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Some time ago, due to the release of OpenAI’s Sora and the release of Nvidia’s financial report, Nvidia’s market value was close to 2 trillion US dollars, which made the popularity of the AI track in the Crypto industry soar, and projects such as WLD, AGIX, FET have performed well.In recent days, due to the overall improvement of the market and the NVIDIA AI Conference, the AI track has once again exploded.
At present, there are more than a few hundred AI+Web3 concept projects, covering multiple directions such as infrastructure, data, and computing power., and top institutions such as a16z and Binance have begun to lay out related tracks. AI + Web3, as a new narrative, is destined to run through this bull market. Today, Baihua will take you to briefly take stock of the AI track.
01Similar trajectories of AI + Web3 and the Metauniverse
Although new narratives have been emerging in the Crypto industry and each bull market will be different, there are some similarities in the development process, such as the AI track and the metaverse track, which are both products that extend from Web2 to Web3.
The Meta Universe became popular at the beginning because the first stock of the Meta Universe Roblox was in the limelight at that time, and then it blew the wind into the Crypto industry, which led to the Crypto version of the Meta concept. In addition, with FaceBook renamed Meta, it made the relevantThe concept has been fully promoted, and the meta-universe-related concepts of the Crypto industry have also reached their peak in this environment.
Recently, it has been a long time since I heard you mention the concepts related to the metaverse again. I checked it.Reports on “Roblox, the world’s first stock in the meta-universe concept”, have been a variety of negatives. Listing has fallen continuously, 70% of revenue relies on marketing, and market value has dropped by more than 70%. While the first stock in the meta-universe has stopped, the Crypto industry’s YuanThe concept of the universe is almost over.
Can the meta-universe related concepts be raised in the future? But how similar is the development of the AI track in the Crypto industry?,The first climax began with the release of ChatGPT, coupled with the extensive coverage of domestic and foreign media, BN’s only two AI projects have been thriving. Although it has been criticized by everyone for not being able to do technology, it is not big, but as long as AI is mentioned, FET and AGIX must be among them;The second wave is due to the recent release of OpenAI’s Sora, which has led to the arrival of AI-related concepts again.
It can be seen that the development of the Crypto industry’s AI track currently relies more on OpenAI. Most projects are in the concept stage or mainly rely on salons, and have not yet been well-established.Imagine if OpenAI eventually stagnates or collapses, will the Crypto industry AI track still be so popular?
02AI track classification
At present, the combination of AI + Web3 mainly focuses on algorithm models and data directions. Specifically:
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Decentralized computing power (GPU)
As AI models become more and more complex, the demand for computing resources is also growing rapidly, especially for high-performance hardware such as GPUs.From the perspective of AI, the application of computing power can be divided into two directions: reasoning and training.Currently, it is mainly focused on the inference direction because it is relatively simple and has low hardware requirements.However, the development of training directions still faces many challenges because it needs to be combined with neural network design and has extremely high hardware requirements, so it is very difficult to implement.
The core idea of a decentralized computing system is to enable owners of computing resources to rent out their idle resources and trade in a secondary market through competitive pricing and easy access.This means that teams can rent computing resources on demand, while resource owners can rent out their resources at competitive prices, improving market efficiency and avoiding the issue of idle resources.In addition to economic and efficiency benefits, decentralized computing systems also have important value in censorship resistance.
At present, most computing power projects are just following the trend, promoting decentralization with high profile, but ignore the inefficiency of decentralized networks. Many projects are seriously homogeneous in design.
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zkML (zero knowledge machine learning)
Since smart contracts can only do some pre-set events, slightly more complex running costs will be too high or cannot be implemented.Integrating AI (such as machine learning models) into smart contracts can increase functionality, security, and efficiency, and improve user experience.Of course, this integration also brings additional risks, as there is no guarantee that models that support smart contracts will not be attacked and it is difficult to deal with model training problems in case of insufficient data.
Machine learning requires a lot of computing resources to run complex models, which makes it expensive to run AI models directly within smart contracts.To reduce the high cost of running AI models in smart contracts, some projects are investigating methods using zkML.zkML can be calculated off-chain, but only the proof of verification results is submitted on-chain.This can greatly reduce the demand for on-chain computing, reduce costs, and maintain trustless features.This approach is particularly suitable for scenarios where a large amount of computing resources is required, such as the profit optimization model in the DeFi protocol.
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AI Agent
AI agents are robots that can automatically receive, understand, and perform tasks, using AI models to make decisions and actions.Agents play an important role in the combination of AI and cryptocurrencies.Cryptocurrencies provide a payment infrastructure that requires no permission and no trust, and agents can take advantage of this feature.
Once agents are trained, they can have their own digital wallets that enable them to trade directly with smart contracts.For example, a simple agent can use AI models to search for information on the Internet and trade based on predicted market conditions.Agents can make decisions and execute transactions independently through smart contracts without relying on the trust of third parties.
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AI empowers DApp
AI empowers Dapps is a very common direction.bornThe wide applicability of adult AI allows it to be accessed through APIs, thereby simplifying and intelligentizing various applications, including data analysis platforms, transaction robots, blockchain encyclopedias, etc.
In addition, generative AI can also play chatbots (such as Myshell) or AI companions (such as Sleepless AI), and can even create virtual characters (NPCs) in chain games.However, due to the low technical barriers, many applications simply connect to an API and fine-tune it and call themselves an AI project.
03Representative Project
Let’s take a look at several strong projects. After all, in this industry, in an environment where the strong are always strong, it is still too difficult for most investors to obtain alpha returns, and it is also good to seize Beta steadily.In addition, the AI track has been very popular in the short term recently, so pay attention to the risk of pullbacks.
