each dedicated to specific tasks. Unlike parallel chains in systems like Avalanche, these subnets function as competitive marketplaces for AI, machine learning, data storage, price feeds, cellular automation, and more.
An example of a BitTensor subnet is Decentralized AI Detection, where miners are incentivized to share their discoveries, solutions, tools, and frameworks to help the network identify content generated by large language models (LLMs) like ChatGPT.
BitTensor was supported by Polychain Capital, one of the major crypto venture firms, which invested over $200 million into the project. It also released the BitTensor Language Model (BTLM) in collaboration with Cerebras.
Market cap: $653,054,309
Market price: $2.64
Akash Network is a prominent AI crypto coin that introduces a cloud-computing marketplace where users can buy and sell cloud resources using AKT as the payment method. It gained recognition as one of the leading AI crypto coins due to its straightforward model: users needing cloud computing can purchase resources from those with surplus capacity in a peer-to-peer setup.
The platform's main advantage is its ability to offer decentralized storage and asset ownership at a lower cost compared to traditional centralized systems, making it attractive to both businesses and individuals.
Akash has established partnerships with major entities in the crypto space, including Coinbase Prime, which provides custodial services for AKT, and Solve.Care, a blockchain-based healthcare platform focused on decentralizing patient data and integrating blockchain benefits into healthcare systems.
Market cap: $545,722,671
Market price: $0.4956
AIOZ Network, developed by the tech company AIOZ, is a blockchain-based platform designed to deliver scalable and reliable solutions in Web3 storage, AI computing, live streaming, and video on demand.
AIOZ makes AI development more democratic and decentralized through two main offerings: the W3AI marketplace for AI computation and the Web3 AI Platform, which provides a range of AI solutions for businesses, developers, and individuals.
It operates on the Cosmos network and is compatible with BEP and EVM. AIOZ uses a Delegated Proof-of-Stake (DPoS) consensus mechanism powered by Tendermint Core, enabling up to 1,500 transactions per second. Its Decentralized Content Delivery Network (dCDN) leverages a global network of nodes to offer additional computing power.
AIOZ provides a decentralized marketplace for the Decentralized Physical Infrastructure (DePIN) market, allowing contributors to monetize their AI-related assets and computing resources. It is the first DePIN project listed on Nvidia’s Accelerated Applications Catalog, alongside industry leaders such as Adobe, Epic Games, and Autodesk.
Market cap:$233,850,345
Market price: $0.3967
SingularityNET is a marketplace for AI products and services that enables users to develop AI-powered models through its blockchain platform. It offers smart contract templates to simplify and accelerate the development and deployment process.
The platform allows developers to create AI models and systems or purchase existing ones to integrate into their projects, fostering a decentralized AI ecosystem that benefits both developers and projects. Transactions on the platform are conducted using the native token, AGIX. The coin reached an all-time high of $1.46 on March 10, 2024.
Market cap: $137,486,983
Market price: $0.3748
Ocean Protocol, certainly features in our list of 10 best AI cryptocurrency to buy in August 2024. It facilitates the direct sale of specific data by suppliers to consumers across various industries, including healthcare, politics, finance, and e-commerce. It supports Javascript and Python and provides a library of resources and tools for building AI decentralized applications and APIs for monetization. Ocean Protocol is part of the Superintelligence Alliance, alongside SingularityNET and Fetch.ai, and has partnered with NIM Network to integrate AI into gaming, joining the AI Gaming Coalition.
Market cap: $6,120,416,499
Market price: $10.07
Chainlink is the largest decentralized oracle network. It helps blockchain networks communicate with the outside world, as decentralized networks like Ethereum have no direct link with the off-chain data and events. On top of that, it facilitates cross-chain communication, improving interoperability across blockchains.
The oracle system can be integrated into many AI use cases, helping blockchains access AI datasets through Chainlink functions.
LINK is one of the largest cryptocurrencies, with a market cap in the billions.