Web3 + AI Sector Overview: 130+ Projects, and What Hidden Gems Remain Undiscovered?
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Web3 + AI Sector Overview: 130+ Projects, and What Hidden Gems Remain Undiscovered?
There are at least 140 Web3 + AI concept projects, with 84 of them having already issued tokens, primarily focused on infrastructure, NFTs, gaming, metaverse, data, computing, chatbots, and others.
Navigating Web3 tides with focused insightsAuthor: Peng SUN, Foresight News
Graphics: aididiao.eth, You Sheng, Foresight News
At the end of November 2022, the release of GPT-3.5 sparked global attention and prompted most crypto practitioners to consider integrating AI with Web3. Over the past year, the concept of "Web3 + AI" has become a trend, with the idea that "blockchain solves issues of production relationships while AI addresses productivity" becoming a consensus.
From November to early December this year, the Web3 + AI sector remains vibrant. From Musk's xAI to Kai-Fu Lee's "01.ai," from the OpenAI drama to Vitalik Buterin’s "My techno-optimism" and d/acc initiative, renewed consensus around decentralized AI has driven broad growth in AI-related projects. As a high-profile market maker, DWF Labs also expressed enthusiasm on Twitter for supporting and investing in decentralized AI projects and seeking collaborations with relevant teams.
Foresight News previously compiled 20 AI-related funded projects from 2022. A year later, Foresight News provides an updated panoramic overview of the Web3 + AI landscape. According to incomplete statistics by the author, there are currently at least 140 Web3 + AI concept projects in the industry, with 84 having launched tokens and some planning token releases next year. These 140 projects span infrastructure, data, prediction markets, computing and compute power, education, DeFi & cross-chain, security, NFTs & gaming & metaverse, search engines, social & creator economy, AI chatbots, DID & messaging, governance, healthcare, trading bots, and more. Among them, infrastructure projects number as many as 29, NFT & gaming & metaverse projects reach 26, and data, computing, and AI chatbot projects each exceed 10.
Notably, the author observes that most Web3 + AI concept projects have solid fundamentals, with grounded teams actively operating and attracting investments from prominent VCs such as a16z Crypto, Jump Crypto, Hashed, DWF Labs, Foresight Ventures, HashKey Capital, Binance Labs, CoinFund, IOSG Ventures, SNZ, Variant, 1kx, Bankless, Hash Global, Animoca Brands, Coinbase Ventures, Galaxy Digital, Sequoia, GSR, Dragonfly, among others. In CoinFund's view, AI is the fastest-growing field next year, while Messari strongly favors the convergence of AI and cryptocurrency.
Panoramic Investment Overview of Web3 + AI Concepts
AI + Infrastructure
Olas (OLAS)
Olas (formerly Autonolas) is a unified network for off-chain services like automation, oracles, and public AI, providing a composable stack for building these services and a protocol incentivizing their creation.
The Autonolas token OLAS has a total supply of 536,673,067 and a circulating supply of 51,893,587, with a market cap of approximately $259 million. It primarily trades on Balancer V2 (Gnosis) and Uniswap V2 (Ethereum), but has not yet been listed on centralized exchanges.
In October 2022, Olas' development team Valory raised $4 million in funding led by True Ventures.
Bittensor (TAO)
Bittensor is an open-source protocol driving a blockchain-based decentralized machine learning network. Machine learning models collaboratively train within the network and receive TAO rewards based on their contribution of cooperative information value. TAO allows external access, enabling users to extract information from the network and adjust activities according to demand.
TAO has a total supply of 5,813,639, all of which are in circulation, with a market cap of $1.879 billion.
Cortex (CTXC)
Cortex is a decentralized world computer capable of running AI and AI-driven DApps, focusing on integrating AI into smart contracts. Users can purchase AI models to enhance smart contract functionality, enabling advanced analytics, data processing, and autonomous decision-making. Cortex issued its CTXC token in 2018, with a total supply of about 300 million. The circulating supply reaches 72% of the total, with a market cap of approximately $61 million.
In February 2018, Cortex completed a private CTXC token sale led by Bitmain and FBG Capital.
Fetch.ai (FET)
Fetch.ai is a blockchain-based machine learning platform aiming to connect traditional products to AI via the Fetch.ai token without altering underlying business applications. Fetch has launched Agentverse, a no-code management service simplifying AI agent deployment for Web3 projects. Fetch introduced the Open Network, using Fetch.ai's Web3 network for agent addressing and naming. Additionally, Fetch.ai is launching enhanced trading products for DEXs. FET is listed on Binance, with a total issuance of 1.152 billion, a circulating supply of 1.043 billion, and a market cap of $534 million.
