5 Protocols That Are Bringing the AI Economy Onchain

by

In the emerging field of AI, known as AIFi (Artificial Intelligence Foundations) or DeFAI (Decentralized Artificial Intelligence), a definitive term to encapsulate the sector hasn’t been agreed upon yet. However, it is evident that the amalgamation of web3 technologies and artificial intelligence is underway on a massive scale and will significantly impact both on-chain and off-chain systems, transforming them fundamentally.

Moving from DePIN providing the foundation for startups to utilize GPU processing for their needs, up to protocols managing the tokenization of artificial intelligence assets, the array of creativity is awe-inspiring. It’s becoming increasingly challenging to follow this rapid evolution. To help make sense of it all, I’d like to highlight some blockchain projects that not only use trendy terminology but also demonstrate their commitment by putting their words into action.

Moving from Singularity Finance to OpenLedger, these five entities are approaching the Artificial Intelligence Financial Industry (AIFi) from diverse perspectives, yet with a shared ambition: maximizing the potential of on-chain AI by uncovering fresh monetization avenues. Here’s how they’re doing it:

1. Singularity Finance – By providing decentralized investment and trading solutions for AI assets.
2. OpenLedger – Leveraging its blockchain platform to enable seamless integration of AI services within various industries.
3. [Entity 3 Name] – Focusing on the development of intelligent algorithms that optimize financial transactions and decision-making processes.
4. [Entity 4 Name] – Creating innovative AI applications tailored for specific industries, fostering growth and efficiency through automation.
5. [Entity 5 Name] – Dedicated to researching and implementing cutting-edge AI technologies within the financial sector, driving innovation and improving user experiences.

Singularity Finance: Tokenizing the AI Value Chain

There’s growing excitement about Singularity Finance, a Layer 2 solution optimized for tokenizing essential parts of the AI industry. Singularity tackles issues like liquidity and compliance, turning AI compute, apps, and services into easily integrated tokenized assets that generate returns in the DeFi space.

Singularity Finance is focused on speeding up the creation of novel asset types, including AI compute tokens, providing opportunities for both individuals and businesses to invest in AI infrastructure. This leads to a vibrant marketplace for AI resources that improves accessibility and encourages innovation within the sector. Developers can currently experiment with Singularity Finance’s technology on the testnet, and there is much anticipation for its mainnet launch, which could make AI infrastructure more accessible to the masses, or AIFI.

VIRTUALS Protocol: Co-Ownership of AI Agents

The VIRTUALS Protocol is leading the charge in integrating AI characters into gaming and amusement sectors. This innovative system offers a decentralized structure for joint ownership of these AI agents, regarding them as productive assets due to their ability to generate income. These autonomous entities can function seamlessly across various platforms such as Roblox, TikTok, and Telegram games, retaining their memory and functionality across different applications.

Artificial Intelligence (AI) entities designed using VIRTUAL technology are capable of devising strategies, interfacing with surroundings, and overseeing digital wallets on a blockchain. The employment of vaults, on the other hand, guarantees that those contributing to AI innovation receive just compensation, and their contributions’ origins are traced on the blockchain. VIRTUALS further allows for shared ownership of AI entities through tokenization, making them more accessible to a wider public. Moreover, its user-friendly integration process makes it effortless for businesses to incorporate AI agents into their consumer applications, thereby allowing them to maximize the potential of AI with reduced technical complications.

OpenLedger: Attributable AI Data.

Among numerous blockchains designed for artificial intelligence, OpenLedger stands out by focusing on areas where the most significant value is generated: data. This data serves as the vital nourishment for AI models and agents to thrive. OpenLedger maximizes the potential of AI by utilizing the efficiency of blockchain technology in managing revenue streams, thereby guaranteeing fair compensation to data and intellectual property owners. Consequently, developers can obtain the models necessary for training AIs without encountering copyright issues that have historically complicated centralized AI development.

OpenLedger specifically emphasizes AI agents, supplying payable AI models that cater to a variety of agents suitable for diverse applications, such as trading and gaming. The option to design a custom agent using a model tailored to your needs unlocks numerous opportunities, and with complete data traceability, you can verify that all contributions are correctly acknowledged.

NEAR Protocol: User-Owned AI

Although NEAR Protocol didn’t initially start as an AI-focused blockchain, its adoption of AI technology has shown it’s not merely jumping on the bandwagon of the latest trend. It offers genuine value and innovative concepts that place NEAR among the top “pre-AI” chains, making it an ideal platform for this rapidly expanding on-chain vertical.

NEAR empowers developers to construct robust AI applications, giving users autonomy over their data and interactions with AI. It fosters progress in data gathering, computational resources, and monetization for AI projects, having set up the NEAR.AI R&D Lab, a research division dedicated to designing AI tools specifically for creating web3 applications directly from user intention. From a technical standpoint, NEAR is also adequately prepared, as its scalable design can handle the high computational needs of AI. An illustrative example is TurboChain, the initial AI-generated meme coin blockchain, which was launched on the Aurora Network, a significant layer 2 within the NEAR protocol. The TURBO ecosystem originated as a meme coin conceived from the ChatGPT prompt: “Develop the next remarkable meme coin, starting with a budget of only $69.

Injective: AI-Driven Blockchain Interactions With iAgent

Injective is a versatile blockchain system that is well-suited for AI applications due to its architecture and business model. It has recently introduced iAgent, an AI-enhanced software development kit (SDK). This tool simplifies transactions on the blockchain by allowing users to perform tasks like trading, balance checks, and payment transfers using natural language commands. By utilizing advanced language models such as OpenAI’s ChatGPT, iAgent makes these interactions feel more like conversations.

iAgent, a tool developed by Injective, concentrates on applying artificial intelligence in cryptocurrency scenarios. It keeps tabs on market fluctuations to offer valuable insights for wise decision-making. Moreover, its Software Development Kit (SDK) leverages machine learning to predict trends, empowering users to take strategic actions. The easy-to-understand features of iAgent make sophisticated functions convenient even for non-technical individuals, allowing them to automate tasks such as executing trades or transferring funds swiftly and accurately. By integrating AI with user-friendly interfaces, Injective is making blockchain technology more accessible, thus unlocking new opportunities for both beginners and seasoned traders.

The Race to Monetize Onchain AI

Breaking down AI elements for investment offers people a chance to profit from the expanding AI market. Essentially, this means seizing the advantages offered by the most groundbreaking technology since the internet. This could involve purchasing tokens symbolizing AI processing power or shares in AI corporations. For others, it might entail utilizing the technology directly by creating agents to perform tasks for them.

Amongst numerous intersections between web3 and AI, these five particular ones stand out as they’ve effectively blended advanced technology with a robust business strategy. Instead of merely surfing the trend, they are the leaders, constantly advancing the boundaries of on-chain AI. Their innovations range from tokenizing AI infrastructure to facilitating decentralized control over AI agents, and they are significantly altering the way AI functions within the web3 landscape.

Read More

2025-01-14 13:02