10 Best AI Cryptocurrencies To Buy in 2023

At the end of May, GPU giant Nvidia reported blockbuster sales numbers that reflected the company’s massive new demand for the chips that power artificial intelligence (AI) applications. The news sent SingularityNET (AGIX), Cortex (CTXC), Measurable Data Token (MDT) and other AI cryptocurrencies soaring in value as investors flocked to the tokens behind some of the most promising blockchain-based AI projects.

See: 3 Things You Must Do When Your Savings Reach $50,000

If you’d like to join the AI crypto rush but you’re not sure where to start, keep reading to learn about the top AI tokens that are well-positioned for success in 2023.

Is There an AI Cryptocurrency?

The ever-growing list of AI-focused cryptocurrencies now includes more than 170 coins, according to CoinMarketCap. The following is an introduction to some of the most promising and popular among them.

What Is the Best AI Coin To Invest in for 2023?

The following is a look at 10 of the hottest AI cryptocurrencies on the market today.

1. Oasis Network (ROSE)

• Price: $0.05448

• Market cap: $312 million

The Oasis Network is a blockchain platform that provides a privacy-preserving layer for web3 dApp smart contracts. Its “ParaTime” function allows it to execute multiple smart contracts while maintaining privacy and security — and ROSE is the platform’s native token.

The network has low gas fees and its modular architecture sets a new standard for security.

2. Render (RNDR)

• Price: $2.42

• Market cap: $887 million

Render is having a stellar 2023 after climbing from about $0.40 on January 1 to $2.69 in early June. That’s not terribly surprising considering that its core competency — distributed GPU rendering — is in Nvidia’s wheelhouse.

Its network is built on the Ethereum blockchain, and developers use it to build high-bandwidth dApps for industries as varied as gaming, health care and finance.

3. Injective Protocol (INJ)

• Price: $7.37

• Market cap: $589 million

Billed as “the fastest layer 1 blockchain” and “the first blockchain to offer auto-executing smart contracts,” Injective Protocol is backed by the likes of Mark Cuban, Pantera and Binance.

Developers use it to build web3 applications for the finance industry, and the interoperable platform can connect with other blockchains while letting users trade assets instantly without gas fees.

4. The Graph (GRT)

• Price: $0.1187

• Market cap: $1 billion

As the world’s only $1 billion AI cryptocurrency, GRT is simply too big to ignore. It’s the Ethereum-based native token of The Graph platform, whose indexing protocol serves as a sort of search engine for blockchain networks.

According to Bitcoinist, GRT experienced several significant rallies in May as major investors — known as whales — went big on long positions.

5. SingularityNET (AGIX)

• Price: $0.2718

• Market cap: $332 million

If The Graph is the biggest name in AI crypto, SingularityNET isn’t far behind — and like GRT, its AGIX token enjoyed impressive gains over the last few weeks.

The network is open-sourcing the building of Artificial General Intelligence (AGI), which Singularity describes as “decentralized human-level intelligence” — and it could be one of the industry’s safer bets. Investors Observer recently issued the coin a low risk assessment.

6. inSure DeFi (SURE)

• Price: $0.004192

• Market cap: $112 million

inSure DeFi is the first metaverse, NFT and DeFi insurance marketplace designed for “protecting investors from scams, stolen funds and drastic devaluations of crypto portfolios.”

In order to insure their holdings, users need only to buy SURE tokens and enable coverage on the inSure DeFi dashboard. Also, its staking rewards offer an impressive 2% per month, or 24% APR.

7. OriginTrail (TRAC)

• Price: $0.2528

• Market cap: $100 million

TRAC is the native coin of OriginTrail and its decentralized knowledge graph, which “organizes all issued assets into a smart global index allowing all assets to be made discoverable by keywords or IDs.”

Users can make their assets verifiable and searchable, and the technology is expanding to industries like pharmaceutical supply chains, global trade and customs, enterprise data, sustainable brands, transportation and food safety compliance.

8. IQ Protocol (IQ)

• Price: $0.004624

• Market cap: $58 million

IQ Protocol gives owners a marketplace to list NFTs for rent and for users to take advantage of their full utility at a fraction of the cost of ownership. Owners can earn rental income and give their assets wider exposure, and users can gain access to tournaments and gaming features they otherwise couldn’t afford.

All transactions are bought and paid for with IQ tokens, which holders can also stake for passive income.

9. Veracity (VRA)

• Price: $0.004804

• Market cap: $50 million

Veracity strives to be the blockchain of choice for esports, digital entertainment and adtech. Its all-in-one wallet takes the risk out of participating in the digital currency economy while facilitating rights management through secure, intelligent verification and the elimination of ad fraud.

Users can also stake their VRA tokens through the VeraWallet.

10. Forta (FORT)

• Price: $0.1296

• Market cap: $32 million

Forta bills itself as the “leading decentralized security and operational monitoring network for wallets, developers, and investors.” It uses machine learning to detect web3 anomalies and threats in real time while monitoring the health of smart contracts.

It’s backed by some of the biggest names in the industry, including Coinbase Ventures and Digital Currency Group.

Before You Invest

The tokens you just read about are among the most popular and promising on the market — but there are more than 100 other blockchain projects that support AI functionality. Before you invest, learn as much as you can about AI tokens by reading tutorials on this rapidly-evolving technology — industry publications like Sensorium offer excellent primers on AI cryptocurrency.

FAQ

• Is AI crypto a good investment?

  • According to the most recent research report from Spherical Insights & Consulting, the worldwide crypto AI market was worth $230.10 million in 2021. By 2030, it's projected to grow to $980.70 million for a compound annual growth rate of 24.06%.

  • All crypto investments come with high risk, but that risk pairs with the potential for high rewards.

• Which crypto is using AI?

  • It's not so much that crypto uses AI. Instead, coins known as AI cryptocurrencies serve as the native tokens for blockchain-based AI projects. They're used for transaction fees, staking and governance on their home platforms.

• What is the best AI cryptocurrency?

  • The best AI cryptocurrency will be unique to each buyer's investment criteria, but the biggest by far is The Graph (GRT). According to CryptoSlate, its $1.16 billion market cap is more than three times that of No. 2 SingularityNET (AGIX) – but while it's the world's only billion-dollar AI cryptocurrency, it's not the most expensive.

  • That would be the No. 43 biggest coin, XMON (XMON), which is currently trading for $1,909.68. It's one of only six AI cryptocurrencies trading for more than $1 and the No. 2 most expensive, VEROX (VRX), is a distant second at $38.67.

Data is accurate as of June 6, 2023, and is subject to change.

This article originally appeared on GOBankingRates.com: 10 Best AI Cryptocurrencies To Buy in 2023