With the advancement of technology, it is expected that 2024 will witness a close collaboration between artificial intelligence (AI) and blockchain technology (web3), which will drive the vigorous development of the cryptocurrency industry.
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The symbiotic relationship between AI and cryptocurrencies
AI-driven metaverse and web3 games
Strong performance of AI-related tokens in 2023
Future prospects of AI and web3 collaboration
According to Gemini’s “2024 Cryptocurrency Trends Report,” the integration of AI and web3 will improve privacy and data ownership, protect and identify human-generated content, and provide alternative solutions for large-scale cloud development. This technological fusion is expected to elevate cryptocurrencies from niche status to practical tools in everyday life, achieving fair and democratic technological and financial participation.
Brian Rose, CEO of London Real Ventures, predicts a significant increase in AI-generated metaverse and web3 gaming content in 2024. AI will play a crucial role in building these digital frontiers, attracting the next generation of blockchain users and bringing about a transformation.
Analysts point out that AI project tokens have performed well in the bear market since early 2023, indicating confidence and motivation in the integration of AI and blockchain. For example, Fetch.ai’s native cryptocurrency FET has seen a price increase of over 590% in the past year. The performance of these tokens reflects the growing public interest in AI and the continued development of AI-focused blockchain projects.
Although the market capitalization of tokens combining AI and web3 is still smaller than that of major digital assets, their recent performance indicates investors’ expectations for the transformative potential of this integration in the entire industry.
Related Reading:
a16z 2024 Industry Predictions: Blockchain to Enhance AI Security, SNARK, Account Abstraction
Daily Coin Research: Three Blockchain Projects Advancing AI Development
AI + Blockchain: BitMEX Founder Arthur Hayes Explains How to Liberate the Global Capital Market: AI DAO and DEX
AI
Gemini
Web3
Further reading
China Accelerates Web3 Industry, Ministry of Science and Technology Responds to National CPPCC Proposal: Ways in Line with China’s National Conditions
Taipei Blockchain Week: Binance CEO Says Will Continue Investing in Taiwan’s Web3 Ecosystem