Explore the growing trend of AI-based tokens in the cryptocurrency market and discover our selection of the best performing AI tokens of 2024.
Table of Contents:
Why Are AI Tokens Growing in February?
OpenAI’s Nvidia and Sora results
In February, the cryptocurrency market witnessed a significant increase in the value of AI tokens. This positive trend was mainly due to Nvidia’s exceptional financial results for the fourth quarter, which exceeded expectations.
Nvidia revealed that its earnings per share reached $5.16, beating forecasts of $4.59 per share. Additionally, the company reported revenue of $22.1 billion, well above Wall Street expectations of $20.4 billion
.
Another crucial event was the introduction of OpenAI’s new video tool, Sora, on February 19. Sora is an advanced generative artificial intelligence technology, capable of converting written descriptions into photorealistic video content. After its launch, Worldcoin — a project co-created by the CEO of OpenAI, Sam Altman — reached a new maximum price of $7.95, with the market capitalization temporarily exceeding one billion dollars
.
These events have had a positive impact on the entire cryptocurrency market, especially favoring tokens focused on artificial intelligence. These tokens experienced price increases, with some showing growth of up to 20% in a single day. Similar trends were observed in 2023, during the widespread adoption of the ChatGPT AI chatbot and the record performance of
Nvidia shares.
The Best AI Tokens of 2024
Worldcoin (WLD)
Worldcoin, co-created by the founder of OpenAI, Sam Altman, aims to provide each individual with a reliable method to authenticate their humanity, distinguishing real users from bots or AI constructs. Worldcoin’s infrastructure is based on three key elements: the World ID for identity verification, the World App for user interaction, and the Worldcoin tokens (WLD) for transactions within the ecosystem
.
Worldcoin uses iris scanning technology to generate secure and unique identification codes, recorded on a blockchain to ensure they are tamper-proof. Currently, the WLD token is trading at $7.37 USD, with a market capitalization of around $1 billion, and has seen an increase of nearly
220% in the last month.
SingularityNET (AGIX)
SingularityNET is a blockchain-based ecosystem that offers a decentralized AI marketplace, allowing users to produce, distribute and earn from AI services. The goal of SingularityNET is to create a global, open-source and democratic AI ecosystem, where developers can collaborate and access AI algorithms and services
without intermediaries.
The platform uses AGI tokens to facilitate transactions within the network. These tokens are used to hire AI services available on SingularityNET. Currently, the AGIX token is valued at $0.671094 USD, with a market capitalization of $843,294,954 USD, marking an impressive gain of
more than 151% over the past month.
Fetch.ai (FET)
Fetch.ai is a decentralized network designed to connect autonomous agents using AI and machine learning to solve collaborative problems in various industries. Fetch.ai can be used to automate everyday tasks such as booking a parking space or a flight. Founded in 2017, Fetch.ai aims to democratize access to AI, allowing users to use digital agents for tasks ranging from DeFi to transportation without centralized control. Currently, the FET token is trading at 1.09 USD and has a market capitalization of $907,988.105 USD, an increase of
almost 84% in the last month.
Render Network (RNDR)
The Render Network is a decentralized platform that uses the excess computing power of cryptocurrency miners, who offer their graphics processing units (GPUs) for rental. Using the RNDR token, the network encourages active participation through a flexible pricing strategy that varies with the complexity of the work, the urgency and the availability of resources. Currently, the RNDR token has a market price of $7.41 and a market capitalization of $2.8 billion, with an 87% growth in the
last month.
The Graph (GRT)
The Graph Protocol is a decentralized platform that allows efficient queries on blockchain data using artificial intelligence. It serves as infrastructure for dApps by indexing data from blockchains such as Ethereum and organizing it into open APIs known as subgraphs. The protocol uses the GRT token to power its economy. Currently, GRT is trading at $0.2826 and has a market capitalization of $2.6 billion, an increase of more than 80% in the last month
.
The recent increase in the value of AI tokens, influenced by Nvidia’s exceptional results and the launch of OpenAI’s Sora, has highlighted the vast potential and growing interest in blockchain projects integrated with AI. Key examples include Worldcoin, SingularityNET, Fetch.ai, Render Network, and The Graph Protocol, each demonstrating the various applications of AI
in blockchain technology improvements.
