We’ve Released Three New AI Tokens on the Wirex App
- Explore the world of AI-focused cryptocurrencies with Wirex
- Buy, hold, exchange, and spend AGI, FET, and GRT tokens while earning passive income on X-Accounts
- Learn more about AI tokens and their use cases
We’re excited to announce that we’ve launched three new tokens GRT, FET and AGI. But these aren’t just any tokens, they’re AI tokens, which are becoming hugely popular for a multitude of reasons. So we thought we’d give you a quick overview of what AI-focused cryptos are and their use cases!
What are AI tokens?
The emergence of Artificial Intelligence (AI) has led to the creation of new technologies that are transforming the way we live and work, where AI endeavours to perform any intellectual task that a human can do. One of these technologies is AI-focused cryptocurrencies, which combine the power of AI with the security and transparency of blockchain technology.
AI tokens are cryptos that utilise AI in one way or another to improve factors like security, user experience and scalability. The tokens themselves can be used to support the development/deployment of AI systems and power these projects, by rewarding contributors or providing access to AI resources and services, such as decentralised exchanges, image or text generation services (I.e. ChatGPT) and AI-based investment protocols. The use of blockchain technology aims to create a more democratic and decentralised AI system.
What are the use cases of AI tokens?
Access to AI services: AI tokens can be used to purchase access to AI services, such as image recognition, natural language processing, and machine learning. This creates a decentralised marketplace for AI services, where users can access a wide range of AI capabilities from different providers
Funding AI development: AI tokens can be used to fund the development of AI technologies, such as new algorithms, datasets, and hardware. This allows developers to raise funds directly from the community, without relying on traditional sources of funding
Rewarding AI contributors: AI tokens can be used to reward contributors to the development of AI technologies, such as researchers, developers, and data providers. This creates an incentive system that encourages collaboration and innovation in the AI ecosystem
Governance of AI systems: AI tokens can be used to govern AI systems, such as determining the rules for data sharing and algorithm training. This creates a democratic and transparent system for managing AI technologies, where decisions are made by the community rather than a centralised authority
And within Wirex, you can now buy, hold, exchange and sell them, as well as spend them at over 80 million locations using the Wirex card. They’re also available for depositing into X-Accounts where you’ll automatically earn passive income of up to 20% APR interest on them.
What AI tokens have been added to the Wirex platform?
SingularityNET is an open-source, decentralised AI marketplace that allows developers to create, share and monetise AI algorithms. The aim is to democratise access to AI by making it more accessible and affordable. AGI tokens are used to pay for AI services on the platform.
Fetch.ai is a decentralised AI platform that allows for intelligent autonomous agents to be created. Using machine-learning algorithms and blockchain technology, these agents interact with each other and other systems in the ecosystem to perform various tasks in real-time on behalf of users. The platform aims to create a more efficient and effective way of managing and coordinating complex systems, such as supply chains, transportation networks, and energy grids. FET tokens are used to pay for services on the Fetch.ai platform, including the creation and deployment of agents.
Graph Protocol (GRT)
The Graph Protocol is a decentralised indexing and querying protocol that uses AI to allow developers to easily and efficiently search and index blockchain data. Think of it like a search engine but for blockchain data. GRT tokens incentivise indexers providing computer power to the protocol, or can be used to pay for query fees.
Whilst the AI industry is still in its infancy, AI-focused cryptocurrencies have the potential to revolutionise the way we interact with AI technologies, so why not buy them in the Wirex app today?