In a year in which AI dominated virtually every economic sector, related cryptocurrency tokens soared in value as investors took positions in a technology that’s being viewed as the next big thing.

The broader crypto market bounced back in November, spurred by expectations that the U.S. Securities and Exchange Commission (SEC) is on the brink of approving a spot Bitcoin exchange-traded fund (ETF).

Bitcoin (BTC) more than doubled in value to $44,000, and the rest of the market followed suit, with AI tokens rising faster than most. After a strong November and December, the total cryptocurrency market capitalization is up about 106% this year to $1.7 trillion.

Here are the 10 best-performing AI tokens of 2023 among projects that trade on major exchanges, as ranked by crypto market tracker and monitor Dropstab. Returns are through Dec. 27.

Also read: South Korean Government Says No Copyright for AI Content

1. Akash Network (AKT)

Akash Network is a decentralized cloud computing platform built on the Cosmos blockchain. Basically, the network leverages peer-to-peer technology to allow people or companies to use someone else’s computer to store data or complete complex calculations. By the end of November, the total GPU compute leased on Akash to power large language models (LLMs) reached 58% utilization, a record for the startup.

Akash is censorship-resistant and reportedly cheaper than traditional cloud providers like AWS, Google Cloud, or Microsoft’s Azure, with a cost savings of up to 80–90%. AKT, the native token of the Akash ecosystem, led the AI token charge, soaring 1,202% year-to-date. As of writing, the token is down 0.97% to $2.27.

2. Render Network (RNDR)

Like Akash, Render is a peer-to-peer graphics processing unit (GPU) marketplace that allows users to contribute computational power to 3D rendering projects and earn RNDR in return. GPUs are the bedrock of the generative AI era. They perform technical calculations faster and with greater energy efficiency than central processing units (CPUs), the chips that power personal computers. It means GPUs are essential to training AI systems like ChatGPT.

Within the Render Network, RNDR serves as a means of exchange between users who need rendering services (known as “creators”) and people or organizations with idle GPUs (known as “node operators”) who perform the rendering work. The token is up 1,167% since the start of 2023. RNDR rose 1.5% to $4.60 as of press time.

3. Fetch AI (FET)

Fetch.ai calls itself an “open network for AI agents.” Built on the Cosmos blockchain, the platform uses artificial intelligence to help people automate everyday tasks like booking a holiday or a flight. Fetch.ai focuses on use cases such as optimizing DeFi trading services, smart energy grids, travel, and even city infrastructure. The company also offers a wallet with an encrypted messaging feature. In 2023, FET, the native token of the Fetch.ai ecosystem, climbed over 718%. The token is currently trading at about $0.68.

4. SingularityNet (AGIX)

SingularityNet is an open-source protocol and collection of smart contracts that create a decentralized marketplace for AI services. It allows people to access artificial intelligence technology and become stakeholders in its development. SingularityNet lets users buy and sell AI services and algorithms, including DeFi-focused products. The AGIX, which is used for transactions within the network, soared 652% this year. The token is trading at $0.32, up 0.35% on the day as of writing.

5. Oraichain Token (ORAI)

Oraichan is an AI-powered oracle and ecosystem for blockchains. As an oracle, the platform typically provides real-time data to smart contracts, a type of computer program used to execute cryptographic transactions. Oraichain works just like Chainlink, which provides data like token prices in DeFi, but with a bias toward AI APIs. ORAI, the native token of the Oraichain network, serves as a utility token that powers and fuels the Oraichain mainnet. The token has gained 321% year-to-date and is currently trading at $6.77.

6. Vaiot (VAI) 

Vaiot is a decentralized AI-personal assistant available on mobile devices via what the company calls “a natural user interface,” like voice conversation. The platform offers a variety of services that include AI-based legal services as well as a service distribution channel for businesses. The VAI token surged 304% this year.

7. OriginTrail (TRAC)

Ethereum-based OriginTrail uses artificial intelligence to track and verify the provenance of goods across supply chains. The platform acts as a bridge between the physical and digital worlds, helping to make supply chains in industries such as art, healthcare, fashion, and education more transparent. The current price of TRAC, the native token of the OriginTrail ecosystem, is about $0.66, up more than 13% in 24 hours, as of writing. Since January, the token has tripled in value, seeing an increase of 298%.

8. The Graph (GRT)

The Graph is a protocol for indexing and querying data stored on blockchains, including web3 projects. It enables developers to query data from 40 networks and to build applications more efficiently. The Graph is considered a critical infrastructure layer. In 2022, the startup raised $50 million and plans to add AI-assisted querying for LLMs. Its native crypto asset, GRT, used for various purposes within the protocol, has been boosted by renewed activity in DeFi and the NFT space. The token rose 246% to $0.91 this year.

9. Artificial Liquid Intelligence (ALI)

Artificial Liquid Intelligence is an AI-based investment platform that utilizes machine learning algorithms for automated trading. ALI is the utility token used in the protocol. It helps to facilitate the exchange of value between participants and allows for the utilization of AI characters and other AI assets on the platform. ALI rose 163% year-to-date and is currently trading at $0.0214.

10. Cortex (CTXC)

Cortex is an open-source, peer-to-peer, decentralized platform based on Ethereum that enables artificial intelligence models to be executed and uploaded over a distributed network. It also creates an incentive mechanism for something called ‘collective collaboration,’ allowing anyone to submit and optimize models in Cortex, while model contributors can also be rewarded. The CTXC token is used for transaction fees and smart contract executions. The token has risen 158% since the start of the year. At the time of press, the token is up over 3% to $0.44.

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• Source: https://metanews.com/10-best-performing-ai-crypto-tokens-of-2023/