AIxCrypto Weekly Report: "Rune Concept" sucks funds from the chain, "AI Tugou" retreats sharply

24-04-12 17:12
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At the just-concluded Hong Kong Web3 Carnival, AI was one of the most concerned narratives for all participants. However, in terms of capital flows and token gains, the AI sector performed weakly this week.


In contrast, the Bitcoin ecosystem is in full swing. In addition to the continued rise in Bitcoin NFTs, the Bitcoin cross-chain project RunesBridge, which connects the Runes protocol to the EVM network, has risen more than 30 times in just three days since its launch on April 9.


Back to the AI sector, the biggest news this week was Bittensor (TAO) listing on Binance. This news pushed TAO to a record high of $747, but after a brief excitement, TAO fell back to around $600, and other mainstream AI concept coins did not fluctuate significantly.


However, the combination of AI x Crypto has just begun. Whether it is looking for Alpha projects with long-term development potential, or relying on speed and information gap to rush into the "dog plate", or following good leading projects to obtain stable returns, there will be good returns on investment.


BlockBeats sorted out the dynamics worth paying attention to in the field of AIxCrypto this week, as follows.


Mainstream concept coins continue to be weak, AI MEME retreats sharply


It seems that the short-term AI hype is about to come to an end. This week, the mainstream AI concept coins did not have a large increase. As of the time of writing, WLD fell 34.8% month-on-month, RNDR fell 20% month-on-month, and OLAS fell 29.4% month-on-month.


After appearing two months ago, the AI concept coins $GPU, $DEAI, $DSYNC, $BLENDR, $BYTE, and $YAI, which dominated the Dexscreener hot list for several weeks and had a monthly increase of more than ten times, all experienced a sharp retracement this week, with weekly declines of more than 30%.


These projects are still updating their dynamics. For projects that have only been in operation for a few months, this retracement is also a test of the quality of the projects. Yesterday, Zero1 Labs ($DEAI) announced a partnership with NetMind.AI ($NMT). The two parties will further develop the artificial intelligence ecosystem, and NetMind.AI will expand its resources and product suite to Zero1 and all other projects incubated under ZCP. NetMind.AI also launched a model reasoning platform yesterday, launching 12 open source models in areas ranging from image generation, text to image conversion, and speech synthesis.


The concept of mining machines takes over the heat of AI computing power, and the new project has increased 40 times in a week


At the beginning of the month, the HashAI token based on AI to optimize mining efficiency was officially launched, and it took only one day to achieve a 0% increase, with a 24-hour trading volume of more than 35 million US dollars. After the market value exceeded 300 million US dollars, HashAI's growth momentum gradually declined, but the market's interest in the concept of AI+mining has not diminished.


On April 5, a mining machine project token CMINER called ChainMiner was officially launched, and the increase exceeded 10 times after 24 hours. In fact, when browsing the official website of the ChainMiner project, the keyword "AI" cannot be found. According to reports, ChainMiner is characterized by a set of optimization algorithms to guide mining strategies compared to other mining projects, and token holders can obtain mining profits.


But in the community's view, with HashAI, which is also a mining project and has a market value of over $300 million, ChainMiner, which has been online for less than a week, has a lot more room for market value growth. After that, many Alpha KOLs promoted CMINER as the "next HASHAI", and CMINER continued to rise. As of the time of writing, it has risen 40-50 times compared to the beginning of its launch.



AI data market Masa Network tokens opened unfavorably


On April 11, the decentralized data market developer Masa Network mainnet was launched, and its MASA tokens were also issued on Ethereum, BNB Chain and Masa network (dedicated Avalanche subnet).


It is understood that Masa is committed to building a personal data market that can be used by AI, aiming to give users the ability to control their own data, and users can earn benefits by contributing data. Its products include Masa Growth and Masa Analytics. Masa Growth allows users to complete tasks to get rewards, while Masa Analytics helps companies and developers analyze user behavior data.


It is understood that the public offering price of MASA on CoinList is 0.079 USDT. After the opening yesterday, MASA reached a high of 7.97 US dollars, but soon fell back to 0.39 US dollars.



