The international artificial intelligence market is estimated to grow at a CAGR of 37% between 2023 and 2030. Supported by innovation and mounting investments in AI solutions, the market holds a lot of potential for several sectors, including cryptocurrencies. According to analysts, AI-based crypto projects are ideal for diversifying your portfolios. Currently, InQubeta (QUBE), SingularityNET (AGIX), and Fetch.ai (FET) are among the best altcoins on the market that are leveraging AI with success.
To know more about why these cryptocurrencies are so popular, check out their key features below.
1. InQubeta: The DeFi solution that every startup needs
InQubeta is a leading decentralized platform with a unique use case that will help budding projects kickstart growth in three sectors – AI, startups, and the DeFi ecosystem. The platform caters to the needs of budding companies as well as innovators through a well-developed framework that’s supported by Ethereum’s efficiency and robust security system. Startups will get access to the funding they need for their project, while investors can explore promising projects ahead of their market launch. What binds the system together is the platform’s native cryptocurrency, the QUBE token, which is modeled on the ERC-20 standard.
The QUBE token can be bought on presale currently, but users should know that it has a vesting period of 12 weeks. With a presale funding of $3.2 million so far, InQubeta is well on its way to becoming one of the best new ICOs of 2023.
Analysts have been rooting for the QUBE token because of its anti-inflationary character that tamps down price fluctuations by controlling the token supply. The QUBE token’s supply is capped at 1.5 billion, and it’s divided between different use cases to support the platform’s optimal growth. These use cases include public sales, marketing activities, maintaining liquidity and rewards pools, and legal and development teams, among others. At 65%, the largest share of the tokens is allocated for public sale. The supply is adjusted so that it always stays less than the quantity demanded in the market. By keeping the token supply scarce, the team manages to prevent frequent changes in price and keep its value stable even when the markets are volatile.
Additional tokens in circulation are promptly sent to a burn wallet, where they are destroyed. An example of how this works is InQubeta’s tax system, where buyers and sellers of the QUBE token have to pay a small tax. As the QUBE token is the official medium of exchange on the network, the taxes are also paid in terms of the native token. While the lion’s share of the tax proceeds goes toward maintaining the liquidity and reward pools, and funding marketing activities, a nominal share is also burned to prevent the supply balance from getting disturbed.
InQubeta aims to involve all stakeholders in its growth process through a decentralized autonomous organization (DAO) model for governance. Under the DAO model, community members have the freedom to suggest changes that they feel could improve the protocol’s scope. These changes are put before the community as proposals and are then debated to highlight what they bring to the table and any possible pitfalls. Next, the proposal is put to a vote, and token holders get voting rights. The model gives token holders the power to contribute to the platform’s growth and encourages them to act in its best interests.
The reason analysts feel that you won’t have to worry about what cryptos to buy now once you choose InQubeta, is because of its user-friendly features. The interface is an intuitive one that is easily navigable.
Startups who register with InQubeta, will find the process of securing funding a simple one. The first step involves coming up with something the investor would receive should they decide to invest. A startup’s offer might comprise a reward level or a share in the company’s equity. Next, these offers are tokenized and converted into NFTs that are uploaded on the NFT marketplace. Here, the investors have the opportunity to evaluate an offer and compare it with those made by other startups. If they like an offer, an investor can purchase it using their QUBE tokens. These NFTs can also be split into smaller assets with fractionalisation. So, whether you are a millionaire or an average crypto user, anyone can get a chance to become a startup investor with InQubeta.
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2. SingularityNET: Empowering AI creators with blockchain
Rated as one of the altcoins to watch this year, SingularityNET is a decentralized platform that enables crypto users to create, share, and monetize AI-based services with its marketplace. With the platform, one can browse, test, and buy a wide array of AI services. These services are then bought using the platform’s native token AGIX, the official medium of exchange. SingularityNET’s globally accessible AI marketplace offers developers an outlet to deploy and sell their AI tools while tracking their market performance.
