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GPU manufacturer Nvidia storms ahead after becoming the world’s most valuable stock. In response, quit-witted investors seek alternative blockchain-AI crossovers that could also boom.
This has caused crypto-AI projects to soar, with CoinMarketCap reporting a 7.94% spike today in the sector’s total market cap.
Some of the outliers are SingularityNet (up 34%) and Worldcoin (up 23%).
But with such gains flooding in, market players are eager to identify the next AI crypto to buy.
Based on our analysis of market cap, use case, track record, and more, we found the top five projects to explore are Scotty the AI, Render, Fetch AI, iExec RLC, and IQ.
With that in mind, let’s take a closer look at each.
Scotty the AI
A loyal blockchain companion, Scotty the AI is a guardian protector of web3, sniffing out any blackhats or malicious actors looking to exploit users.
Blending the memetic undertones of crypto culture with technological innovation, Scotty the AI’s team has shown a masterclass in marketing and product engineering.
Based on a loveable Scottish terrier with jet-black hair and puppy dog eyes, Scotty has found itself prized in the crypto community, with its presale recently surpassing the $500K milestone.
Indeed, investors love Scotty for its memeability, which is evident in its social media posts. However, the project’s use of AI is the true allure.
Its website explains Scotty will analyze “complex algorithms and code with ease, spotting patterns and anomalies that even the most skilled human programmers would miss.”
It also says Scotty can sift through “vast amounts of data in seconds, searching for clues and connections that others can only dream of.”
This makes Scotty the ultimate on-chain sleuth, ensuring blockchain health and security of users’ funds.
According to its website, 30% of Scotty tokens have been allocated to the presale, with the remaining 70% split between staking rewards, ecosystem development, exchange liquidity and marketing.
With its presale ongoing, investors can buy SCOTTY at a discounted price. It is currently available for $0.00555, but the price will rise throughout the campaign, with the next increase in eight days.
Render
Render is a decentralized GPU network offering computational resources to media, AR developers, gaming studios, medical services, and more.
The project currently leads the way in crypto’s AI field, holding the largest market cap at $2.8 billion. However, given the total market cap of all cryptocurrencies is $1.98 trillion, Render still has immense room for growth.
It has enjoyed a strong performance recently, up 19.55% today, 51% this week, and 92% this month.
Render is also up 369% this year, priced at $7.44. Therefore, it is quickly approaching its November 2021 all-time high (ATH) of $8.756.
The project’s use case enables unused computational energy to be used for rendering graphics and training AI, forging a compelling blockchain marketplace for GPU power buyers and sellers.
According to its website, its GPU power is a “fraction of the cost and at orders of magnitude faster when compared to the centralized GPU cloud.”
One of Render’s most notable achievements is its market-leading partnerships with heavyweights brands.
For instance, Render’s Founder, Jules Urbach, owns the cloud rendering company OTOY. This company published a rendering software called OctaneX, available on iPhones and iPads, and Render’s decentralized GPU grid powers the software.
Fetch.ai
Fetch.ai is another leading AI crypto by market cap. The project enables users to “build, deploy, and monetize” AI agents.
AI agents are applications that automatically carry out tasks using AI algorithms.
Fetch.ai has seen notable success recently, pumping 10% today, 67% this week, 93% this month, and 175% this year. It holds a $995 million market cap and a $420 million 24-hour trading volume.
Like Render, Fetch.ai is quickly approaching its ATH. Currently, it is priced at $1.15, just 2.59% from its September 2021 high of $1.19.
According to its website, Fetch.ai empowers users to transform their legacy systems into AI-powered agents without changing existing APIs. This creates a seamless transition between legacy and frontier technology, helping companies migrate without friction or technical complexities.
The project also enables users to integrate third-party apps like Skyscanner, Discord, OpenAI, and Slack.
Leveraging AI on top of these platforms skyrockets developers’ capabilities, enabling them to innovative solutions that bolster user experiences.
Besides the ever-growing thirst for AI investments, the Fetch.ai team’s relentless productivity is another growth-driving factor. Two days ago, it announced the public launch of DeltaV, a search-based AI chat interface that automatically handles end-to-end tasks from text-based prompts.
iExec RLC
iExec is a privacy-focused AI project gathering significant pace. Its website leads with “The web3 marketplace.” Its cornerstone focuses are empowering blockchain builders and trading computing assets while preserving ownership and privacy.
It holds a lower valuation than Render or Fetch.ai, currently at a $308 million market cap. Meanwhile, it boasts a substantial trading volume of $182 million, illustrating significant investor interest.
Currently, iExec RLC is up 8.55% today, 78% this week, 106% this month and 114% this year. However, it remains 73% from its May 2021 ATH of $16.11, presenting significant upside potential.
Another benefit of this project is that it is already listed on top exchanges like Coinbase and Binance. This attests to its legitimacy while making it highly accessible to the masses as the AI narrative advances.
iExec RLC is running a $1 million bounty program for developers to build using its privacy-focused tool suite. One of its tools is a no-code oracle builder, helping developers seamlessly transfer off-chain data on-chain.
Meanwhile, iExec RLC enables developers to “sidestep scalability” with off-chain computations using its software development kit.
Its GPU marketplace is another prominent feature. This will connect buyers and sellers of computational power, similarly to Render. Combined with its developer tool suite, this creates a circular economy, helping usher in widespread adoption and innovation.
IQ
IQ is another mid-cap AI project that is seeing massive success. Interestingly, IQ offers a novel use case, self-proclaimed as the “Largest blockchain & crypto encyclopedia.”
The project is a crypto-education platform, but harnesses cutting-edge AI for an improved user experience. Users can browse deep-dives into crypto assets and related topics. It also offers a product called IQ GPT, a crypto-focused chat bot that is trained on real-time data.
IQ has fared a top performer today, up 25%. Meanwhile, it is up 45% this week but just 43% this month and 3.91% this year. It is also down 89% from its July 2018 ATH of $0.07.
IQ currently holds a $133 million market cap and a $186 million 24-hour trading volume, with listings on exchanges like Binance and OKX.
BrainDAO, IQ’s native DAO, and treasury, also introduced IQ GPT for Telegram and Discord last year, providing ubiquitous accessibility to the chatbot.
The IQ token is used for utility, staking, and governance. It provides holders access to new products and enables them to make critical decisions on the ecosystem’s future trajectory.
One of IQ GPT’s perks is the efficiency with which users can gather data. As per its website, identifying specific information from long-form articles takes lots of time, but IQ GPT will extract it in seconds.
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