In March 2022, Fetch.ai launched a $150 million development fund led by MEXC Global, with Huobi and Bybit participating. In March 2023, Fetch.ai received a $40 million investment from DWF Labs, with funds allocated to deploy decentralized machine learning, autonomous agents, and network infrastructure.
SingularityNET (AGIX)
SingularityNET is a decentralized artificial intelligence network whose AI ecosystem includes Cogito, SingularityDAO, Rejuve.ai, NuNet, SophiaVERSE, Awakening Health, Jam Galaxy, HyperCycle, Mindplex, TrueAGI, Singularity Studio, Twin Protocol, and others. AGIX has a total issuance of 1.355 billion, a circulating supply of 1.243 billion, and a market cap of $385 million.
In May 2022, SingularityNET and Singularity DAO received a $25 million investment commitment from investment group LDA Capital, accelerating the adoption of AI tools, expanding the ecosystem, and promoting AI-powered DeFi applications. In November 2023, the DFINITY Foundation announced a collaboration with SingularityNET to launch a joint Decentralized AI (DeAI) program aimed at building DeAI infrastructure and allowing developers to run AI models in smart contracts on the ICP blockchain. Additionally, their respective grant programs "Deep Funding" and "DFINITY Developer Grant Program" will operate jointly to further support DeAI projects.
BP-FLAC
BP-FLAC is a public chain for generative AI infrastructure, an acronym for "Blockchain Powered Federated Learning Artificial Intelligence." The company primarily relies on a global network of GPU nodes to allocate computing power for AI training, uses zero-knowledge algorithms to address data privacy concerns during AI training, and rewards users contributing computing power with tokens.
In November 2023, BP-FLAC announced a $10 million funding round with participation from Eureka Partners, Westlabs, Mybitdata Ltd., DecentraLabs, tech giants Amazon and NVIDIA, and Middle Eastern family office Alkhabeer Fund.
CorgiAI (CORGIAI)
CorgiAI is a community-driven AI project on Cronos focused on building tools using AI, including AI community NFTs and galleries, AI job hunting, and more. CORGIAI has a total supply of 372.5 billion, with a circulating supply of approximately 277.1 billion and a market cap of about $188 million.
In May 2023, CorgiAI was selected for the second cohort of Cronos Labs' startup accelerator program, which focuses on integrating AI and blockchain technologies and plans to invest $100 million to mentor and fund early-stage crypto projects.
AIOZ Network (AIOZ)
AIOZ Network is a Layer 1 public chain for AI, storage, and streaming, interoperable with Ethereum and Cosmos. Supported by a decentralized content delivery network (dCDN), AI computing, and thousands of globally distributed individual nodes, users can share computing resources for storing, transcoding, and streaming digital media content and support decentralized AI computing.
The AIOZ Network token AIOZ has a total supply of 1,058,893,774, all of which are in circulation, with a market cap of approximately $142 million.
iExec RLC (RLC)
iExec RLC is a distributed computing platform offering a blockchain-based AI model marketplace, allowing users to rent out AI models and providing confidential computing, decentralized oracles, DeFi, and off-chain computing. In 2020, iExec became a key member of Intel's AI ecosystem.
The iExec RLC token RLC has a total supply of 86,999,784 and a circulating supply of 72,382,548, with a market cap of about $113 million.
Dynex (DNX)
Dynex is a neuromorphic supercomputing blockchain based on the DynexSolve chip algorithm, proposing a Proof-of-Useful-Work (PoUW) method to improve the speed and efficiency of decentralized networks, aiming to provide computing power for machine learning, fintech, and biopharmaceuticals.
The Dynex token DNX was fairly launched in August 2022 with a deflationary model, a total supply of 78,736,415, a maximum supply of 110,000,000, a circulating supply of 78,736,892, and a market cap of approximately $74.45 million.
Injective (INJ)
Injective is a decentralized smart contract platform based on Cosmos, whose "plug-and-play" financial infrastructure enables integration of AI into its system, helping prediction markets, sports and derivatives exchanges, lending protocols, and other applications in its ecosystem achieve AI-driven trading.
The Injective token INJ has a total supply of 100 million, a circulating supply of 84,255,555, and a market cap of about $2 billion.
In August 2022, Injective completed a $40 million funding round led by Jump Crypto, with BH Digital, the digital assets division of hedge fund Brevan Howard, participating.
