A picture that takes you on a quick tour of the panorama of 178 encryption AI projects

Author: Dima Khanarin

Compiled by: DeepTechFlow

The combination of Crypto and AI is rapidly developing. After Devcon, I compiled a map covering all known projects, aiming to help everyone better understand the current situation in this field.

This map divides the project into the following three categories:

Apps

Middleware

Infrastructure (Infra)

Each category contains financing data and information of Tokens that have been listed.

1. Applications (31 projects, total financing over $240 million, 8 tokens have been listed, total FDV exceeds $3 billion):

1.1) Decentralized Finance Applications

6 projects, with a financing of 1 million US dollars, currently have no tokens listed.

Including @rug_ai, @RPS_Labs, and so on.

1.2) Chatbot

4 projects, 1 Token has been launched, with a total FDV exceeding 10 million US dollars.

For example, @Libertai_DAI, etc.

1.3) Payment Application

6 projects, raised $33 million, currently no tokens online.

Representative projects include @PaymanAI (raised $13.8 million), @trySkyfire (raised $9.5 million), @BitteProtocol (raised $7.5 million), etc.

1.4) AI Agents and Influencers

More than 10 projects, 10+ Tokens have been listed, with a total FDV exceeding 3 billion US dollars.

Including TT, ai16z, Zerebro, @centienceio, etc.

1.5) Engineering and Safety

4 projects, raising $33 million, already launched 2 Tokens, with a total FDV exceeding $200 million.

For example, @Chain_GPT ($CGPT, FDV $120 million), @FortaNetwork ($FORT, FDV $100 million), @MetaTrustLabs ($10 million), etc.

1.6) Consumer Applications

6 projects, raised 12 million US dollars, launched 2 Tokens, with a total FDV exceeding 100 million US dollars.

Includes @aiarena_ ($NRN, FDV $80 million), @bottoproject ($BOTTO, FDV $60 million), etc.

1.7) Smart Tools

4 projects, with a total financing of $1.63 billion, have listed 2 Tokens, with a total FDV exceeding $20 billion.

For example, Arkham Intel ($ARKM, FDV $2 billion), Kaito, Dune, and Messari.

2. Middleware (106 projects, total financing exceeds 8 billion US dollars, 25 Tokens have been listed, total FDV exceeds 180 billion US dollars):

2.1) Training and Collaboration

16 projects, raised $120 million, 4 Tokens have been launched, with a total FDV exceeding $10 billion.

Including well-known Bittensor and Sentient, as well as @assisterr, @Pluralis__ and so on.

Tradable tokens include @Dither_Solana ($DITH, FDV $10 million), @hyper_tensor ($TENSOR, FDV $25 million), and @communeaidotorg ($COMAI, FDV $200 million).

2.2) Reasoning Service

17 projects, raised $57 million, 2 Tokens launched, total FDV exceeds $50 million.

For example, Allora Network (raised $35 million), @OpenGradient (raised $8.5 million), @hyperbolic_labs (raised $7 million), and small teams like @openex_network ($OEX, FDV $45 million).

2.3) Data Platform and Monetization

23 projects, with a financing of 240 million US dollars, have launched 7 Tokens, with a total FDV exceeding 1 billion US dollars.

Having many well-funded protocols: Story Protocol (raised $134.3 million), Space and Time (raised $50 million), @SaharaLabsAI (raised $43 million), Ocean Protocol ($OCEAN, $5 billion FDV), Vana (raised $25 million), Hivemapper ($HONEY, $5 billion FDV).

2.4) Privacy Protection

14 projects, raising $250 million, 2 tokens have been launched, with a total FDV exceeding $800 million.

For example, Zama (funding of 82.3 million USD), Oasis Protocol ($ROSE, FDV of 800 million USD), etc.

2.5) Intelligent Agent Platform

24 projects, raising 1.75 billion US dollars, have launched 6 Tokens, with a total FDV exceeding 65 billion US dollars.

Including Fetch AI ($FET, FDV 3.5 billion USD), @Spectral_Labs ($SPEC, FDV 1 billion USD), @virtuals_io ($VIRTUAL, FDV 450 million USD), @autonolas ($OLAS, FDV 850 million USD), and @MorpheusAIs ($MOR, FDV 800 million USD).

2.6) Research

3 projects, raising 5 million US dollars, currently no tokens listed.

These projects focus on cutting-edge research in the field of AI and blockchain, representing teams including @NousResearch, @physynAI, and @peri_labs.

2.7) Data Collection and Annotation

9 projects, $30 million raised, 1 Token launched, with a total FDV of over $120 million.

Representative projects include @getmasafi ($MASA, FDV $126 million), @din_lol_ ($8 million) and @KivaAi ($7 million).

3. Infrastructure (a total of 41 projects, with a total financing of over 10 billion US dollars, 24 Tokens have been launched, and the total Fully Diluted Valuation (FDV) exceeds 420 billion US dollars)

3.1) Computing Resources (Compute)

22 projects, raised $2.12 billion, launched 14 Tokens, total FDV exceeds $110 billion.

Representative projects include Gensyn (raised $50 million), Render ($RENDER, FDV $4 billion), @HiveDistributed (raised $13 million), @PhalaNetwork ($PHA, FDV $125 million), Aethir ($ATH, FDV $2.6 billion), @fluence_project ($FLT, FDV $250 million), @SpheronFDN ($7 million), @akashnet ($AKT, FDV $1 billion), @nosana_ai ($NOS, $33 million FDV), @Neura_io ($ANKR, FDV $34.2 million), @RunOnFlux ($FLUX, FDV $25 million), etc.

3.2) AI Special Chain (AI Chains)

10 projects, with a total financing of 3.57 billion US dollars, have launched 4 Tokens, with a total FDV exceeding 90 billion US dollars.

Projects represented include @OG_network (financing 3.25 billion USD), Autonomys (financing 33 million USD), Io.net ($IO, FDV 18 billion USD), @golemproject ($GLM, FDV 3.7 billion USD) and Ora ($ORAI, FDV 1.2 billion USD).

3.3) Data Storage

8 projects, raised 3.74 billion dollars, launched 5 Tokens, with a total FDV exceeding 100 billion dollars.

Representative projects include GenesysGk (raised $43 million), @storj ($STORJ, FDV $210 million), Ceramic Network (raised $30 million), @Rivalz_AI ($11 million), @AIOZNetwork ($AIOZ, FDV $900 million) and @ArweaveEco ($AR, FDV $1.2 billion).

3.4) Proof of Humanity (人类身份验证)

This category, represented by WorldCoin, raised $115 million, Token $WLD, with a total FDV of up to $22 billion.

Why do I need to carry out this massive analysis work?

My original intention was to help venture capitalists (VCs) and encryption enthusiasts discover potential hot Tokens, while also hoping to deconstruct the current market frenzy:

Is there enough funding in this area?

Does each category have strong protocol support?

Is there any real market appeal beyond the concept of AI coins?

From the current situation, the answer is basically negative:

Funds are still insufficient - $2 billion is insignificant for a rapidly developing field.

It is very difficult to compete with centralized labs in AI stack development.

The market appeal of most projects still stays in the speculative stage, and mature applications have not yet emerged.

Currently, funds are mainly concentrated on infrastructure and middleware, but this situation will change with the development of the ecosystem.

I agree with the viewpoint of a16z: over the next few years, value will gradually shift to the Application Layer.

Finally, the entire Crypto x AI economy will be cross-chain interaction and supported by @EverclearOrg.