In this blog, you’ll learn
- Why AI crypto is here to stay
- Why AI crypto is in a temporary rough patch
- and why AI meme coins will be a key player in the next AI crypto surge
2023 will go down as the year AI went mainstream. Whether it was on LinkedIn or your local bar, in Q1, it felt like you were never more than two meters from a conversation about ChatGPT.
This hasn’t come out of nowhere, though. Plenty of industries have been embracing AI more and more over the past decade. Chatbots and customer service are now inseparable. As are the education sector and plagiarism detection software. Advanced algorithms and predictive maintenance help to minimize equipment downtime and poor product quality. And HR software now uses AI to review resumes.
AI was, and still is, the sexy new tech in town. And this has come at the expense of crypto. The investment was diverted. And the AI crypto market had lost $730 million by the start of Q2. Even Elon was trolling accordingly.
But as you’ll come to understand below, this supposed rough patch for AI crypto is a) temporary and b) irrelevant because there are too many good ideas to keep down from impressive AI crypto projects to promising AI crypto coins.
Plus, there’s every reason to expect that these market moves will be similar to anything else in the crypto space; so much of what goes down almost inevitably goes back up. As we’ll see below, a significant driver of this is simply a case of giving investors enough time to appreciate the true utility of certain projects. And since people are already taking advantage of AI crypto’s use cases – namely via the projects outlined below – this crypto bounceback seems extra likely to touch the AI crypto industry.
Table of Contents
AI crypto projects like these are not going anywhere
If all AI crypto projects were just lazy and shameless examples of jumping on the bandwagon, then we may have cause for concern. No doubt such examples exist. But there are more than enough crypto AI projects promising real utility. And, as AI advances, it simultaneously elevates any potential these projects have; AI’s success = AI crypto’s success.
AI crypto trading projects
This was to be expected. High-frequency trading has been a feature of traditional finance for years. So, with the advent of AI, this additional improvement on human trading capabilities is a no-brainer.
There are several examples of AI trading projects that continue to grow and defy the decreasing trend of AI crypto. Already is claiming to be the “world’s most powerful crypto trading platform.” It offers the ability to trade across multiple exchanges, and with its advanced bots, you can improve both the quality and quantity of your trades. Kryll allows for much of the same. However, it also offers a Marketplace where users can rent bots that have been submitted by other users. This can be a great place for any newcomers to get started. 3Commas is another platform that could appeal to beginners. It has bots designed for the bull, bear, and sideways markets. Many of these platforms also have their own tokens.
Then, sitting alongside these platforms are AI insight platforms. Tools like CoinScreener are enabling users to make better decisions by offering advanced insights and trading signals. And again, as with the trading platforms, many of these insight platforms are doing their own ICOs.
SingularityNET
This project has given itself a hefty goal. In their words:
“Our core mission is the development of Artificial General Intelligence (AGI) for a beneficial technological Singularity.”
For those needing a quick recap/explanation, AGI is the hypothetical, multi-faceted type of intelligence that will be greater or equal to that of a human brain. This technological Singularity is the term for the point at which AI either gains self-awareness or becomes so advanced that we can’t control it. Whilst that may sound scary, bear in mind that since their goal is for this Singularity to be beneficial, SingularityNET is fighting the good fight, trying to ensure the (probably inevitable) robot revolution is a help, not a hindrance.
Supporting this goal is Singularity’s program for incubating promising AI projects. These are spread across a range of industries, such as Robotics, Biotech, DeFi, Enterprise-level AI, and others.
Source: Singularitynet.io
Alt text: Infographic showing the project that SingularityNET is incubating.
Complementing these bold ambitions is another endeavor: its decentralized AI marketplace. Here, SingularityNET is aiming to set AI amongst the people – or rather, any developers looking to go further into AI. On the marketplace are 80+ AI tools submitted by a range of developers, with most of the tools offering demo capabilities. These tools range from fun and simple to more complex and useful. They include:
- Speech Emotion Recognition: This labels a WAV file of any spoken English audio with its emotional range.
- A Risk-Aware-Assessment: “a graphical and quantitative assessment of probabilistic forecasts.”
- Minecrafting Service: A simple app that turns any image into a Minecraft-style image.
Powering the SingularityNET is the AGIX utility token. This serves as a payment method for any marketplace transactions and as a tool for staking and governance in the AGIX community.
SingularityNet has been a champion of AI and crypto from the very start, having been around long before anyone had heard of ChatGPT. It serves as a reminder that AI can benefit from blockchain and crypto just as much as crypto can benefit from AI. And when we combine the two industries, everyone, from investors to humanity, can benefit.
Fetch.ai
The Fetch.ai platform allows you to utilize AI agents. These are AIs that can autonomously act on your/your business’s behalf to complete a range of tasks. These include price bidding on assets and commodities, searching and booking airline flights, optimizing resources within large systems like, say, a smart city, and more. AI agents are essentially multi-purpose efficiency boosters that can act as additional digital team members.
Since they utilize machine learning, they can change their behavior over time, continuously increasing their efficiency. These agents are easy to integrate; in Fetch’s words, you can “wrap your API in a Fetch.ai Agent in minutes, without changing your underlying business application.”
Fetch.ai’s native token is the FET. Not only does it allow users to put their agents to work, but it also serves as both a governance and staking token. Here’s a full breakdown of the utility FET offers.