JasmyCoin (JASMY)
JasmyCoin is a Japanese IoT platform developer founded in 2016 by Kazumasa Sato, a former Sony employee. JasmyCoin's 2023 roadmap indicates it will develop a Jasmy AI engine and build an AI-driven Web3 operating system through this engine. The JasmyCoin token JASMY has a total supply of 50 billion, a circulating supply of 48.4 billion, and a market cap of about $280 million.
In August 2023, JasmyCoin partnered with DWF Labs.
Cere Network (CERE)
Cere Network is a decentralized data cloud platform providing a trustless, scalable, and globally decentralized ecosystem for enterprises and consumers. Cere DDC Clusters are automated dynamic hubs offering seamless AI inference at the edge.
The native Cere Network token CERE has a total supply of 10 billion, a circulating supply of 4,479,500,530, and a market cap of approximately $26 million.
In August 2019, Cere Network raised $3.5 million in funding led by Binance Labs. In March 2021, Cere Network completed a $5 million private placement round led by Republic Labs. In April 2021, Cere Network raised $1 million through a public sale on DAO Maker. On September 9, 2021, Cere Network secured $31 million in funding led by Republic and Polygon.
enqAI (ENQAI)
enqAI is a decentralized, censorship-resistant AI model network, fully driven by a decentralized network of GPU nodes from image and audio generation to large language models, free from hidden biases, political agendas, and censorship. Its ecosystem includes Enlil3, an Arbitrum Rollup chain; noiseGPT, a suite of AI-powered creative audio generation tools; botifAI.app, an AI solutions provider; myAnalyst, an analytics tool for business data; and aiDULT, AI-generated adult video and audio content.
The enqAI token ENQAI has a total supply of 1 billion, a circulating supply of 878,576,510, and a market cap of approximately $28.63 million. Currently, ENQAI is not listed on any exchange.
Bostrom (BOOT)
Bostrom is a data oracle and smart contract platform in the Cosmos ecosystem and a testnet for the Cyber network, providing users with a range of decentralized tools through a P2P model.
The Bostrom token BOOT has a total supply of 1,176,867,688,980,010, a circulating supply of 573,868,778,337,127, and a market cap of approximately $14.26 million.
Airstack
Airstack is a Web3 developer platform. Its AI Assistant allows anyone to access data on addresses, NFTs, ENS, Farcaster, Lens, L1, L2, etc., define logic, select attributes, and summarize results without needing GraphQL skills.
Airstack has not issued a token.
In May 2023, Airstack raised $7 million in funding led by Superscrypt, with participants including Polygon, Hashed Emergent, NGC, Primal Capital, UOB Ventures, and Signum Capital.
AiONE (AiONE)
AiONE is a decentralized AI integration platform primarily helping enterprises and project owners integrate artificial intelligence into various business development processes.
The AiONE token has a total supply of 100 billion, currently circulating on PancakeSwap but not listed on any exchange, with a market cap of approximately $12.02 million.
In May 2023, AiONE announced completion of a $3 million private placement round and has launched on Binance Smart Chain.
Roko Network (ROKO)
Roko Network is a deep technology R&D protocol aiming to integrate multiple network components to create self-organizing human-machine networks. The network will leverage Marlin Protocol, Flux Network, Syntropy Network, Ethereum, Celestia, FuelVM, and Bittensor to ensure effective handling of the massive data and computational demands required by AI, machine learning, and mechatronics systems.
The Roko Network token ROKO has a total supply of 369,369,369,369, a circulating supply of 195,320,603,149, and a market cap of approximately $9.46 million.
Convex
Convex is a web developer management platform that released the open-source project AI Town in August, allowing developers to run and build their custom AI world SIMs using JavaScript. The project aims to empower everyone to construct their own simulation environments using AI agents.
Convex has not issued a token.
In April 2022, Convex raised $26 million in funding led by a16z, with participation from the Jamstack Innovation Fund and individual investors including Nat Friedman, former CEO of GitHub, Ram Shriram, board member of Alphabet, and Michael Ovitz, founder of Creative Artists Agency. Martin Casado, general partner at a16z, will join Convex's board.
Giza
Giza is an AI and crypto hybrid project dedicated to bringing artificial intelligence into the blockchain space and attempting to integrate zero-knowledge proof technology with AI, thereby completing blockchain transaction verification with less computational power.
Giza has not issued a token.
In July 2023, Giza raised $3 million in a Pre-Seed round led by CoinFund, with StarkWare, TA Ventures, and Arrington Capital participating.
ChainML
ChainML is an AI-powered decentralized machine learning protocol. Its developed open-source platform uses collaborative "agents" to help enterprises rapidly develop generative AI products and applications.
