This will be a quick summary about the project aiRight ($AIRI) on what they are building and planning for the future.
Let’s get right into it:
Table of Contents:
- What is $AIRI
- The Purpose
- $AIRI Tokennomics
What is $AIRI?
In short $AIRI is a project focused around the idea of AI #NFT verification! To avoid being cheated on websites like @opensea, you can confirm the validity of the #NFT on chain using $AIRI, an AI-based #NFT Authenticity Verifying Service.
As you can already predict from the previous explanation of $AIRI, the problem the project solves is ‘fake’ NFTs. A reoccurring case in the NFT space is that people (scammers) tend to download an NFTs an remint these on various platforms and sell them as the ‘original’ project for a lower price.
$AIRI has developed an AI to identify possible copies and help to differentiate between the original and the copy.
Additionally to NFT remints, the space is flooded with wash trading. Wash trading is the practice of carrying out a transaction in which the seller is present on both sides of the deal (or the trader is the buyer and seller himself) in order to present an inaccurate impression of the worth of a NFT holding. While $AIRI offers the verification of NFTs, the project also provides an NFT audit. This is a service to judge and evaluate the credit score of any media assets before being minted. The process involves an assessment where the AI Oracle from Oraichain generates a report which is attached to NFT during mint. This allows every user to access the report when considering a possible investment into an NFT project. The report provides a transaction history and a knowledge graph which will automatically highlight any abnormal behaviours with the use of AI. Therefore the audit allows marketplaces to fight fraud and wash trading.
Additionally they have successfully patented their creation internationally and within the USA.
WO2022200834 — SYSTEM AND METHOD FOR THE CREATION AND THE EXCHANGE OF A COPYRIGHT FOR EACH AI-GENERATED MULTIMEDIA VIA BLOCKCHAIN (https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2022200834&_cid=P12-LBD67M-45114-1)
Other features besides the NFT verification and the audit include:
- Royalty Protocol
- NFT Staking
- NFT ownership verification for Discord membership
$AIRI token utilities:
- Payment token for all services
- Lp providing
- The project also announced the use for in-game tokens within strategic GameFi partners
As highlighted in the picture above, $AIRI also has a burn mechanism which uses 50% of the revenue from the fee pool on https://airight.io/ to burn the token. This ensures deflation and and the health of the $AIRI token.
Market cap: $1,536,397
Circulating supply: 283,765,455
Total supply: 1,860,000,000