Beginners Guide to AI Tokens: What You Need to Know About AI-Related Cryptocurrency

Artificial Intelligence (AI) tokens have been on the rise in the cryptocurrency market, outperforming leading cryptocurrencies in the past 7 days.
AI tokens are cryptocurrencies that utilize AI to improve various factors such as security, scalability, and user experience. These tokens power AI-related projects such as decentralized AI marketplaces, AI-powered portfolio management, and autonomous organizations.
Examples of AI platforms and their tokens include Fetch (FET), SingularityNET (AGIX), Hera (HERA), Numerai (NMR), Oraichain (ORAI), Alethea AI (ALI), and Ocean Protocol (OCEAN).

Since the popularity of ChatGPT and chatbots in various industries by the end of 2022, the world has been seeing the benefits of utilizing AI to enhance human essentials.

One of the sectors that is enjoying the integration of AI is the crypto industry, where AI tokens existed as early as 2017. In fact, SingularityNET, or $AGIX, which is the fifth highest AI token in terms of market cap, existed in that year, according to CoinGecko.

Also read: 24+ Potential Crypto Airdrops to Watch Out For in 2024

What are AI tokens?

Basically, AI tokens are cryptocurrencies developed by protocols that utilize AI to improve security, user experience, scalability, or a variety of other factors. These tokens are designed to power AI-related projects such as decentralized AI marketplaces, AI-powered portfolio management, predictions, image generation, path finding, autonomous organizations, and more.

AI tokens may also give their holders governance rights or may be leveraged as a fee for transactions on an AI platform. But to be clear, AI tokens’ fiat value is similar to ordinary cryptocurrencies like $BTC and $ETH, not what many thought that an AI token’s price depends on the decision of an AI tool.

Current AI platforms, its Tokens, and their Use cases

Fetch (FET)

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Launched in June 2019, Fetch.ai system is a decentralized platform used to build intelligent, autonomous software and tools which allows builders to launch data analytics, decision-making, and prediction bots.

FET, its token, is the main medium of exchange within the Fetch.ai ecosystem–FETs are used to pay for the services provided by Fetch.ai.

February 2024 Price	$1.11031
February 2024 Market Cap	$924,004,573
All Time High	$1.18568 (Sep 8, 2021)
30-Day %	+92.55%
1-Year %	+154.78%

SingularityNET (AGIX)

SingularityNET is a platform that provides an open-source, decentralized blockchain market which allows its users to buy and sell a wide variety of AI-related products and services. The platform also serves as a marketplace that allows trades of models, data, and other tools used to improve AI through training. SingularityNET was launched in December 2017.

Through its token AGIX, AI developers can offer their services and users can access those services as well as buy and sell AI-related goods on SingularityNET’s open-source, decentralized blockchain market.

February 2024 Price	$0.69808
February 2024 Market Cap	$492,766,794
All Time High	$1.85891 (Jan 20, 2018)
30-Day %	+178.18%
1-Year %	+73.84%

Hera (HERA)

Hera, launched in 2022, is an AI-powered pathfinder–an algorithm or system that helps users find the most efficient and profitable trade path when trading on Decentralized Exchanges (DEX). To execute its utility, it uses machine learning algorithms that analyze prices, liquidity, trading volumes, and other data.

Hera tokens allow its users to participate in the project’s governance and to split protocol earnings.

February 2024 Price	$5.19
February 2024 Market Cap	$20,533,366
All Time High	$10.45 (Dec 27, 2023)
30-Day %	+18.3%
1-Year %	+110.5%

Numerai (NMR)

Released in 2015, Numerai is a decentralized AI-based portfolio management protocol which utilizes machine learning algorithms to make investment decisions. To evaluate potential investments, the hedge fund uses a set of crowdsourced forecasts from data scientists around the world. Then, Numerai uses these predictions to drive its own trading algorithms.

For making accurate predictions, contributors are rewarded with its native token NMR. The token is also used as a means of accessing the platform’s services.

