These 3 AI Crypto Coins are Bullish in 2023 – Render, Fetch.ai, yPredict
The influence of artificial intelligence (AI) on various sectors is no longer news, and the crypto industry is no exception. In the crypto market, the impact of AI is becoming increasingly evident. AI-centric projects are creating a ripple effect that is influencing the value of their associated cryptocurrencies. Among the multitude of AI-driven initiatives in the crypto space, projects like Render, Fetch.ai, and yPredict are making their presence felt.
As the broader crypto market faces challenges, with Bitcoin struggling to maintain its price above the $25,500 mark, these AI crypto projects offer a glimmer of stability. They present use-cases that extend beyond mere speculation, integrating technological advances into functional, real-world applications.
In a market where many alt coins are finding it hard to sustain their price, these AI-focused tokens offer a promising avenue for future growth. Their impact is not just limited to the crypto market; they have the potential to drive advancements across various sectors, from entertainment to finance and beyond.
The Rendering Revolution: What Makes Render a Noteworthy AI Crypto Project
Render focuses on providing solutions for GPU-based rendering. The project makes the complicated process of converting 2D or 3D computer models into lifelike images more accessible. By allowing people to use their idle GPUs to complete rendering tasks, the platform democratizes the cloud rendering process.
The project was founded by Jules Urbach, who is also known for founding OTOY, a company specializing in cloud rendering services. Another key player in the project is Ari Emmanuel, who currently serves as the co-founder and co-CEO.
According to their distribution plan, 25% of the native Render Token (RNDR) is open to the public, 10% is being kept in reserve, and the remaining 65% is set aside for network operations. The RNDR token plays a central role in the platform's economy, as it is used to pay for rendering and streaming services.
A recent blog post by the Render team outlined the primary use cases of the RNDR token. These include protecting rights, monetizing content, and empowering individual creators. Users who offer rendering services on the platform can earn RNDR tokens, which can be bought, sold, and held as an investment on various crypto exchanges.
The Automation Advantage: Fetch.ai's Role in the AI Crypto Sector
Fetch.ai is another player in the AI crypto arena, simplifying daily tasks through AI and blockchain. The platform uses something called a 'digital twin,' a virtual bot that represents you and can perform tasks like comparing flight prices across different websites.
These digital twins can also learn and share experiences with each other. For example, if you want to plan a vacation similar to one your friend enjoyed, the digital twins can negotiate the details, sparing you the need for exhaustive research.
Fetch.ai is not just for personal tasks; it's also finding a role in decentralized finance (DeFi). Within the crypto market, it can identify tokens that are cheaper on one exchange than another and execute purchases on your behalf.
The native token of the platform, FET, serves multiple purposes. It fuels the internal economy of the platform and is used to access various services. Staking FET tokens not only earns interest but also grants users a say in the platform's future. Requiring FET tokens to deploy a digital twin acts as a safeguard against spam and malicious bots.
yPredict: A New Chapter in AI-Driven Crypto Analysis
While yPredict is still in its presale stage, it has already attracted a significant amount of interest. The platform has raised over $3.81 million of its targeted $4.6 million, with each YPRED token priced at $0.1. Built on the Polygon Matic chain, yPredict will work with YPRED tokens that have a multitude of uses within the platform.
One of the main features of yPredict will be its prediction marketplace. Here, financial data scientists can offer their predictive models as a subscription service. Traders can then subscribe to these models using YPRED tokens, gaining access to valuable trading signals and forecasts. The setup allows data scientists to monetize their predictive models without having to manage trading operations.
In addition to the prediction marketplace, YPRED tokens will be used for other functions, like analyzing various cryptocurrencies and gaining access to data-driven insights. Token holders can also stake their tokens in high-yield pools, which derive their liquidity from 10% of each new user's YPRED deposit.
Understanding yPredict's tokenomics will be important for those who plan to use the platform. The total supply of YPRED tokens is set at 100 million, with 80 million allocated for the presale. The remaining tokens are reserved for liquidity and development purposes.
Beyond their utility in the marketplace, YPRED tokens will allow holders to participate in voting processes, contributing to the decision-making within the yPredict ecosystem.
yPredict plans to offer more than just price predictions. The platform will also feature a range of analytical tools, including pattern recognition, sentiment analysis, and transaction analysis. These tools will automatically detect chart patterns, analyze news and social media content related to the asset under consideration, and generate useful data-driven insights.
Adding to its trading focus, yPredict is also developing an AI-powered backlink estimator. The tool is trained on over 100 million links and will predict the backlink profile needed for a site to rank for a specific keyword.
Initially launched as a free preview, the feature received over 5,000 requests within the first 24 hours. It's now available to the public at a price of $99 per query, according to a recent tweet from yPredict's official account.
In summary, as the crypto market faces uncertainty, AI-driven projects like Render, Fetch.ai, and the soon-to-be-launched yPredict offer a glimpse of stability and practical utility. These platforms are not just about speculation; they work to solve real-world problems, extending their influence beyond the volatile crypto market.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.