OCT Opinion: AI & DePin Top 7 promising projects

Why AI & DePin ?

2024 in crypto has seen many different narratives take centre stage but three in particular have been the center of attention of most people –
– RWAs
– AI
– DePin

While RWAs dealing with tokenization of real assets is a totally different domain, the two other narratives are very strongly co-related.

AI & DePin technology has seen a rapid increase in demand as well as value after the release of ChatGPT in late 2022. GPU and processing power has often been termed as the “oil of the future” in several media outlets (or maybe it is just us?).

The largest players in the game, the ones on the cover of this article, NVIDIA, reported a massive $22.1B in revenues in just Q4 of 2023 with the new numbers coming out just today.

And since GPU power is so much in demand for the AI hype, Decentralised Physical Infrastructure projects are coming out left, right and center in the crypto space and the older players are taking a charge of the altcoin push.

So, in this article, we will take a look at our 7 top picks of the AI and DePin crypto industry. Please note that this is not financial advice at all and you should always do your own research.

Bittensor ( $TAO)

The Web3 AI space has its standout success story: $TAO, with an astonishing growth of over 1000% in the past year. Here’s why Bittensor and its cryptocurrency $TAO are making waves:

• Solving a Major Issue: Bittensor addresses the significant concern of extensive user data aggregation by centralized entities like OpenAI.
• Open-Source Innovation: It operates as an open-source protocol that powers a decentralized, blockchain-based machine learning network.
• Leading the Decentralized Neural Network Revolution: Bittensor is recognized as the world’s largest decentralized neural network.
• Knowledge Accumulation Mission: Bittensor aims to create a self-improving network where new models enhance and build upon existing knowledge.
• Continuous Learning: Co-founder Jacob Steeves describes Bittensor as a continuous machine learning library, emphasizing its role in the evolving AI landscape.

Check our review on $TAO above, which fascinatingly was at around ~$50 at the time of the review (7 months ago).

MC: $2.8 B
Price: $422
ATH: $767

Render Network ( $RNDR )

At Our Crypto Talk, we’ve long supported Render, recognizing its immense potential and progress. Forbes’ acknowledgment of Render as a leading project in AI and DePin technology comes as no surprise. Here’s why Render stands out:

• Decentralized Computing Solution: Render Network offers a decentralized solution for high-end GPU-based rendering, utilizing a peer-to-peer network to enhance efficiency and rendering speed.
• Token-Based Payment System: Users pay for rendered work using $RNDR tokens, with Render Network retaining a small portion to fund ongoing development and maintenance.
• Cross-Industry Impact: Render Network simplifies rendering and streaming processes across multiple sectors, including media, mixed reality, gaming, medical, virtual reality, industrial, and augmented reality.
• Decentralization Benefits: The decentralized nature of Render Network boosts scalability, reduces costs, accelerates rendering speeds, enhances security, maximizes GPU efficiency, and provides a rewarding experience for GPU owners.

With a robust team and a founder connected to Nvidia, a leading name in rendering and GPU technology, Render Network is a key player driving innovation in decentralized computing.

MC: $4.2 B
Price: $11
ATH: $13.60

GamerHash ( $GHX )

Gamerhash ($GHX) is a unique web3 gaming application that combines compute power sharing and play-to-earn elements. Here are the key features that set Gamerhash apart:

1. Dual Earning Opportunities: Users can earn $GHX tokens either by sharing their system’s computing power or by completing task-based activities on the platform, such as signing up and connecting their Metamask wallet.
2. Versatile Token Utility: $GHX tokens can be sent to external wallets, held for value appreciation, or used to purchase items in Gamerhash’s marketplace and game store, which offers games, services like Netflix and Steam, and vouchers for offline stores.
3. Strong Metaverse Partnerships: Gamerhash is actively involved in the metaverse, owning three lands in Otherside and partnering with The Sandbox, enhancing its presence and opportunities in virtual worlds.
4. Innovative Mining Algorithms: Gamerhash employs advanced algorithms to optimize cryptocurrency mining, simplifying the process for users by automating the selection of the most profitable cryptocurrencies and miner settings, making mining accessible and efficient.

