In short, AI cryptocurrencies are coins or tokens associated with Artificial Intelligence-based decentralized projects.
AI projects are all the rage at right now following the parabolic rise of ChatGPT, the AI-powered chatbot just about anyone and their dog is using at the moment.
Some believe that AI will actually drive the adoption of crypto. I'm not sure how, though. Maybe because it, unlike us, can actually explain what crypto is and how it works to non-crypto people in simple terms.
I recently made a decision to invest in a couple of Ai cryptos: Fetch.ai and TheGraph.
Founded in 2017 and headquartered in the UK, Fetch.ai is all about peer-to-peer apps based on - or powered by - AI.
What makes it interesting is the company actually focus on projects both on and off blockchain.
Fetch.ai - ticker symbol $FET - runs on the Ethereum network and is currently trading at $0.443.
It feels like it's only a matter of a time before it reaches at least $1. But maybe I'm just wishful thinking.
Max supply: 3.4+ billion
Circulating supply: 24 % of 3.4+ billion tokens.
The Graph is a bit more complex to explain. It's basically like AI-powered protocol to process verified data between blockchains and P2P networks.
The Graph - ticker symbol $GRT - also runs on the Ethereum network (plus an L2 on Arbitrum) and it's currently trading at $0.1746.
Max supply: /
Circulating supply: 8.78+ billion tokens.