AI Race Horses: Investors Make Their Selections
Interest in cryptocurrencies tied to AI blockchain projects has surged, with average daily volumes for the likes of SingularityNET, Fetch.AI and Render topping $1bn in early February, according to data company Kaiko. Among the range of AI-linked blockchain products are blockchain-based marketplaces for AI applications, where developers are paid in cryptocurrency, and machine-generated non-fungible tokens. The CoinDesk Indices Computing Index, which includes AI-linked tokens, has risen 60% this year but investors have been warned about the relative newness of the sector and the need to identify sustainable projects. While investment returns are strong, AI-crypto remains a small niche with a combined market cap of $2.7bn.
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