Crypto and AI Convergence Will Lead to New Applications and Innovations in Digital Infrastructure

SINGAPORE, March 28, 2024 /PRNewswire/ — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today published a report titled ‘Unlocking the Infinite Potential of Crypto and AI.’ The report explores the convergence of AI and crypto, a major trend in the current market cycle that is giving rise to new applications and innovations encompassing areas like model training, AI agents, metaverse, gaming and robots as a service.

OKX Ventures anticipates rapid development in the basic infrastructure and application level of this convergence, leading to its recent investments in:

• io.net: A decentralized platform that reduces resource costs and ensures economic efficiency through token incentives and hardware aggregation;
• MyShell: An open ecosystem that allows users to train personalized AI agents using game clips. Currently, MyShell’s GitHub repository boasts 14,900 stars and 13,000 forks, with a peak daily activity exceeding 100,000, making it one of the most active communities for creators and users in the field;
• 0G: A highly efficient, secure, and programmable Data Availability (DA) layer optimized for on-chain AI, aiming to revolutionize blockchain scalability while maintaining decentralization and security performance;
• FLock.io: An on-chain AI co-creation platform; and
• 0xscope: An internet protocol that leverages on-chain data and blockchain industry data to generate data analytics for generating Web3 entities, a knowledge graph with Web3 recommendation algorithms and a Web3 data layer for decentralized applications.

The report highlights the unprecedented growth of the AI space, underscored by a 581%* year-on-year (YoY) increase in AI computing company Nvidia’s net profit in 2023, as a testament to the industry’s potential. In addition, the report provides a detailed overview of the potential of crypto and AI, outlining the vast application scenarios of crypto for AI. This includes the assetization of crucial components such as:

• AI Agents: For example, MyShell is an open ecosystem that enables users to train personalized AI agents using game clips.
  •  OKX has identified three primary directions for the future development of AI agents:
    • The intelligentization and agentization of assets: This will expand their use cases and value by empowering them to operate and interact autonomously.
    • Fostering interoperability among agents: This will elevate the overall performance of the ecosystem by establishing standards and frameworks that enable smooth interaction and collaboration among diverse AI agents.
    • Build a brand new agent economy system merging AI and blockchain technology: This is aimed at unlocking a novel economic model where AI agents play pivotal roles in content creation, financial services and other domains.
• Decentralized algorithms: An example is io.net, which reduces resource costs and ensures economic efficiency through token incentives and hardware aggregation.
• Data: An example is 0xScope, an internet protocol that leverages on-chain data and blockchain industry data to generate data analytics for generating Web3 entities, a knowledge graph with Web3 recommendation algorithms and a Web3 data layer for decentralized applications.

OKX Ventures Founder Dora Yue said: “This report underscores our strong belief in the transformative power of the convergence between AI and crypto. As we continue to witness unprecedented technological advancements in both fields, we believe that their convergence will catalyze a new wave of innovation and efficiency. Our strategic investments are a testament to our commitment to support and empower projects that are at the forefront of this exciting frontier.”

*Source: Valor International (February 22, 2024)

For further information, please contact:
[email protected]

About OKX Ventures

OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

Disclaimer

SOURCE OKX Ventures