How are token projects using AI today?

Token Takeaways ✍

✨ Hype surrounding artificial intelligence technology has soared in recent months as projects like ChatGPT have emerged.

✨ Several token projects are working on ways to use blockchain and AI to bring the world into the future.

✨ The AI Revolution Collection highlights some of the most promising AI-focused token projects in the ecosystem today.

AI is one of 2023’s hottest topics. Thanks to the popularity of viral apps like ChatGPT, a generation of Internet users is discovering how artificial intelligence could change everything. For decades, technology enthusiasts have pondered how AI could impact our lives in positive and negative ways. In 2023, it’s indisputable that an AI revolution is beginning. Here, we examine what could lie ahead, and how this monumental shift will impact the token economy. 

The AI landscape today 🤖

While we are yet to see how an AI-powered world could look, recent developments have shown early hints of how it could change our lives. Perhaps the best reference points so far are ChatGPT and GPT-4, two newly released artificial intelligence tools developed by OpenAI. 

This AI-generated artwork sparked controversy after Jason Allen created the image, titled “Théâtre D’opéra Spatial,” with Midjourney and won a prize for the piece at Colorado State Fair (Source: Jason Allen)

Similar to traditional Web2 search engines like Google, ChatGPT answers questions when users enter a query. It became a viral hit after launching in November 2022 thanks to the depth of information it can serve users. OpenAI’s GPT-4 also stunned technology fans due to its advanced capabilities when it was released earlier this month.

Other examples of AI products include Midjourney and DALL-E. These tools create richly detailed images based on a user’s text input. AI art generators have sparked debates about how AI could impact artists in the future. 

Benefits and drawbacks 🤔

Many experts believe that innovation in AI could lead to an era of artificial general intelligence—where AI machines are capable of understanding and carrying out any human task—in the coming decades. This environment has been imagined in popular culture, such as the Oscar-winning movie “Her,” in the past. But it’s come under sharper focus in recent months as new projects have emerged. 

In Spike Jonze’s 2013 movie “Her,” Joaquin Phoenix plays the role of a lonely man called Theodore who falls in love with an AI machine called Samantha. It won Best Original Screenplay at the Oscars in 2014 (Source: Warner Bros. Pictures)

AI could prove to be very useful. But it could also cause problems. Some fear that disruption could lead to mass job losses. More pessimistic views point to a possible global machine takeover in the distant future. While people are right to have concerns, it’s worth remembering that every groundbreaking technology from the aeroplane to the Internet caused mass fear when it launched. While there are drawbacks to new technologies, they can also improve the world in immeasurable ways. 

How token projects are using AI ⛓

Although AI is still in its nascent stages, many token projects are working on ways to use two world-changing technologies—blockchain and AI—to help the world enter the future. Examples of solutions include tokenizing data to establish a data-based economy, developing decentralised cloud solutions to store Internet data, and linking devices on blockchain-based networks to create a more interconnected world. 

One of Botto’s genesis pieces, “Cross Adieu,” minted in November 2021 (Source: Botto)

AI is also impacting the NFT space. Botto, described as “the world’s first decentralised autonomous artist,” is an AI algorithm that produces art based on input from a group of humans in the project’s dedicated DAO. Botto’s early NFT-based works have raised millions of dollars in sales. 

The advent of tokenization and AI represents a convergence of groundbreaking technological innovation in the new digital age. It’s setting the stage for a monumental shift that could prove to be more revolutionary than the launch of the Internet itself. Once developed, artificial intelligence could unlock creativity for a whole generation of digital natives. That’s why we’re so keen to follow the space closely.  

The AI Revolution Collection 💫

The AI Revolution is token.com’s Collection dedicated to projects exploring artificial intelligence in the token space. 

It features Fetch, a blockchain project committed to helping applications communicate autonomously to support the Internet of Things.

Ocean Protocol, a network committed to building “the new data economy,” also features in the Collection.  

The Collection also includes Web3’s query layer, The Graph, and Phala Network, the project hoping to build Web3’s decentralised cloud. 

Finally, the Collection features four further projects dedicated to leveraging artificial intelligence to grow the token economy: the computing power marketplace iExec RLC, the Metaverse rendering project Render, the decentralised marketplace SingularityNET, and Layer 1 network TRON. 

Discover more 👀

Now that you’ve read our feature, you should have some idea of how the advent of AI could transform the token ecosystem over the coming years. However, as it’s still early for AI and tokenization, it’s still unclear what the future could hold. To learn more and stay on top of all things AI in the token space, head to the token.com app to explore our curated Collection today. 

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