Gamerhash aims to provide a comprehensive web3 gaming experience, combining compute power sharing with engaging task-based rewards and strong partnerships in the metaverse space.

MC: $100 M
Price: $0.155
ATH: $0.867

ATOR Network ( $ATOR )

Amidst the burgeoning DePIN landscape, Ator Network emerges as a leader, spearheading the quest for decentralized internet privacy and autonomy. Leveraging its decentralized privacy protocol and innovative physical hardware, Ator is redefining internet privacy by offering a secure and anonymous routing ecosystem.

1. Decentralized Internet Privacy: Ator leverages a decentralized privacy protocol and innovative hardware to provide secure and anonymous internet routing.
2. Resilience and Growth: Despite challenges, Ator has rapidly scaled its network, deploying 2,000 nodes on its testnet within three months.
3. Strategic Partnerships: Collaborations with industry leaders like Forte Group and Hot Spotty drive Ator’s growth and vision.
4. Innovative Hardware Solutions: The low-power Ator relay enhances internet anonymity and serves as a personal cryptocurrency mining rig.

MC: $210 M
Price: $2.32
ATH: $3.98

$STORJ

Storj claims themselves to be the biggest cloud innovation since S3 and pride themselves on their distributed cloud storage capabilities. What’s also great on top of it is a much smaller carbon footprint that comes with using Storj’s storage.

1. Consistenly Fast – Storj claims to be much faster than its distributed competitors and splits, distributes and recovers data in parallel.
2. Single Upload – Storj automatically replicates and distributes data amonst the global nodes that it has, saving you money and regional risks.
3. Plug n Play Ready – Storj has S3 compatibility and technical alliances with backup systems, data and media management  platforms.
4. Limitless Scalability – Storj can quickly scale with your business to any region by leveraging a massive, global storage network.

MC: $216 M
Price: $0.56
ATH: $3.91

Gaimin ( $GMRX )

Gaimin ($GMRX) is making waves in the Decentralized Physical Infrastructure Network (DePin) space, particularly in decentralized compute sharing. Here are the key unique selling points of the project:

1. Largest Active User Base: Gaimin boasts the highest number of active monthly users in decentralized compute sharing, with 56,000 users, showcasing its widespread adoption and community support.
2. Passive Income for Gamers: Through gaimin.cloud services, gamers can monetize their idle computational resources, creating a passive income stream to support their gaming expenses.
3. Ownership of In-Game Assets as NFTs: Gaimin empowers gamers with true ownership of in-game assets stored as NFTs, offering real utility, interoperability, and cross-game capabilities.
4. Decentralized Cloud Computing: The gaimin.cloud platform leverages the computational power of users for AI, rendering, and blockchain tasks, providing scalable, cost-effective data processing while fostering innovation and economic growth.

MC: $33 M
Price: $0.0049
ATH: $0.03

$QUBIC

Qubic Network revolutionizes distributed computing and finance with its innovative protocol, versatile applications, and unique operational framework, setting new standards for efficiency and security in decentralized infrastructure.

1. Innovative Protocol: Qubic Network’s quorum-based computations and fusion of Distributed Ledger Technology with Smart Contracts enable frictionless microtransactions, decentralized decision-making, and scalable AI solutions.
2. Versatile Applications: From decentralized computing power and smart contracts to micropayments and AI training, Qubic Network supports a wide range of real-world applications, enhancing industries like supply chain and logistics.
3. Operational Framework: Featuring feeless transactions, robust encryption, and a unique mining model where Computors (Ticklers) earn revenue based on performance, Qubic Network ensures efficiency and security in its operations.
4. Governance and Tokenomics: With a maximum supply of 1000 trillion coins and a weekly coin-burning mechanism, Qubic balances new coin influx with burning. Governance requires a quorum of 451 votes for proposal validation, ensuring decentralized decision-making.

MC: $433 M [Not Verified, acc to CMC]
Price: $0.000004892
ATH: $0.00001244