AI projects are still making profits from new listings, with Rivus DAO’s highest increase exceeding 100%


Although the AI sector’s money-making effect has weakened, AI projects are still making good profits from new listings. Following DEAI, BlockBeats once mentioned Rivus DAO in “AIxCrypto Weekly Report: Chain Game GAMIN rose more than 30 times before the market opened; “AI MEME Leader” $GPU hit a new high”, providing Bittensor ecosystem users with lending and wTAO staking services with an APR of 19.58%.


This week, Rivus DAO ended LBP with a final price of $0.057. After RIVUS went online, it hovered around $0.08, and yesterday, affected by TAO's listing on Binance, it broke through $0.12, with the highest return exceeding 100%.



TAO went online on Binance, and the "Bittensor Ecosystem Dog" came back to life


On April 11, Binance announced the launch of Bittensor (TAO). Affected by this news, TAO, which had been hovering below $600 for several days, rose nearly 20% in one hour, breaking through $700 in the evening of the same day, and reaching a high of $747, a record high.


After listing on Binance, TAO opened at a substantial premium compared to other platforms, reaching $1,249.



Driven by the news of the listing and the increase in TAO tokens, a number of tokens related to the "TAO ecosystem" have seen significant increases in a short period of time. Rivus DAO, which had just finished LBP, gained more than 40% in 1 hour, DeFi lending agreement Sturdy Finance rose 22% in a short period of time, nearly "zero" project TBANK rose 45% in a short period of time, and Launchpad project TPAD rose 77% in a short period of time. However, after a short period of stimulation, these projects fell back to the position before the news of TAO listing on Binance a few hours later.


However, the token price is only one aspect of the project development. Although the increase has been greatly narrowed, listing on Binance is of great significance to the future development of Bittensor, and the liquidity solution project around TAO will continue to attract market attention in the future.


AI+ game project Virtual token increased by 50% in a week


This week, the token of the AI project Virtual Protocol on Base increased by 53% in the past week. Virtual Protocol focuses on creating artificial intelligence characters suitable for various virtual worlds and has reached a cooperation with the virtual companion game AI Waifu.


In addition, Virtual Protocol also features a mechanism to encourage community members to participate in the project as contributors and validators. Users can improve and create new models by providing and reviewing data, and receive rewards for this. This mechanism is similar to Bittensor, and it also brings higher expectations to Virtual.


Unlike other projects, Virtual's positioning is very differentiated. In the current AIxGamefi project, many games use AI-enabled NPCs as highlights. Virtual chooses to become a "water seller", collects fees after cooperating with games, and distributes income according to incentive mechanisms.



ORA Protocol, which focuses on AI models, holds its second IMO


On April 11, the AI project ORA Protocol announced that it will hold an IMO in the afternoon of April 12, Pacific Time. IMO (Initial Model Offering) is an innovative asset issuance method proposed by the ORA team, which allows AI models to be issued and traded on the blockchain in the form of tokenization.


The model for this IMO is the OpenLM open source model launched by ORA, which is an execution language modeling (LM) repository designed to promote the research of medium-sized LM. Previously, ORA has conducted an IMO for the on-chain AI oracle model Onchain AI Oracle (OAO). Users can participate in this IMO by earning points from the ORA points program by interacting with the ORA protocol.



ORA Protocol was launched by ZK oracle network HyperOracle. Its core concept is to make the construction and execution process of AI models verifiable on the chain, thereby solving the shortcomings of traditional AI projects in terms of revenue model and market attention.


Compared with traditional AI projects, ORA uses OPML (Optimistic Machine Learning) technology to verify the operation results of the model without disclosing the details of the AI model, protecting the intellectual property and trade secrets of AI companies. At the same time, through the verifiable AI model on the chain, ORA can ensure that every call to the model can be fairly rewarded to the relevant parties, which provides a strong incentive mechanism for the application and development of AI technology.


AIxCrypto is a hot topic in the encryption field in 2024 that cannot be ignored. BlockBeats will continue to pay attention and update.


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