- Payment: FET is the currency that users need to pay for using the platform’s services, such as accessing data, executing smart contracts, and, of course, creating agents.
- Staking: By locking up FET, users can help secure the network and get rewards. Staking also enables them to access more features, such as collective learning.
- Governance: By holding FET, users can have a say in how the platform is run and developed. They can vote on various proposals and decisions that affect the project’s future.
- Incentives: FET is the reward that users and developers can get for contributing to the platform’s growth and innovation. For example, users can get FET by providing data or liquidity to the platform, while developers can get FET by creating applications or services for the platform.
Looking at all this new AI technology, it’s plausible that we’re not far off from a future where there’s an AI tool for just about every human need. And with that, a respective cryptocurrency. This means the rising tide of technology should lift all boats, boost AI even further, and usher in a second coming of AI crypto. Plus, we haven’t even gotten started on the meme coins – more on those later…
Still, we can’t ignore the fact that the AI crypto market has been suffering. For now, at least…
As we can see, January was a good month for AI crypto. But the hype was anything but sustained.
AI tokens trade volume – 2023
This is to be expected, though. The mood around crypto can be particularly fickle. AI crypto coins shouldn’t be any different. More to the point, countless successful technologies have met similar fates on their way to the top. As reflected by the perpetually relevant Gartner hype cycle.
Source: Wikipedia
Couple this with the fact that we’re still very much in the midst of a crypto bear market, and faith in both AI crypto projects and new AI technology need not be called into question. There’s every reason to believe that the tables are about to turn, leading us firmly toward a bull market in the not-so-distant future.
A recent report from Bitget anticipates a resurgence in AI crypto. A lot of this hinges on there being notable breakthroughs in AI. This is hardly something to lack faith in. The prevailing attitude around AI domination seems to be more a case of when not if.
A wave of such breakthroughs could already be at our doorstep. In mid-August, a collaboration between Fetch.ai and data-sharing platform Ocean launched a new data exchange system that preserves privacy for the user. And the presale for the predict coin, powering “the world’s most advanced crypto research platform,” is going from strength to strength.
If we also zoom out and consider the cryptosphere as a whole, it wouldn’t be foolish to believe we’re due another bull run shortly. The halving is approaching, and historically, this has marked the beginning of an upward trajectory.
Why the forthcoming AI crypto bull run will involve meme coin mania
Meme coins have had their fifteen minutes of fame on more than one occasion. We’ve had Elon sending Doge to the moon, and 2023’s meme coin mania made plenty of investors happy. Yes, meme coins aren’t exactly pumping right now. But we can remain confident that an AI meme coin bull run is just around the corner. Here’s why.
Firstly, let’s talk about meme coins themselves.
Anyone who thinks meme coins are dead is misguided. Doge, Shiba Inu, etc., are still in front of the house on sites like CoinMarketCap. And while the traditional finance world dismisses these coins, a loyal and engaged community lives on. A community that actually understands internet culture and appreciates the fun these coins bring.
Also, Elon Musk can’t be ignored. He continues to pump Doge. Which, in turn, influences other meme coin prices. And for the average investor, he is a much more relatable voice than any of the naysayers in the world of TradFi.
Thirdly, meme coins are the ultimate speculative investment. They’ve created millionaires thanks to their crazy price swings. So, for the retail investor who felt like they got into Bitcoin a little too late, they’re always going to look appealing.
Meme coin AI trading volume 2020 – 2023
As for AI meme coins
This is the party that is just about to get started. Think about it. Everything is in place. It’s full steam ahead on the AI train. As discussed, there’s plenty of reason to believe that the next crypto bull run is on the horizon. And, most importantly, there are some neat meme coin AI projects already bubbling up. Whether it’s the Shibot AI virtual pet or the ARBDOGE token, AI meme coins are offering loads of untapped potential, fun, and, most importantly, gains.
A brand new AI crypto meme coin
Just as we have seen, meme coins are continuing to pique investors’ interest. One of those that has arrived recently is a particularly fun one that has caught the eye of discerning crypto investors. Sent from the year 2077, Memeinator combines ‘90s action movie branding with a killer sales pitch: destroy all weak meme coins. The Memeinator is on a laser-focused war against the legions of worthless meme coins it sees taking up space in people’s bags. It already has a vibrant community of over 20k Twitter followers and is planning on reaching a $1 billion market cap.
Most importantly, though, it has plans for an AI-powered game: Meme Warfare. Playing as the Memeinator, you will stomp through a virtual wasteland, obliterating weak meme coins. With the help of AI, the coins featured in the game will be a real-time reflection of their performance in the market; if Pepe is underperforming, he will be firmly within Memeinator’s crosshairs.
Final thoughts
AI and crypto are too promising to keep down. And meme coins are too exciting and loved to ignore. It’s very hard to say how the next few months will pan out in the cryptosphere. But when it comes to investing, betting on quality technologies and engaged, committed communities has often been a solid tactic.
If you’re in this game to make exponential profits, then the AI meme coin space is definitely worth paying attention to. With projects like Memeinator just about to kick off, now is the time to take advantage of the second coming that TradFi money doesn’t see coming.
Bring your wallet and your memes. It’s going to be quite the ride.
