Author:
Arjun Chand
Translated by: Deep Tide TechFlow
In the past year, AI tokens have dominated the market, with many viewing it as the convergence period of AI and cryptocurrency. However, in recent months, AI tokens have shown a downward trend, with many tokens dropping 25%-50% from their local highs. Despite this, it may not necessarily be a cause for concern. During a crypto bull market, pullbacks are a normal occurrence and can be beneficial for long-term performance. This article delves into the future development of top AI and crypto projects and the potential catalysts that could reignite the market.
Render x Apple
At this year’s WWDC conference, Apple introduced Apple Intelligence, its new AI feature suite for all devices. It’s no surprise that every major tech company is entering the AI space. What’s truly remarkable is OctaneX showcased on the latest iPad Pro, a 3D design software supported by Render Network.
OctaneX utilizes Render Network’s decentralized GPU, granting millions of Apple users unprecedented rendering capabilities. Imagine creating Hollywood-level CGI on an iPad – this is the goal Render and Apple are working towards.
Integration with Apple marks a significant victory for Render, validating its technology and vision. Essentially, Apple is saying, “Hey, this Render Network thing is legit!” This could attract a large number of developers and creators to the platform, further driving the network’s growth.
With new Apple software set to launch later this year, this could serve as a crucial catalyst for Render, unlocking a vast new user base for the network. Additionally, more users utilizing OctaneX means an increased demand for Render services, thus boosting the value of the RNDR token. We’ve already seen a price increase post-news release, hinting at future trends, so keep a close eye on Render.
Subnet Tokens on Bittensor
One of the main criticisms of Bittensor is that only a small number of validators currently decide how to distribute TAO rewards between subnets. The BIT 1 proposal, also known as Dynamic TAO, addresses this issue.
Dynamic TAO is one of the most anticipated proposals in Bittensor’s history, second only to the launch of subnets last year. It brings fundamental changes to the network:
Empowering TAO holders: Currently, only a few validators decide how to allocate TAO rewards to subnets, which may be biased and inefficient. Dynamic TAO changes this by allowing all TAO holders to participate in reward distribution. Imagine a network where everyone can influence the allocation of AI resources – this is the future Bittensor is striving to build.
Dynamic market for subnets: With Dynamic TAO, each subnet will have its own token, with its value determined in an open market. This incentivizes subnets to perform well and provide valuable AI services. No more useless subnets – only the most effective subnets can thrive. This also adds a speculative element to the Bittensor ecosystem, gamifying the participation of TAO holders in the network and injecting market forces into the growth of each subnet.
Dynamic TAO is currently in testing and expected to be fully rolled out soon. Introducing encrypted incentives at the subnet level could be a significant catalyst for Bittensor. It’s a crucial step forward for Bittensor, giving token holders and subnets a real voice in shaping the future of decentralized AI.
User-Owned AI on NEAR
Forget the meme of the NVIDIA founder touching the NEAR founder’s arm, NEAR recently announced the next phase of its roadmap: making NEAR a home for user-owned AI.
This isn’t just hype. The NEAR Foundation is taking tangible action. They’re establishing a dedicated research lab (NEAR.AI) and attracting top AI talent to develop AI and crypto applications. They’ve also set up an incubator and investment department focused on AI projects.
They’re building infrastructure for developers to create user-driven AI applications, such as data collection tools, creator rewards, and monetization tools, while incorporating crypto values into AI.
NEAR’s focus on “user-owned AI” could be a significant catalyst for the project’s future development. The team believes that their existing user base, developer ecosystem, and funding can make them a leader in user-owned AI.
Conclusion
While recent market adjustments may be discouraging for some, the AI and crypto space remains vibrant. Look at these three projects: Render, Bittensor, and NEAR. Each project is addressing unique challenges, and as they progress with their roadmaps, the future becomes even more exciting.
And these are just a few examples. At this intersection, an interesting project ecosystem is emerging, all developing valuable products.
Furthermore, some external factors to consider: OpenAI could have breakthroughs at any moment; Nvidia’s revenue is skyrocketing. Whenever a major player takes action in the AI field, it triggers a ripple effect throughout the industry.
The question isn’t whether AI and crypto will become important, but how significant they will become. While no one can predict the future with certainty, one thing is sure: the future will be incredibly interesting.
