Deniz 
Since the debut of ChatGPT in November 2022, there has been a race to find cryptocurrencies that can fully utilize the capabilities of artificial intelligence. Some of these have already skyrocketed in value over the last year, and the current consensus is that at least a few AI crypto tokens will eventually achieve gains of tenfold, one hundredfold, or perhaps a thousandfold.
The main issue, obviously, is that the signal may be tough to distinguish from the noise. The excitement and intrigue around AI make selecting winners difficult. With that in mind, here are 3 AI crypto currencies that are now outperforming the competition.
Render
Render (CRYPTO: RNDR) is at the top of the list with a $3.6 billion value, making it one of just a few AI crypto tokens with a market capitalization greater than $1 billion. Render is up nearly 100% year to date.
Render is all about “GPU Compute,” or the capacity to supply massive quantities of computational power using graphics processing units (GPUs). Previously, this meant providing computational power to artists, developers, gamers, and web studios, all of which required them to “render” visuals for games, videos, or other entertainment projects. But currently, it refers to computer power for AI research. If you’re starting a new machine learning project, for example, you’ll require a lot of computational resources to train it on a large dataset.
So, the theory here is that Render will grow increasingly valuable as long as it can continue to provide computational resources to power the AI economy. The “GPU Compute” business model is fairly easy to reproduce. And, certainly, Render has an extensive list of prospective crypto competitors.
Fetch.ai
Fetch.ai (CRYPTO: FET) is up a whopping 240% year to date, with a market capitalization of approximately $2 billion. Fetch.ai takes an alternative approach to AI, describing itself as “an open platform for the new AI economy.” In layman’s terms, Fetch.ai is where you go to buy or trade data sets or to hire an AI agent to accomplish a very specialized online activity. It’s essentially a massive marketplace for anything AI-related.
Having access to large amounts of data in a single marketplace will make it simpler to create advanced machine learning models, and the ability to engage AI agents on a per-task basis will boost productivity in our daily lives. According to Fetch.ai, the most popular applications will be in data-intensive industries such as transportation, banking, energy, and tourism.
SingularityNET
In the end, SingularityNET (CRYPTO: AGIX) is up 182% year to date and right now has a market capitalization of $1.2 billion. Parallel to Fetch.ai, SingularityNET has the goal of selling AI goods and services. But SingularityNET is less focused on generative AI and primarily focuses on artificial general intelligence (AGI). And, as a result, SingularityNET aspires to become “the knowledge layer of the internet.”
That seems like a lot of Silicon Valley investment hype, but SingularityNET actually has a professional AI research team that could make it possible. The token’s name refers to the “technological singularity”—the imagined point in time when a single computer becomes smarter than all of humanity together. As the crew behind SingularityNET sees it, all of this vast processing capacity will need to be shared with humanity. And this is where the idea of “the knowledge layer of the internet” begins to make a lot of sense.
The only issue is that this upside potential may take many years to manifest. According to Ray Kurzweil, the AI genius at Alphabet’s Google, who coined the term “technological singularity” almost twenty years ago, this may not occur until 2029.
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