Grayscale, the world's largest digital asset manager, recently published a report highlighting the growing synergies between artificial intelligence (AI) and cryptocurrencies.
“Recently, Bitcoin has taken center stage with the approval of spot Bitcoin ETFs in the United States, but the outperformance of AI-related crypto assets is a reminder of the expanding applicability and relevance of public blockchain use cases beyond a form of payment,” the report said. It was said.
Grayscale Research suggests that the intersection of AI and crypto could potentially reduce future AI-related societal issues, such as the rise of AI-generated fake documents, data privacy concerns, and concentration of power.
While many tokens have simply been caught up in the “AI hype wave,” crypto protocols associated with the development of AI projects are gaining signs of early adoption, the report notes. Specifically, the four largest AI-related crypto tokens by market cap (TAO, RNDR, AKT, WLD) increased by a significant 522% last year, outperforming the overall cryptocurrency industry (86%) during the same period, according to the report. .
Industry experts have begun discussing similar themes. According to CCI's Sheila Warren, crypto will play “a pivotal role in providing checks and balances on AI.” Similarly, venture capitalist Fred Wilson believes that AI and crypto are “two sides of the same coin” and that “web3 will help us trust AI.”
*This is not investment advice.