Artificial intelligence has attracted the attention of the whole world with its unique traits. The most interesting thing about AI is the way in which it has influenced almost every sector, including web3. The rise of top web3 AI projects is a testament to the fact that artificial intelligence can complement innovation in the domain of web3. AI can serve as an enhancement for web3 projects with both technologies gaining the benefit of improvement.
Blockchain technology can resolve the issues of transparency, security and privacy in artificial intelligence. On the other hand, AI can help in improving automation in web3 projects, thereby enhancing productivity. Let us learn more about the most notable web3 AI projects that you should keep an eye on in 2024.
Impact of Artificial Intelligence on Web3
Artificial intelligence can support the use of advanced algorithms for task automation, streamlining operations and empowering predictive analytics for web3. You can also find answers to queries like ‘How is AI used in web3?’ by evaluating the effect of generative AI on different aspects of web3. Generative AI has not only intervened in the domain of NFTs and metaverse but also in web3 development. The transformative impact of artificial intelligence on web3 manifests in different ways across various areas such as data analysis, risk management and security improvements.
The effectiveness of web3 AI projects revolves around automation, which enables better operational efficiency in smart contract execution and verification of transactions. AI algorithms can also empower predictive modeling to draw predictions on market movements, new trends and user behaviors. The predictions can help in optimization of strategies and smarter decision-making in web3 applications.
Artificial intelligence also offers the advantage of advanced data analytics to obtain valuable insights and interpret notable patterns in web3. With the help of AI, web3 projects can identify and resolve potential risks to create more reliable and secure web3 landscape. Most important of all, artificial intelligence provides the ideal foundation to develop innovative solutions with features that offer better user experience and functionalities in web3 applications.
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Risks of Using Artificial Intelligence in Web3
Artificial intelligence may introduce some risks when you use it with web3. You can use AI crypto projects to the full potential only when you know the setbacks to expect with them. One of the notable concerns in web3 AI projects is intellectual property management. The other prominent risks of using AI in web3 include biases, privacy concerns and possibilities of malicious use.
Businesses and users must follow some essential measures to fight against these risks to make the most of the combination of web3 and AI. For instance, strong copyright protection initiatives, regular monitoring and audits, techniques to safeguard privacy and comprehensive quality control processes can help in combating the risks in web3 AI projects.
You can find different solutions to address each risk individually in web3 AI projects. The important techniques to preserve data privacy include anonymization, federated learning and homomorphic encryption. AI-powered content moderation tools can help in preventing malicious use of the web3-AI combination. Representative datasets can help you reduce bias and content analysis metrics can measure fairness in web3 AI projects. Most important of all, you must pay attention to establishing important standards and best practices to guide the use of AI in web3.
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List of the Most Prominent Web3 AI Projects
The notion of blending AI and web3 presents a lot of promises on paper and in practice. The examples of the best web3 AI projects show the extent to which artificial intelligence has become a part of the web3 landscape. Some web3 AI projects have the potential to spearhead a revolution in different domains of web3.
You can find web3 AI projects that deal with decentralized finance, intelligent trading or prediction markets. The projects combine the capabilities of AI and blockchain to capitalize on the benefits of both technologies. The following web3 AI projects and their distinct functionalities show that a more decentralized, secure and intelligent technology landscape is not far away.
The first addition among notable web3 AI projects is Singularity NET, a decentralized AI service marketplace. It offers a perfect web3 platform for developers to share and collaborate with each other on different projects. Singularity NET also enables monetization of AI algorithms with support for different types of AI technologies. The biggest highlight of Singularity NET is the ability to serve as a bridge between users and developers to encourage innovation in AI.
Ocean Protocol is one of the most popular web3 AI projects running on the Ethereum blockchain. It is a decentralized data exchange platform that empowers AI applications with the functionalities for secure data sharing. The most important feature of Ocean Protocol is the facility of an open market to buy and sell datasets without privacy concerns. Consumers and data providers can collaborate with each other in the marketplace with the native token of the protocol.
Deeper Network blends the power of AI and web3 to offer a more private and secure internet user experience. The platform focuses on decentralized cybersecurity and has come up with an innovative solution, Deeper Connect. The functionalities in Deeper Connect include a decentralized VPN, ad-blocker and firewall to achieve better security and privacy. With the assurance of decentralized access to the internet, Deeper Network can offer a more inclusive and open internet experience.
Another popular addition among web3 AI projects that you should try now is Augur. The decentralized prediction market platform uses AI algorithms to obtain more accurate predictions alongside verifying the outcomes. Users can leverage the platform for creating and participating in markets tailored for real-world events. Augur provides access to various features such as decentralized governance, AI-powered predictions, outcome verification, market creation and user rewards.
The discussions about web3 AI projects will be incomplete without including Fetch.ai in the list. Fetch.ai blends machine learning and blockchain to create autonomous agents that can perform tasks in an open network. The working mechanism of Fetch.ai makes it one of the top web3 AI projects leading from the front to drive innovation. The decentralized AI platform uses the power of artificial intelligence agents to operate blockchain networks rather than using smart contracts. Developers can also find AI-powered features for developing decentralized apps on Fetch.ai.
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Web3 AI projects also aim to provide a new perspective on the utility of cryptocurrencies and Cortex offers a perfect example of the same. Cortex is a crypto project on Ethereum blockchain that aims to empower smart contracts with the capabilities of artificial intelligence. Users can buy AI models to improve their smart contracts and add features for advanced analytics, autonomous decision-making and data processing. Cortex also provides a large marketplace for AI models, thereby helping developers and users explore multiple opportunities for improvement.
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Artificial Liquid Intelligence
The curiosity about answers to questions like “How is AI used in web3?” can lead you to multiple options. Artificial Liquid Intelligence or ALI leverages the ecosystem of AI protocols to generate intelligent NFTs. You can generate dynamic characters as NFTs directly from text descriptions with unique traits. The ALI project will help users create a unique digital asset with massive market potential.
The evolution of web3 AI projects for diverse use cases is evident in examples of projects like Nexo. It is a crypto lending platform that leverages AI and machine learning for evaluating the credit scores of borrowers. Nexo also ensures optimized returns for lenders as they can earn interest on their crypto assets. The most notable features of Nexo include AI-powered credit assessment, instant loan approval, interest earnings, flexible options for repayment and loans backed by crypto collateral.
You can also find revolutionary web3 AI projects like Jarvis Network as the best examples for transforming the utility of web3 projects. Jarvis Network offers the opportunity to use AI in the domain of DeFi to capitalize on optimized investment and trading strategies. The most interesting highlights of Jarvis Network include risk mitigation, automated trading solutions and intelligent asset management. Another notable aspect of Jarvis Network is the assurance of interoperability with other DeFi protocols. It ensures that users can make the most of various financial products.
The OpSec Network is another notable contender among the best web3 AI projects with its ability to use AI and a modular architecture. The ecosystem of OpSec Network has been tailored for optimizing and streamlining operations on the cloud while safeguarding privacy. You can rely on OpSec Network for a flexible, cost-effective and scalable AI-based computing platform on the cloud. The most notable feature of OpSec Network is RDP that enables remote access to other servers and apps.
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Final Thoughts
The dominance of web3 and AI in the modern technology landscape continues growing every day. You must learn about web3 AI projects to understand how the two technologies can work in unison to deliver promising improvements. The list of web3 AI projects reveals that artificial intelligence can help in enhancing diverse areas such as DeFi, crypto trading or lending and borrowing. Learn more about the use cases of artificial intelligence in the domain of web3 right now.
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!
