Yahoo Finance 5 Best AI-Crypto Coins for Your Money
Artificial intelligence has been buoying the market at large for several months now — and the crypto ecosystem has been riding the broader AI wave as well.
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Indeed, as of July 2, AI-related tokens, or “cryptocurrencies that power AI-related projects,” as CoinGecko puts it, had a market cap standing at $28.2 billion, according to CoinGecko data.
Of course, not all AI-crypto-related projects are equal, and caution is key, several experts say. This is because aspects of the crypto industry ars rather new. Therefore, caution should be taken when investing in AI-focused tokens, just as one should take caution when making any sort of investment, said Rebecca Liao, CEO of Saga.”That’s why it’s always smart to do research and only allocate funds that are within one’s risk profile — that is, don’t FOMO into any investment,” said Liao.
All this said: it’s going to be an exciting few years ahead for this market of AI and crypto.”
As MarketWatch reported, one area is of particular interest: crypto-AI startups, focusing on decentralized computing.
“For example, some of the startups provide tokens to motivate people to contribute computer power, which is then used in AI,” According to MarketWatch. In turn, “such mechanisms could lower the costs to power AI.”
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AI computing is “the math-intensive process of calculating machine learning algorithms, typically using accelerated systems and software. It can extract fresh insights from massive datasets, learning new skills along the way,” according to a Nvidia blog post.
Andreesen Horowitz noted that the supply of compute “is so constrained, demand outstrips it by a factor of 10(!)”
“So we think it’s fair to say that, right now, access to compute resources — at the lowest total cost — has become a determining factor for the success of AI companies,” it added. Patrick Gruhn, former Europe head of (the now defunct) FTX and founder of Perpetuals.com, noted that while there are many scams for those AI tokens, this area is indeed worth looking at.
“Blockchains can provide the incentive and payment rails for decentralized coordination of under-utilized computing power,” said Gruhn citing a Galaxy Digital’s report, which notes that AI-demanded compute is doubling about every three months.
“Therefore, the currency of an economy that coordinates the use of excess chips from around the world would appreciate in value while helping meet this increasing demand of AI-compute,” he said.
Here are some AI-tokens worth looking at, according to experts.
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Akash
Past year: 576.1% — as of July 2.
Past month: -18.2%.
Gruhn said this is a decentralized cloud compute network that has now added support for Nvidia GPUs.
Matthew Webb, co-founder, Wevr.ai, echoed the sentiment, saying that with this AI coin “you can rent a certain amount of GPUs for a price per hour,” which mimics the standard AWS, Azure, or Google Cloud mode and is very effective.
Render
Past year: 275.9%, as of July 2.
Past month: -24.3%
“This token is another favored AI coin,” said Brian Prince, founder and CEO of TopAITools.com, co-founder and CMO of XCoins.
“What I like about this coin is that it gives artists and creators access to resources to create 3D graphics and animations,” said Prince. “Users who donate their unused computing power to RNDR for artists to buy can earn coins.”
Prince noted that while it suffered a dip recently, he believes in the mission of this coin, making computer-generated art creation more accessible to all and helping small business owners create exciting content.
According to Phillip Shoemaker, executive director of Identity.com, another attractive trait of this token is that it is poised to get a lot bigger.
“And I think it’s still very much undervalued,” he added.
Nosana
Past year: 23437.9%, as of July 2.
Past month: -18.9%
According to Prince, this coin integrates blockchain technology and AI on the Solana network with a decentralized GPU grid.
“What does this mean in plain language? Solana is a blockchain that supports decentralized apps, or dApps,” said Prince. “NOSANA enables users to rent space for AI-based apps. At just $3.25 right now, it also has an affordable point-of-entry for investors, and it has a target price of $5.30 right now if the entire crypto market continues its bull run, according to sources on Twitter/X.”
Wevr.ai’s Webb-who owns some of these coins also noted that while this one is less known than the others and has a smaller market cap, its idea is to assist users looking for GPU compute for their AI workload.
“Serving as a marketplace, I think that’s a very viable idea and is more straightforward than some of the other AI coins,” added Webb.
Bittensor
Past year: 447.4%, as of July 2.
Past month: -32.7%
Bittensor is a project “that is essentially Bitcoin,” said Gruhn. However, instead of mining for specific hash outputs, completing AI-compute submissions earns the right to validate a block.
“Somewhat interesting, but I’m skeptical of the economics,” he added.
Yet Webb said he appreciates Bittensor’s attempt to open-source AI development by allowing developers and researchers to build and transfer knowledge seamlessly.
“Currently, AI is very secretive amongst the big players like OpenAI , Anthropic and Google,” he said.
EMC
Past year: 108.8%, as of July 2.
Past month: -90%.
According to Cody van Tonder and Jason de Klerk, co-founders of Inova Group, this token is one of a few low-cap coins with solid use cases and massive potential for growth.
They added that the use case is appealing as EMC provides a decentralized physical infrastructure network aimed at delivering AI computing power.
“By leveraging a decentralized network, EMC can offer scalable and cost-effective AI computing resources,” they said. “This infrastructure is essential for supporting the growing demands of AI applications.”
And in terms of growth potential, as the demand for AI computing power continues to rise, EMC’s decentralized approach could lead to significant adoption and growth, addressing a critical need in the AI industry, they added.
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