Top Web3 AI Projects

AI
Jun 06, 2024Reading Time: 3 minutes

Two completely different digital technologies are on the rise: AI and blockchain. And now they are merging. How is AI used in Web3, and how does AI benefit from blockchain? How do AI and blockchain projects utilize this interconnection? Here are some inspiring examples.

Graphic image depicting combining Blockchain and AI

AI seems to be taking over the world in a storm. It doesn’t stop at anything, including blockchain. But Web3 enthusiasts ask themselves if that’s a good thing. Can AI replace Web3? Or is it supposed to?

Or maybe AI can be an enhancement. How is AI used in Web3 and are there any promising AI crypto projects already exploring the possibilities?

Many companies experiment with integrating blockchain and AI projects because theoretically both technologies should benefit tremendously from the synergy. For example, blockchain technology could address the security and trust issues Artificial Intelligence is struggling with. Not to mention the need for less centralized AI concentration in the hands of a powerful few.  

The onchain research team examined existing Web3 AI projects to find some answers. The full report will be published on this site later this month. In this article we’ll introduce some of the top Web3 AI projects.

How is AI used in Web3, and how can it benefit blockchain?  

Many ask, can AI replace Web3? But the idea is not to replace Web3; the goal is to complement it by integrating AI technologies into blockchain-based Web3 applications and platforms or the other way around. 

Web3-based businesses are integrating AI with blockchain to simplify and enhance their platforms. Leveraging smart contracts and using AI machine learning algorithms helps enhance blockchain security by analyzing transaction patterns to detect and prevent fraud. AI machine learning can also improve transaction privacy by identifying potential data theft or unauthorized access.

Blockchain technology’s key traits are transparency and immutability. This enhances the reliability and trustworthiness of AI systems. Blockchain’s auditable AI outputs address concerns about bias, privacy, and trust. Additionally, blockchain can create secure, decentralized marketplaces for AI data and models.

The marriage of these two technologies can help streamline a wide array of tasks across different industries. For instance, improving supply chain logistics, enhancing gene sequencing, deploying AI agents for customer service, and performing other data-intensive tasks.

Will blockchain and AI projects shape our future?

Blockchain and AI Synergy: The Benefits

According to Appinvent, the combined market size of AI and blockchain technologies is predicted to exceed $703 million by 2025, which would result in a CAGR of 25.3% from 2020 to 2025.

Graphic graph showing the Blockchain AI market size from 2020 - 2025
Image source: appinvent.com

Our research findings suggest that healthcare is the industry sector that will be impacted most, followed by financial industries. 

Furthermore, a global survey performed by Casper Labs found that around 51% of blockchain-based business leaders divulged that optimizing AI operations is their key priority. This surpassed other areas such as database automation, ensuring security and compliance, and supply chain optimization.

To this end, we have covered some of the key verticals that are running Web3 and AI blockchain-based projects to give you further insight into this exciting new world.

Four examples of Web3 AI projects

Fetch.ai

Fetch.ai network graphic image
Image source: cryptoninjas.net

Fetch.ai prides itself on being the first open network for AI agents. It employs blockchain technology and AI together to enable the decentralization and automation of common tasks such as reserving flights or parking spaces.

Its model solves use cases that are dependent on extensive datasets.

Services provided
Fetch.ai offers a decentralized machine learning platform that harnesses the power of AI to facilitate services and tasks. e.g., asset trading, energy grid optimization, gig economy tasks, etc. Its DeFi application aids users in automating trades based on preset conditions.  
Uniqueness
It uses AI to create and operate a blockchain network and deploys AI agents instead of smart contracts. And offers developers an AI-powered mechanism for dAPP development.  
Purpose
To leverage security, efficiency, and transparency, resulting in an AI-based infrastructure to build and provide smart autonomous services.  
Token
FET is the native AI token that drives its internal economy. Token holders use their FET tokens to access and utilize services within the platform.  

Ocean Protocol

Ocean Protocol network graphic image
Image source: x.com

The Ocean Protocol is a decentralized data exchange protocol running on Ethereum. It facilitates data monetization through tokenization, offering a crypto-on-ramp. And it provides an open market for buying and selling datasets while preserving privacy.

Services provided
Ocean enables its users to trade data assets, and manage data throughout the AI model lifecycle in the Ocean Market. Its primary use case serves as the unit of exchange for data tokens. This enables its data to be purchased, including previously inaccessible data.  
Uniqueness
Its unique data tokens are able to tokenize data into assets. The Ocean Protocol democratizes data access.   
Purpose
To create a decentralized marketplace and provide data monetization.  
Token
Ocean is the native token facilitating dataset transactions, staking, and governance. Its utility and deflationary supply enhance its value within the Ocean ecosystem.

OpSec Network

OpSec network graphic image
Image source: opsec.computer

The OpSec Network is a Layer-1 blockchain network that utilizes AI coupled with a modular architecture to create, maintain, and manage a decentralized cloud-based architecture. Its ecosystem is designed to streamline and optimize cloud operations while prioritizing privacy.

Services provided
The OpSec Network provides a full range of decentralized, diverse cloud storage solutions, including OneSec web hosting, OpSec cloudverse on high-level nodes, light-speed router devices, and GPU hosting. It delivers security, scalability, and transparency for its wide range of service offerings.  
Uniqueness
OpSec offers a unique feature known as RDP that enables users to remotely access and use other servers and apps. It also employs AI-driven consensus mechanisms and onchain model deployment, which are not generally used in other projects.    
Purpose
It provides a scalable, flexible, and cost-effective cloud AI-based computing platform for data and transactions in blockchain applications.  
Token
OpSec is the ERC-20 native token powering its platform and utilities, paving the way for decentralized AI and cloud computing solutions.  

Artificial Liquid Intelligence

Artificial Liquid Intelligence network graphic image
Image source: futurism

Artificial Liquid Intelligence (ALI) uses the AI protocol ecosystem to enable the creation of AI-generated intelligent non-fungible tokens (iNFTs). These are unique AI-powered digital assets.  

Services provided
ALI enables users to create dynamic characters via text descriptions and tokenize them as NFTs on the blockchain. Each character can be designed with specific traits, including appearance and personality. And is fully interoperable with other blockchain-based dApps.  
Uniqueness
Its AI-generated iNFT model offers users a unique product with vast potential. e.g., virtual guides and assistants and future integration into blockchain gaming.  
Purpose
To enable users to create AI-generated content and authenticate iNFTS, avatars, and digital art.  
Token
ALI is the AI-crypto token. It operates within the AI protocol and its associated decentralized applications. It incentivizes, regulates, and rewards users within the AI protocol ecosystem.  

Crypto AI predictions: Tomorrow’s frontier in the AI+blockchain revolution

Undoubtedly, growing interest in AI has significantly impacted cryptocurrencies as a whole and driven substantial growth in AI-based crypto projects. 

AI-driven crypto models address challenges such as GPU scarcity and help users who wish to utilize AI mechanisms without having the technical expertise. As AI and blockchain continue to converge, more crypto AI-based projects will emerge.

As cryptocurrency acts as a digital medium of exchange, facilitating transactions, blockchain offers transparency and immutability. Hence, using blockchain helps overcome AI identity verification and data integrity issues within AI-crypto models. 

Crypto fused with AI is drives entrepreneurs and businesses to explore creative solutions for diverse use cases. Discover what’s happening already and where the potential lies. Read our upcoming in-depth AI x Blockchain report.