Updating the AI Narrative in Crypto. Part 1

DropsTab
3 min readMar 22, 2024

--

Сan’t ignore the ongoing AI trend in crypto. We highlight the following key points:

  • The market is experiencing strong FOMO around AI projects.
  • AI-related altcoins are already expensive.
  • The NVIDIA AI conference from March 18–21 acts as a catalyst for growth.
  • Near is making a comeback in the AI trend.
  • Binance is listing major narrative stories — Gaming (Pixels), DEX (Aevo). Could an AI project be next on the launchpool?

Near

Veterans remember that Near was once Near.ai before it became a protocol. Now it seems they want to re-enter the trend. It’s very likely that the NVIDIA GTC conference will announce a strategic partnership between the companies or that Near will focus on AI. This could provide Near with new powerful growth drivers (as well as AI-related crypto projects), potentially leading to surprising developments.

NEAR experienced over a 40% increase in the period from March 5th to 8th, reaching a Fully Diluted Valuation (FDV) of $6.27 billion and a Market Capitalization (MCAP) of $5.63 billion.
NEAR experienced over a 40% increase in the period from March 5th to 8th, reaching a Fully Diluted Valuation (FDV) of $6.27 billion and a Market Capitalization (MCAP) of $5.63 billion. However, some of this growth has since retracted. It is still four times below its all-time high (ATH).

Information has emerged that representatives from Ankr will participate in the conference, although they are not yet listed among the speakers. We believe that Ankr won’t be the last of the already-trading projects to adjust their operations to the AI trend.

It’s also expected that new AI projects (most of which may be placeholders) will emerge. It’s definitely worth getting involved while the bubble is inflating. The key is not to stay until the trend declines.

AI Coins

All projects, in one way or another related to artificial intelligence, have shown rapid growth. Therefore, purchasing them is at your own risk and, ideally, during downturns. No one knows how long Nvidia and the AI hype will continue to dominate.

Playing in AI Arena

involves a blend of Play-to-Earn (P2E), AI, and Paradigm concepts

AI Arena has a high potential for listing on Binance. AI Arena is a Play-to-Earn game incorporating artificial intelligence. The goal for each player is to develop and train the most powerful AI.

Investments: $11 million across two rounds with participation from Paradigm, Framework Ventures, and others.

Notable followers on the project’s Twitter include representatives from Fabric Ventures, Galaxy Digital, a16z, and more.

An airdrop is planned, with 4% of the tokens allocated for it. The Token Generation Event (TGE) is scheduled for the end of March or beginning of April. There will be no ICO. The game is challenging to play.

Game instructions can be found at: https://docs.aiarena.io/how-to-play-ai-arena

Take part in the IO.NET project (Solana + AI + DePIN)

io.net — a DePIN protocol on Solana, creating a decentralized network of graphics processing units (GPUs) for machine learning and artificial intelligence tasks.

The project intersects with all the hype narratives of the cycle:

  • The growth of Solana
  • The gaining momentum of DePIN
  • AI

The project raised $30 million at a valuation of $1 billion from Multicoin, Hack VC, Solana Labs, M13, 6th Man Ventures, Delphi Digital, and others. There are rumors that Paradigm and Sequoia Capital invested $124 million.

Notable followers on the project’s Twitter include representatives from Coinbase, Pantera Capital, eGirl Capital, Dragonfly Capital, and more.

The project has activities on Galxe until April 30th, which may seem minor but still contributes to engagement.

The token launch is scheduled for April 28th.

--

--

DropsTab

DropsTab — is a crypto price and portfolio tracking platform. https://dropstab.com/