February 2024 Price	$34.9084
February 2024 Market Cap	$216,666,753
All Time High	$168.488 (Jun 25, 2017)
30-Day %	+96.83%
1-Year %	+73%

Oraichain (ORAI)

Orichain is an Oracle Solution for AI data which allows smart contracts to get data and information from the outside world apart from the data within their own blockchain.

Launched in 2020, Oraichain was released as a blockchain-based ecosystem for decentralized AI, and uses AI and blockchain to create a secure, transparent, and decentralized infrastructure for building and deploying AI applications.

The platform and its architecture–designed to focus more on AI data sources–allows the integration of AI data and services into smart contracts. This feature enables the creation of decentralized applications (dApps) that utilize AI capabilities and the creation of a wider range of AI-based services, such as natural language processing, computer vision, and predictive analytics, and enables the exchange of these services among the participants in the ecosystem.

Its native token ORAI is used for staking and governance. It is also required to run an AI request sent to the Oraichain network.

February 2024 Price	$9.09500
February 2024 Market Cap	$115,561,829
All Time High	$18.7872 (Nov 15, 2021)
30-Day %	+50.94%
1-Year %	+48.38%

Alethea AI (ALI)

Alethea image generator, basically uses AI to create images based on input from users. It was launched in 2021 and became known through ChatGPT.

ALI token, standing for Artificial Liquid Intelligence, is used in the generation of character NFTs as well as for upgrades, incentives, and transactions.

February 2024 Price	$0.05519
February 2024 Market Cap	$198,020,631
All Time High	$0.19891 (Apr 2, 2022)
30-Day %	-14.51%
1-Year %	+19.42%

Ocean Protocol (OCEAN)

Ocean Protocol was launched in November 2018, and it pursues to make data sharing seamless and monetize data while ensuring data privacy. Ocean allows the data owners to approve the use of AI algorithms on their data which trains AI models that can lead to improved predictive accuracy of models and other benefits without compromising the privacy of the data.

Its utility token, OCEAN, can be used for staking on data curation and for buying and selling data on the Ocean marketplace.

February 2024 Price	$0.73709
February 2024 Market Cap	$418,950,737
All Time High	$1.94072 (Apr 10, 2021)
30-Day %	+79.39%
1-Year %	+68.68%

Akash Network (AKT)

Akash Network claims to leverage the power of the combination of blockchain technology and cloud computing. It has developed an open-source, decentralized, marketplace for cloud computing, offering an unprecedented level of speed, efficiency, and affordability.

AKT is the native cryptocurrency token of Akash Network that is integral to securing the network, executing transactions and contracts, and incentivizing community participation through staking and rewards.

February 2024 Price	$4.15
February 2024 Market Cap	$948,937,821
All Time High	$8.07 (Apr 6, 2021)
30-Day %	+76.3%
1-Year %	+683.9%

Render (RNDR)

Render Network Foundation is a provider of decentralized GPU-based rendering solutions, seeking to revolutionize the digital creation process.

The network basically connects node operators looking to monetize their idle GPU compute power with artists looking to scale intensive 3D rendering work and applications to the cloud.

February 2024 Price	$7.45
February 2024 Market Cap	$2,798,624,215
All Time High	$8.78 (Nov 21, 2021)
30-Day %	+106.7%
1-Year %	+375.1%

Bittensor (TAO)

Bittensor is an open-source protocol that utilizes blockchain technology to create a decentralized machine-learning network.

This network enables machine learning models to train collaboratively and be rewarded in TAO according to the informational value they offer the collective.

TAO also grants external access, allowing users to extract information from the network while tuning its activities to their needs.

February 2024 Price	$617.38
February 2024 Market Cap	$3,894,999,696
All Time High	$698.668 (Feb 16, 2024)
30-Day %	+148.6%
1-Year %	N/A

Corgi AI (CORGIAI)

CorgiAI is a community-driven AI project centered around the creation of a tight knitted family—hard working corporate Corgis by day, party Corgis by night.

The club claims to be created with one objective in mind: to unleash the power of togetherness and build tools to enable the ultimate community.

$CORGIAI is the core token used within the CorgiAI ecosystem that is said to be equipped with a staking utility and will be used as a purchasing token for all upcoming CorgiAI-related initiatives.