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Top Catalysts for the Top AI Tokens

Altszn.com by Altszn.com
June 13, 2024
in Web3
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Top Catalysts for the Top AI Tokens
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AI tokens have dominated the market and mindshare over the past year, leading many to believe that this is the AI x Crypto cycle. However, in recent months, AI tokens have been on a downward trend, with many down 25-50% from their local highs.

This isn’t necessarily a cause for major concern, though. Corrections are a rite of passage during crypto bull markets. A pullback after a significant run-up is actually healthy for long-term performance, as it shakes out weak hands and sets the stage for the next phase of the cycle.

The real question is: what’s next? What upcoming developments in the top AI x Crypto projects could reignite the fire? Let’s find out! 👇

This is the AI x Crypto Cycle on Bankless

AI x Crypto is real. The fundamentals are there & so is the speculative degeneracy.


🔴 Render x Apple

At this year’s WWDC, Apple introduced Apple Intelligence, their new AI functionality suite for all devices. No surprise there; every big tech giant is jumping on the AI bandwagon. The real head-turner was the showcase of OctaneX, a 3D design software powered by the Render Network, on the latest iPad Pro.

Today at WWDC Apple shared their vision for Apple Intelligence, bringing AI agents to billions of users on iPhones, iPads, and MacBooks.

WWDC also featured #OctaneX, the first high performance GPU rendering platform natively optimized for next generation Apple Silicon -… https://t.co/LCvBHysrhU

— The Render Network (@rendernetwork) June 10, 2024

OctaneX on the iPad can use decentralized GPUs from the Render Network. Millions of Apple users will now have access to unprecedented rendering power. Imagine creating Hollywood-grade CGI on your iPad – that’s the kind of access Render and Apple are enabling.

#OctaneX was featured in today’s @Apple keynote!

Apple users can augment the massive increase in rendering power on the M4 with access to near unlimited high performance decentralized GPU compute power on @rendernetwork using Octane X. pic.twitter.com/WwfC8mIBB1

— The Render Network (@rendernetwork) May 7, 2024

The Apple integration is a major win for Render. It’s a validation stamp for Render’s tech and vision. Apple is basically saying, “Hey, this Render Network stuff is legit!” This could attract a whole new wave of developers and creators to the platform, further fueling the network.

As new Apple software hits the market later this year, it could be a big catalyst for Render as it will unlock a massive new user base for the network.  And here’s the cherry on top: more users using OctaneX means more demand for Render’s services and more value for the RNDR token. We already saw a price pump on the news; it could be a hint of things to come, so keep an eye on Render.

⚫️ Subnet Tokens on Bittensor

One of the major criticisms of Bittensor is that a small group of validators currently decides how TAO rewards are distributed across subnets. The BIT1 proposal, also known as Dynamic TAO, fixes this.

4. Our proposal is an improvement of Yuma Consensus’ bonding mechanism, which we are calling ‘Dynamic Tao’, or ‘Subnet Tokens’. These will introduce living markets to the creation and selection of Bittensor subnets. pic.twitter.com/toBxpX1eXT

— Openτensor Foundaτion (@opentensor) December 30, 2023

Dynamic TAO is one of the most anticipated proposals in Bittensor’s history, second only to the launch of subnets last year. It brings fundamental changes to the network:

  • Power to the TAO holders – Right now, a few validators decide how TAO rewards are distributed to subnets. This isn’t exactly fair or efficient as it could be influenced by the biases of a few entities. Dynamic TAO changes this by giving all TAO holders a say in allocating rewards to subnets. Imagine a network where everyone can influence how AI resources are distributed – that’s the future Bittensor is aiming to build.
  • Dynamic market for subnets – With Dynamic TAO, each subnet will have its own token, and its value will be determined in the open market. This incentivizes subnets to perform well and deliver valuable AI services. No more dead weight – only the most efficient subnets will grow. This also adds a speculative element to the Bittensor ecosystem, gamifying network participation for TAO holders and injecting market forces for each subnet into its growth.

