- ASI token, merging FET, AGIX, and OCEAN, led AI token rallies with a 60% weekly gain, while NEAR, ICP, and TAO also saw substantial increases.
- Grayscale’s launch of AI-focused funds has spurred greater interest in AI-related tokens, with a recent trust established for Bittensor.
- A Grayscale report criticises AI’s centralisation, noting crypto’s potential to address issues like deepfakes and data privacy through decentralisation.
- SingularityNET is developing a modular supercomputer equipped with advanced AI hardware, scheduled to launch in September 2024.
AI tokens have been rallying, with the Artificial Superintelligence Alliance (FET aka ASI – more on that later) leading among the best-known projects.
The token which represents the merged projects of FET, AGIX and OCEAN gained as much as 60% on the weekly timeframe. Meanwhile, NEAR Protocol (NEAR), Internet Computer (ICP) and Bittensor (TAO) gained 25.7%, 18.2% and 23.1% in the past week, respectively.
Grayscale News Boosts AI Token Performance
One factor for the AI rally is likely the anticipation of the latest results for Nvidia which has been a crucial player in the AI sector – the results are expected Wednesday.
Another factor for the increased interest in AI-related tokens and coins is Grayscale’s launch of AI funds. Most recently Bittensor got its own trust fund while the firm also offers exposure to the artificial intelligence sector through the Grayscale Decentralized AI Fund.
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But Grayscale doesn’t simply offer financial products, they also work on research in the sector. In a recent report, the company points to a lack of decentralisation in the AI field with a few key players – such as OpenAI and Google – having most of the control.
There are also concerns about the increasing misuse of AI systems especially in regards to deepfakes and data privacy. But, they say, crypto can help:
Fortunately, crypto — and its properties of decentralization and transparency — offers potential solutions to some of these problems.
GrayscaleThree Subcategories of Crypto and AI Intersection
Specifically, on the interconnection between AI and crypto, Grayscale has identified three areas where AI and crypto intersect: infrastructure, resources for AI and solving AI problems.
Infrastructure Networks: Platforms like Near and Bittensor create decentralised infrastructure for diverse AI applications, offering foundational support and economic incentives for developers.
Resource Providers: Entities such as Render, Akash, and Livepeer supply crucial compute and storage resources, addressing the increasing demands for GPU capabilities and data storage in a decentralised manner.
Problem Solvers: Protocols like Origin Trail and Worldcoin tackle AI-related challenges including misinformation and privacy, developing solutions to enhance content authenticity and user verification in AI ecosystems.
SingularityNET CEO Confirms Merge, Reveals Supercomputer
As mentioned, FET, AGIX and OCEAN have recently merged into ASI, the Artificial Superintelligence Alliance token. However, many exchanges still list the Artificial Superintelligence Alliance under the ticker FET rather than ASI.
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SingularityNET CEO Ben Goertzel said they’re currently working with exchanges to get the ticker updated – which should put to rest any sense of confusion when one checks the AI crypto market.
But Goertzel recently also talked to LiveScience about some break-through stuff SingularityNET is working on, like the supercomputer:
This supercomputer in itself will be a breakthrough in the transition to AGI.
Ben GoertzelThe modular supercomputer will come with some of the most powerful AI hardware available, including AMD Instinct and Genoa processors, Nvidia L40S GPUs, Tenstorrent Wormhole server racks with Nvidia H200 GPUs and Nvidia’s GB200 Blackwell systems.
Goertzel commented on the purpose of such a powerful machine:
The mission of the computing machine we are creating is to ensure a phase transition from learning on big data and subsequent reproduction of contexts from the semantic memory of the neural network to non-imitative machine thinking based on multi-step reasoning algorithms and dynamic world modeling based on cross-domain pattern matching and iterative knowledge distillation.
Ben GoertzelThe first supercomputer is scheduled to come online in September 2024.
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