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Worldcoin
Worldcoin is a project founded by OpenAI co-founder Sam Altman, aiming to build a global identity and financial network for widespread adoption worldwide.At the heart of the project is World ID, which enables users to verify their identities online while protecting their privacy.
Worldcoin’s goal is to address some of the problems existing in the existing financial system and provide financial services and identity verification to billions of people around the world.By building a global identity network, it aims to provide a secure, reliable and privacy-protected way to verify an identity of a person.
With the recent surge in the popularity of the AI track, Worldcoin data are also rising.According to official reports, as of February 21, the number of proven World ID users has exceeded 3.5 million, and the number of daily users of its World App has exceeded one million.WLD’s market value is close to 1.2 billion, and its full circulating market value is 88 billion.From the background and other aspects, Worldcoin can be said to be the perfect flat target for the AI track, but due to its terrifying full circulation market value, it can scare away most investors.
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Render
Render focuses on meeting the growing computing needs in media production, especially in areas such as augmented reality, virtual reality and AI augmented media.By connecting to the global decentralized graphics processor (GPU), sharing computing power can complete AI video rendering and contribute AI computing power.Render’s core product is the integration with AI, helping artists generate assets and optimize digital art works by supporting AI-related tasks, and it also expands the ability to manage large-scale art collections and optimize rendering workflows.
Render’s vision is to build a decentralized computing power pool that connects the created computing power with applications that require computing power.The investors behind Render include Microsoft, Apple and other companies, and its parent company OTOY also fully supports it.OTOY, a company that is well-known in the field of video rendering, provides video rendering technology services to top technology companies such as Microsoft, Apple and Google.
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Fetch.AI
Fetch.AI is an open platform designed to build AI applications and services.By combining AI and blockchain technology, it provides users with an innovative way to leverage AI agents to perform various tasks and transactions.
AI agents are the core of Fetch.AI, and they are modular components that can perform specific tasks.These agents can connect, search, and trade autonomously, interact with other agents, and create dynamic markets.By integrating with these agents, traditional products can access AI, optimize business processes, and create new business models.Its goal is to promote the development of the smart economy, realize a decentralized digital economy, and improve the automation and efficiency of various processes.
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SingularityNET
SingularityNET is a decentralized AI platform and marketplace designed to connect a variety of AI tools and services and facilitate collaboration and transactions between them.It provides an open platform that allows AI agents to communicate and cooperate with each other, and also provides users with a convenient way to acquire and use AI technology.
On the SingularityNET platform, users can entrust tasks to different AI agents through transaction information, negotiated payments and ratings.Such a decentralized structure allows agents to cooperate and compete freely, providing users with more choices and high-quality AI services.
The goal of SingularityNET is to promote the development and application of AI technology and promote the widespread application of AI in various fields.By building an open platform and ecosystem, it is committed to strengthening the interoperability of AI tools and services and bringing more innovation and convenience to users.
Many times, FET and AGIX are discussed together. After all, they have always been in a state of rising and falling. Generally speaking, when it comes to AI track, they will definitely think of BN. Although professionals criticize others for their skills, they are not good, but becauseTaking advantage in the early stages does not prevent each wave of AI, and following the market value of both projects is approaching the 1 billion US dollar mark.
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Bittensor
Bittensor is an open source protocol, a blockchain-based decentralized machine learning network designed to democratize AI by creating a platform for multiple decentralized commodity markets (or “subnetworks”), andUnify it in a single Token system.Bittensor’s mission is to build a network comparable to large AI super companies such as OpenAI through unique incentive mechanisms and advanced subnetwork architectures.
Bittensor’s system can be regarded as a machine that efficiently transfers AI capabilities to the chain through blockchain.The network is managed by two key players: miners and validators.Miners submit pre-trained AI models to the network and receive rewards as contributions.Verifiers ensure the validity and accuracy of model output.This setup creates a competitive environment that inspires miners to continuously improve their models for better performance and more rewards (in the form of native Token TAO).The user interacts with the network by sending a query to the verifier, and the verifier distributes the query to the miner.The validator ranks the miner’s output and returns the highest ranked reply to the user.
Bittensor does not train models because the model training is complex and expensive.Instead, the network relies on a decentralized training mechanism.The validator’s task is to evaluate the miner-generated models using a specific data set and score each model by specific criteria such as accuracy and loss functions.This decentralized evaluation ensures continuous improvement in model performance.
Coingecko data shows that Bittensor currently has a market value of about US$3.6 billion. Because it occupies the two major tracks of PoW and AI, it performed well last year, but its overall liquidity is poor.
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Arkham
Arkham is an encrypted intelligent analysis platform that provides detailed data and analysis by connecting blockchain addresses to real-world entities.At the same time, using the concept of token economics, an intelligence trading platform was created, allowing users to buy and sell information from the owner of blockchain address.It uses an AI algorithm engine called Ultra to connect blockchain addresses to real-world entities to reveal the individuals and companies behind blockchain activities and provide relevant data and analysis.
The main product is Profiler, which provides a comprehensive view of entity or address activity, including transaction history, position, balance history, profit and loss, trading platform usage, and top counterparties.By using Profiler, users can get detailed information about entity activities and conduct more in-depth analysis.
Its goal is to systematically analyze and deanonymize blockchain transactions.Establish a decentralized intelligence-making economy to promote transparency and efficiency in the crypto market.It is worth mentioning that OpenAI co-founder Sam Altman is one of the investors.
04summary
The above is a summary of the AI track. As a new narrative of this round, coupled with Web2’s assists, it can be predicted that in this bull market, the AI track will inevitably occupy a place. In addition, you can focus on Web2.The industry’s AI progress, and general major events, will be linked between Web2 and Web3.
