A seemingly sentient bitcoin that codes itself in the style of Japanese haikus? Alas not, though you do get billions of dollars of trading in a new class of crypto tokens.
AI-linked blockchain products cover a gamut of services including payments, trading models, machine-generated non-fungible tokens and blockchain-based marketplaces for AI applications where users pay developers in cryptocurrency. While trading volumes retreated in March, they remain above the crypto sector's long-term average, and many tokens have significantly outperformed bitcoin with year-to-date returns ranging from 150 per cent to 780 per cent, said Kaiko analyst Dessislava Aubert.
Some projects may be riding the AI wave without a sustainable plan, with the relative newness of the space meaning winners will likely be few and far between, market players warned. He separates the AI-crypto world into products likely to see near-term adoption as they solve immediate problems, and longer-term bets.
SingularityNET is one of the biggest such marketplaces and has seen the market cap of its token jump from $52 million to over $414 million this year.
Source: Digital Coin News (digitalcoinnews.net)
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