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What’s an AI Cryptocurrency? AI cryptocurrencies are tokens that power AI blockchain platforms such as The Graph and SingularityNET. Users spend tokens in order to use the platforms and the benefits of their integrated artificial intelligence. We’ve looked at the 10 biggest AI crypto projects according to their market caps to see how AI is being used within the sector. Render (RNDR) Market cap: INR 326.27 billion Render is about “GPU computing,” the ability to provide enormous amounts of computing power through graphics processing units (GPUs). Previously, this meant computing power for developers, artists, web studios, and gamers, all needing to “render” graphics for their entertainment projects. But now, it means computing power for AI projects.  RNDR is currently trading at INR 846.25 and is down by 26.76% from its peak in March 2024 at INR 1,135. The Graph (GRT) Market cap: INR 221.41 billion The Graph is a protocol for indexing and querying data from blockchains in a similar way that Google indexes and queries data from websites. Indexing blockchain data can be challenging, but The Graph aims to change that by organizing data into smaller “subgraphs”.  Its native, Ethereum-based cryptocurrency, GRT, is worth INR 23.29 as of May 8, 2024, 90.44% down from its February 2021 peak of INR 240.11. SingularityNET (AGIX) Market cap: INR 101.10 billion  SingularityNET is a blockchain platform that allows anyone to build, share and monetise AI services. It has an internal marketplace where users can browse and pay for AI services in the platform’s native cryptocurrency – AGIX. Developers can make money from AI solutions and models without having to fully build apps for end users. Similarly, developers can buy AI solutions and models to use in their applications. AGIX is worth INR 78.69. Back in January 2018, AGIX peaked at INR 155.24 and is down by 49.36% now. Fetch.ai (FET) Market cap:  INR 159.77 billion Fetch.ai is an AI and machine learning platform based on the blockchain. Fetch.ai is all about automating business tasks such as data processing and trading. Its native cryptocurrency, FET, is used to pay for transactions on the network. At the time of writing, FET is valued at INR 188.15, 35.08% down from its September 2021 peak of INR 290.14. Ocean Protocol (Ocean) Market cap: INR 44.53 billion Ocean Protocol is a Ethereum-blockchain-based platform that allows businesses and individuals to exchange and monetise data and data-based services. This might involve making data available to researchers and startups without the data being relinquished by the data holders. OCEAN is currently trading at INR 78.30, 51.46% down from its April 2021 peak of INR 162.12. iExec RLC (RLC) Market cap: INR 18.91 billion iExec is an AI blockchain platform that allows users to monetise their computing power, and to access on-demand cloud computing resources. RLC is the native cryptocurrency of iExec, and is used to pay for using services on the platform. RLC is currently trading at INR 260.61, 80.86% down from an all-time high of INR 1,357.77.90 in October of 2021. Numeraire (NMR) Market cap: INR 14.02 billion Numerai is an AI blockchain network that acts as a hedge fund, using artificial intelligence and machine learning to make investments in stock markets globally. Numeraire (NMR) is the native currency of Numerai, facilitating payments within the network. It’s currently trading at INR 2,236.80, 84.36% down from a peak of INR 14,071.03 in 2017. dKargo (DKA) Market cap: INR 9.29 billion dKargo is a blockchain that uses AI to solve trust issues within the logistics sector. It does this by providing participants with credible data, thanks to the indelible nature of blockchain technology. dKargo’s native toke, DKA, is currently worth around INR 1.97, down from INR 2.54, 95.75% down from its peak of INR 58.96 in the winter of 2021. Phala Network (PHA) Market cap: INR 11.43 billion Phala Network is another AI-augmented blockchain platform concerning cloud computing, but with a focus on privacy. It’s positioned as a decentralized alternative to traditional cloud computing services such as Amazon AWS or Google Cloud. PHA is the network’s native currency, and is used to pay for cloud services within Phala Network. It currently trades at INR 15.88, 86.51% down from a peak of INR 117.71 in May 2021. Covalent (CQT) Market cap: INR 10.90 billion Covalent is a network that aggregates data from various blockchains, including Ethereum, Polygon and Avalanche. Developers can then leverage this multi-chain data to develop apps that solve problems in sectors such as finance and retail. CQT is the native token that powers the network. Its current value stands at INR INR 15.88. At its peak in August 2021, CQT was worth INR 175.24 and is now down by 90.38%. *Market cap figures accurate as of May 8, 2024 from CoinMarketCap