NFT News by Thebittimes.Com

One cryptocurrency sector that has been gaining significant traction in recent times is the AI and big data space. According to a recent tweet by Santiment, a leading cryptocurrency analytics platform, the top 100 AI and big data projects have collectively grown their market caps by an impressive 22% in the past week. As the AI and big data sectors continue to boom, three projects have emerged as front-runners, seeing major growth and attracting the attention of investors and traders alike. These projects are Openfabric AI (OFN), Aleph.im (ALEPH), and Akash Network (AKT). Also read: Ripple (XRP) Forecasted To Hit $1.9 If This Happens The top 100 #AI and #BigData projects have collectively grown their market caps by +22% in the past week. The sector continues to boom with front-runners like @openfabricai (+78%), @aleph_im (+64%), and @akashnet_ (+49%) seeing major growth. It is always advisable to do… pic.twitter.com/G7fjFl8LuV — Santiment (@santimentfeed) Apr...

Key takeaways Algotech’s decentralized algorithmic trading platform is set to appeal to the fast-paced world of cryptocurrency trading. The project is still in presale and has raised more than $3.2 million so far. Real-world asset (RWA) tokenization, Artificial Intelligence (AI), GameFi, Layer-2 SocialFi. These are some of the leading narratives in the cryptocurrency space at the moment. The last few months have seen several AI tokens record excellent gains. However, there hasn’t been much focus on AI in the cryptocurrency trading space. Algotech is embarking on this mission and intends to make a difference in the world of cryptocurrency trading with its technology. What is Algotech? Before we dig deeper into this project, we need to know what Algotech is.  Algotech is a cutting-edge decentralized algorithmic trading platform designed specifically for the fast-paced world of cryptocurrency trading. The platform has advanced algorithms...

Bittensor (TAO) has emerged as the top gainer among the top 100 cryptocurrencies as the platform’s development activity hikes.  TAO is up by 18% in the past 24 hours and is trading at $260 at the time of writing. The asset’s market cap surged to $1.59 billion, making it the 50th-largest crypto in the market. Bittensor’s daily trading volume, however, is much lower compared to its market value — currently hovering around the $11 million mark.  TAO price, RSI, social volume and development activity – Jan. 17 | Source: Santiment Last month, TAO reached an all-time high of $392 as the leading five AI tokens recorded massive rallies in 2023. You might also like: Cantor Fitzgerald CEO confirms Tether’s legitimate $86b assets According to data provided by Santiment, TAO’s development activity increased by 37% over the past day. The surge comes for the first time since Dec. 22, 2023, when the asset was trading at around $300. Data shows that Bittensor’s...

Startup for passive income, Grass, has raised 3.5 million in seed funding to become a decentralized oracle for artificial intelligence (AI). Wynd Network, the developers behind the Grass project, have announced the successful closure of a $3.5 million seed funding round co-led by Polychain Capital and Tribe Capital. In a blog post on Dec. 19, Wynd Network said the latest infusion of capital brought the firm’s total funding to $4.5 million, following a pre-seed round led by No Limit Holdings. The founders of Grass believe that a decentralized model offers significant advantages for web scraping. Describing Grass as a decentralized oracle for AI, the founders emphasize that the platform will generate datasets traceable to their origin, enabling fair compensation for contributors to the network. “As a decentralized oracle for AI, Grass will produce datasets that can be traced back to their origin, making it possible to compensate people fairly for their contribution to...

io.net has built a decentralized physical infrastructure network that will source GPU computing power for AI and machine learning. A project that started out as an institutional-grade quantitative trading system for cryptocurrencies and stocks has transitioned to become a decentralized network sourcing GPU computing power to serve increasing demand for AI and machine learning services. Io.net has developed a test network that sources GPU computing power from a variety of data centers, cryptocurrency miners and decentralized storage providers. Aggregating GPU computational power is touted to drastically reduce the cost of renting these sources that are becoming increasingly expensive as AI and machine learning advances. Speaking exclusively to Cointelegraph, CEO and co-founder Ahmad Shadid unpacks details of the network that aims to provide a decentralized platform for renting computing power at a fraction of the cost of centralized alternatives that currently exist. Related: Fut...

ToolsGPT marries ByBit’s market data with ChatGPT’s AI to generate technical analysis, price data and trading metrics. Cryptocurrency exchange ByBit will look to leverage artificial intelligence (AI) to provide a host of new trading tools and metrics for users through an integration with ChatGPT. OpenAI’s highly acclaimed large language model chatbot has been used by a myriad of industries to provide innovative solutions and services. The cryptocurrency trading space could stand to benefit from the service as ByBit unveils its own AI-powered offering to cryptocurrency traders using the Dubai-based exchange. ByBit’s ToolsGPT combines ChatGPT’s machine learning technology with the exchange’s market data to provide technical Analysis , price data and metrics. The integration also allows ToolsGPT to generate bespoke answers to traders’ inquiries. The exchange touts the new offering to provide insights and predictions to various cryptocurrency trading scenarios. ToolsGPT will be able to...

Artificial intelligence is going to be a key component in cracking down on the growing number of counterfeit non-fungible tokens (NFTs). Beyond all the good a permissionless internet promises, it also makes it convenient for anyone to freely mint pirated nonfungible tokens (NFTs). There are in fact over 90 million fake copies of NFTs. Because in a permissionless system, what’s to stop bad actors from creating copymints to scam unsuspecting users or damage a brand’s reputation? Only the top 20 most copied NFT projects account for 8 million fake copies across NFT marketplaces. Source: Optic.xyz Since NFTs are valuable only because of their uniqueness, such copycat NFTs are fundamentally worthless for consumers. They imply a massive reputational cost besides financial loss for buyers and creators. This is particularly detrimental to a nascent and emerging industry like NFTs.  The “nonfungibility” and rarity of NFT assets are pivotal to their value proposition. These are the qualities b...