Dynamic TAO is live for testing now with a full launch expected soon. The introduction of crypto-incentives at the subnet-level could be a big catalyst for Bittensor. This is a major step forward for Bittensor, giving both token holders and subnets a real voice in shaping the future of decentralized AI.

🟢 User-Owned AI on NEAR

Forget the memes about NVIDIA’s founder touching NEAR’s founder on the arm, NEAR recently announced the next stage of their roadmap: enabling NEAR to become the home for user-owned AI.

What did Illia see?

It’s time to reclaim your sovereignty.

NEAR was built to ensure every individual has true and complete ownership of their assets, data, and power to choose.

Today, we sit on the precipice of the greatest threat to our self-sovereignty; the concentration of… pic.twitter.com/whDa9FPdir

— NEAR Protocol (@NEARProtocol) May 22, 2024

This isn’t just hype. The NEAR Foundation is putting its money where its mouth is. They’re building a dedicated research lab (NEAR.AI) and attracting top AI talent to develop AI x crypto apps, plus an incubator and investment wing focusing on AI projects.

They’re also building the infrastructure for developers to build user-driven AI apps, such as tools for data collection, rewarding creators, and monetization while bringing crypto’s values to AI.

With its history, backing, and expert team, the NEAR ecosystem is set to become the de facto home of AI and Web3.

The intersection of our greatest threat to self-sovereignty and our greatest tool to protect it.

— NEAR Protocol (@NEARProtocol) May 22, 2024

NEAR’s focus on “User-Owned AI” could be a big catalyst for the project going forward. The team believes that their existing user base, developer ecosystem, and funding can make them a leader in user-owned AI.

Why AI Needs Crypto’s Values on Bankless

Artificial intelligence tech is developing quickly; it needs to adopt crypto’s philosophy.


Closing Thoughts

While recent market corrections may have dampened some spirits, there’s still life in the AI x crypto space. Look at these three projects: Render, Bittensor, and NEAR. Each is tackling a specific problem, and as they execute on their roadmap, things will get exciting again. 

And these are just a few examples. There’s a whole ecosystem of interesting projects emerging at this intersection, all building useful products. 

Plus, there are external factors to consider. OpenAI could have a breakthrough any day. Nvidia’s revenue is through the roof. Every time a major player makes a move in AI, it ripples through the entire space. 

The question isn’t whether AI and crypto will be big. It’s how big. Nobody knows for sure, but one thing is certain: it’s going to be interesting. 

Zeroing in on Crypto’s Hottest AI Opportunities on Bankless

Unpacking the projects innovating in zkML, AI agents, decentralized compute and more.





Read More: www.bankless.com

Tags: CatalystsTokensTopweb 3.0Web3
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    • xrpXRP (XRP) $ 2.62
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    • solanaSolana (SOL) $ 181.17
    • usd-coinUSDC (USDC) $ 0.999932
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    • staked-etherLido Staked Ether (STETH) $ 2,617.23
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    • hedera-hashgraphHedera (HBAR) $ 0.211790
    • pi-networkPi Network (PI) $ 1.24
    • hyperliquidHyperliquid (HYPE) $ 25.60
    • the-open-networkToncoin (TON) $ 3.36
    • leo-tokenLEO Token (LEO) $ 8.81
    • bitcoin-cashBitcoin Cash (BCH) $ 408.65
    • polkadotPolkadot (DOT) $ 5.12
    • litecoinLitecoin (LTC) $ 102.38
    • wethWETH (WETH) $ 2,617.52
    • usdsUSDS (USDS) $ 0.999995
    • moneroMonero (XMR) $ 339.87
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    • nearNEAR Protocol (NEAR) $ 3.16
    • aptosAptos (APT) $ 5.97
    • daiDai (DAI) $ 0.999904
    • aaveAave (AAVE) $ 229.58
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    • kaspaKaspa (KAS) $ 0.124058
    • jito-staked-solJito Staked SOL (JITOSOL) $ 217.91
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    • ethereum-classicEthereum Classic (ETC) $ 20.21
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