ChainML has not issued a token.
In September 2022, ChainML announced completion of a $4 million seed round led by IOSG Ventures, with HashKey Capital, SNZ, Chainlink, Silicon Valley executives, and several angel investors participating.
Together AI
Together AI is a generative AI startup aiming to build an open-source, decentralized cloud platform tailored for large foundation models. It has already built a decentralized cloud platform for AI research, including open models such as Bloom, OPT, T0pp, GPT-J, and Stable Diffusion. One of its research focuses is creating accessible alternatives to closed-source AI systems.
Together AI has not issued a token.
In May 2023, Together AI completed a $20 million seed round led by Lux Capital, with participation from Long Journey Ventures, Robot Ventures, Scott Banister (co-founder of PayPal), Alex Atallah (co-founder of OpenSea), and MC Lader (COO of Uniswap).
In November, Together AI announced completion of a $102.5 million Series A round led by Kleiner Perkins, with NVIDIA, Emergence Capital, NEA, Prosperity 7, Greycroft, 137 Ventures, and seed investors Lux Capital, Definition Capital, Long Journey Ventures, SCB10x, SV Angel, Factory, and Scott Banister participating.
Modulus Labs
Modulus Labs is a project combining artificial intelligence and cryptocurrency. It has launched a ZK prover tailored for AI applications, solving challenges related to ensuring tamper-proof AI access for DApps. This solution enables smart contracts to leverage AI functionalities without compromising the fundamental principles of decentralization. Modulus is collaborating with Upshot and Ion Protocol to launch AI applications on the Ethereum platform. Additionally, they are open-sourcing their ZKML prover to the broader community. Modulus envisions a future where cryptographic accountability safeguards the integration of AI across various fields—including finance and healthcare—without compromising security.
Modulus Labs has not issued a token.
In November 2023, Modulus Labs completed a $6.3 million seed round with participation from Variant and 1kx, alongside Floodgate, Inflection, Alliance, Bankless Ventures, Blockchain Builders, GCR, and angel investors from the Ethereum Foundation, Worldcoin, Polygon, Celestia, Solana, Microsoft, and Gensyn.ai.
PlatON (LAT)
PlatON is a fully digital public infrastructure, long focused on privacy-preserving AI computing technology. Its current strategic business is TOPOS.
LAT has a total supply of 10.25 billion, a circulating supply of about 4.8 billion, and a market cap of approximately $43.52 million.
Cerebrum Tech
Cerebrum Tech is a generative AI, gaming, and Web3 solutions provider that has not issued a token.
In October 2023, Cerebrum Tech announced completion of a $1.8 million funding round at a $15 million valuation, led by Boğaziçi Ventures with participation from venture capital firm Inveo Ventures Coinvestment.
Jada AI
Jada AI is an AI project utilizing blockchain technology, operating in a blockchain-based environment where AI computations are executed among participating network nodes. The project aims to deliver AI services to assist organizations in decision-making and scaling operations. Jada AI plans to release the Jada Mark I prototype series in spring 2024 and Mark II in summer 2025.
Jada AI is currently incubating and has not issued a token.
In August 2023, Jada AI completed a $25 million funding round with participation from alternative investment group LDA Capital.
Vertex Labs (CMP)
Vertex Labs is a metaverse, Web3, and AI infrastructure provider that previously acquired Digimental Studio, the developer of the NFT series HAPE PRIME, for $12 million. Vertex Labs has launched Caduceus (offering Caduceus TrustedAI), a Layer 1 blockchain for metaverse development; Vertex Network, a Layer 3 network and distributed real-time rendering and AI computing platform; LightCycle, a 3D virtual world platform; and Hape Prime, a Web3 brand integrating fashion, music, and culture.
The Caduceus token CMP is part of DWF Labs' portfolio, with a total supply of 800 million.
IOST (IOST)
IOST is a blockchain technology application platform that announced in April the establishment of the IOST AI Lab, promoting the development of the IOST AI sidechain and refining related product development to drive innovation in blockchain + AI powered Web3 intelligence. IOST stated that its AI Lab team mainly consists of experts in AI algorithms and large language models (LLMs) along with core technical developers from IOST.
The IOST token has a total supply of 18,708,894,189, all of which are in circulation, with a market cap of approximately $185 million.
Terminus OS
Terminus OS is a Web3 operating system based on an open and proprietary Blockchain-Edge Node-Client (BEC) architecture developed by ByteTrade. In this architecture, the client is a lightweight software for users, deployable on browsers, mobile devices, or any device, realizing AI POI (Proof of Intelligence) for the AI era.