What many people don’t know is that the platform’s team is also instrumental in creating Sophia, often referred to as the world’s ‘most expressive robot’. The platform is working towards its goal of ensuring that Sophia understands human language and pitches in with developing OpenCog – which is an AI framework for achieving the state of “advanced general intelligence”.
Developers are not shying away from calling SingularityNET one of the best cryptocurrencies to buy in today’s market, as it makes publishing and selling AI solutions extremely feasible. The buyers can peruse through AI tools and test them to know if they cater to their needs in the marketplace. A key USP of the platform is the vibrant community of AI specialists that can join, via the Request for AI portal or RFAI. The portal allows SingularityNET users to commission a new AI solution. Developers can collect AGIX tokens by fulfilling such requests.
Over the years, the AGIX token has also evolved along with the changing requirements of crypto users. Following the launch of the SingularityNET Enhancement Proposal in 2020, the token provides its holders with special voting rights and contributes to the platform’s decision-making process. Later in 2020, the SingularityNET team also added a staking feature to the token.
Always in search of new applications for AI, SingularityNET has also collaborated with Hanson Robotics to roll out a joint venture called ‘Awakening Health’, where the two work on products that leverage AI for addressing healthcare challenges. The first product rolled out by the joint venture was a humanoid assistant for the healthcare sector – Grace.
The platform uses the proof-of-stake consensus mechanism for securing its network. The team had recently announced that it was looking to explore a delegated proof-of-stake protocol powered by Cardano.
SingularityNet is also involved in several initiatives where AI enthusiasts can discuss new use cases. In a recent development, the AGIX team announced that it would be hosting Mondo.NYC’s first AI hub on October 10, 2023. The event will feature immersive discussions on how AI can impact music and the industry at large. The event will conclude with a performance by Desdemona Robot, which was created by Hanson Robotics.
3. Fetch.ai: Building AI solutions for the crypto economy
Fetch.ai allows innovators to let their imagination loose to create cutting-edge solutions using AI. The Fetch.ai network has been designed as an open-source AI lab for developing DeFi solutions that cater to the crypto economy using pioneering technologies like machine learning. The FET token is the official cryptocurrency of the network and is used for all transactional purposes. The top altcoin has carved a niche for itself by democratizing access to AI with a permissionless network that can facilitate access to secure data sets for executing tasks that leverage a global network of data.
Over the years, Fetch.ai has found applications across use cases like transportation services, traveling, DeFi trading services, and smart energy grids, among others. What’s more, the FET token has been designed for creating and deploying new DeFi use cases and is a core component of oracles and smart contracts.
Using the platform’s native token, one can deploy digital twins on the network. Developers can also explore machine learning-based technologies for training digital twins by paying for the service with FET tokens. Additionally, they can deploy collective intelligence for their projects.
The platform offers token holders a staking facility where they can validate transactions and earn crypto rewards.
Fetch.ai has ramped up its reach by inviting innovators to build ingenious projects using its tools. The recent integration of the Whisper model with its uAgents library is one such example. With the help of a community developer, Fetch.ai integrated the speech recognition tool into its ecosystem. With the move, the platform’s AI agents can directly understand and transcribe conversations. The team has plans to come up with more upgrades in the future which is why Fetch.ai is one of the top 3 cryptos to buy in 2023.
Conclusion
AI is among the most promising technologies today that is driving impact across sectors. As blockchain innovators come up with new ways to leverage AI in the DeFi ecosystem, the time is right to explore how this technology could boost your crypto portfolio. InQubeta, SingularityNET, and Fetch.ai are among the most innovative projects that you can find, which also have utility-centric models.
However, when it comes to long-term returns, it’s InQubeta that steals a march over the other two because of its unique fundraising model that allows an average crypto user to turn into an entrepreneur and a startup investor without breaking the bank. These investments can be turned into a steady source of income and make a crypto user financially secure. Its recent presale success has also helped it climb higher on analysts’ best cryptocurrency ICO list for the year.
It is advisable for crypto users to research a token before buying it, as the cryptocurrency market is often subject to changes. By doing their due diligence, crypto users can identify potential risks associated with a token and make well-informed decisions.
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