As the digital age continues to evolve, the blend of technology and finance is becoming more sophisticated. Among the innovative trends in the crypto world, Generative AI projects are capturing significant attention. These cryptos hold an immense potential, especially given the increasing adoption of artificial intelligence across various industries. Here is the list of the top 3 Generative AI cryptos by market cap in July 2023.
Generative AI is a subset of artificial intelligence that focuses on creating new content from scratch. This technology can generate everything from simple data patterns to complex pieces such as images, music, and even human-like text. Its capabilities stem from machine learning algorithms, particularly Generative Adversarial Networks (GANs), that train on massive datasets to learn and mimic the distribution of this data.
What are Generative AI Cryptos and What do They Offer?
Generative AI cryptos are digital currencies tied to platforms that leverage Generative AI technology. They offer a diverse range of applications, including creating unique digital art, synthesizing new data for research, and enhancing security by creating data that can be used without infringing privacy. These cryptos are linked with decentralized platforms that offer services harnessing generative AI capabilities. Holding these tokens often represents a stake or governance right in the respective platforms.
Is Generative AI the Future?
Given the strides in machine learning and the boundless potential of Generative AI, many believe it is the future. As we progress in the digital age, AI’s ability to create new, unique content will open up countless opportunities, making it a potentially lucrative area for investment. Coupled with the decentralized nature of blockchain, Generative AI cryptos represent a fusion of two cutting-edge technologies poised to redefine digital spaces.
Top 3 Generative AI Cryptos by Market Cap
1. Numeraire (NMR)
With a current market cap of $81 million, Numeraire tops the list of Generative AI cryptos. Numeraire operates on a unique principle: it provides a platform where data scientists globally compete to create the best predictive models. The NMR token is used as a betting tool on these models, effectively creating an AI-driven hedge fund.
2. Ambire AdEx (ADX)
At a $20 million market cap, Ambire AdEx secures the second spot. AdEx is a decentralized ad network that uses AI to address some of the ad industry’s most significant challenges, such as fraud and privacy. It employs AI algorithms to optimize ad display and audience targeting, ensuring a mutually beneficial environment for advertisers and viewers.
3. Image Generation AI (IMGNAI)
Coming in third with a market cap of $14.5 million, Image Generation AI, or IMGNAI, is revolutionizing the digital art space. It employs advanced AI algorithms to generate unique digital images, offering a new approach to content creation in the digital art and NFT markets.