Terminus OS has not issued a token.
In June 2022, ByteTrade Lab completed a $50 million Series A round with participation from SIG Asia Investments, INCE Capital, BAI Capital, Yunji Capital, BlueRun Ventures, and PCG.
Flock.io
Flock.io is a native Web3 data privacy solution oriented toward AI, aiming to bring machine learning to blockchain. Its architecture centers on a distributed computing environment capable of handling large amounts of data, ensuring users maintain full control over their data and can access it anytime without intermediaries. Flock's smart contract applications can transparently, securely, and verifiably define training processes, manage model access, and allocate work incentives. Currently, Flock.io has launched its decentralized machine learning platform testnet.
Flock.io has not issued a token.
In July 2022, Flock.io completed a $2 million pre-seed round.
AI + Data
Grass
Grass is a decentralized incentivized web scraping network launched in June 2023, focusing on transforming public web data into AI datasets, making public web data more accessible for open-source AI projects. It can be seen as a decentralized AI oracle.
On December 20, 2023, Wynd Network, the team behind Grass, completed a $3.5 million seed round co-led by Polychain Capital and Tribe Capital, with participation from Bitscale, Big Brain, Advisors Anonymous, Typhon V, Mozaik, and others. Wynd's total funding has reached $4.5 million.
The Graph (GRT)
The Graph is a decentralized indexing protocol whose main AI use cases involve deploying automated decision-making tools and lowering the barrier to accessing Web3 data. Its new roadmap in November plans to include AI-assisted query services ranging from querying and analysis to large language models (LLM). GRT has a circulating supply of 86% of the total, with a market cap exceeding $1.5 billion.
The Graph token GRT has a total supply of 10,788,004,319, a circulating supply of 9,361,190,610, and a market cap of approximately $1.5 billion.
In January 2022, The Graph raised $50 million in funding led by Tiger Global. In February, six venture capital firms—Multicoin Capital, Reciprocal Ventures, gumi Cryptos Capital, NGC Ventures, Digital Currency Group (parent company of CoinDesk), and HashKey—jointly launched a $205 million ecosystem fund to grant teams building DApps using The Graph's query technology, covering areas such as DeFi, NFTs, DAOs, markets, cross-chain infrastructure, and the metaverse.
KNN3 Network
KNN3 Network is an AI-driven Web3 data management protocol aiming to provide visualization solutions for multi-chain data. KNN3's products include TypoX, a Web3 knowledge search engine; K.Transformer, a Web3-native AI agent center; and KNexus, an AI-driven innovative community.
KNN3 has not issued a token.
In September 2022, KNN3 Network completed a $2.4 million seed round led by Hash Global and Liang Xinjun, co-founder of Fosun International, with participation from Mask Network, MetaWeb Venture, Eniac Venture, Tess Venture, Stratified Capital, Fundamental lab, Incuba Alpha, Zeuth Venture, Cogitent Venture, Atlas Capital, ETHsign, Impossible Finance, RSS3, ShowMe, and others.
Spice AI
Spice AI is a Web3 data infrastructure provider composed of composable, ready-to-use data and AI building blocks, pre-loaded with over 100TB of ready-to-use Web3 data. Spice AI connects real-time and historical time-series data, SQL queries, ETL, serverless computing, machine learning training, and inference within a unified cloud platform and a developer-centric community hub.
Spice AI has not issued a token.
In September 2022, Spice AI completed a $13.5 million seed round led by Madrona, with participation from Blackbird Ventures, Basis Set Ventures, Founders' Co-op, and individual investors including Nat Friedman, former CEO of GitHub, Thomas Dohmke, CEO of GitHub, and Mark Russinovich, CTO of Microsoft Azure. Spice AI aims to provide developers with blockchain data to make it easier for them to utilize data for complex development tasks such as building AI models.
SnailBrook (SNAIL)
SnailBrook is a decentralized utopian cryptocurrency project currently focused on building a decentralized cryptocurrency data platform using AI for real-time project updates, chart trends, and price analysis. It also plans to build products such as The SnailBrook Platform, SnailBox, Snail Staking, Pearling Farming, and PearPad.
The SnailBrook token SNAIL has a total supply of 100 billion, a circulating supply of 80,373,015,782, and a market cap of approximately $15.55 million.
Measurable Data (MDT)
Measurable Data is a decentralized data exchange economic system aiming to provide a blockchain-based data economy where data providers and buyers can securely and anonymously trade data. Measurable Data's ecosystem includes MailTime AI
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