Anticipation of the upcoming Nvidia AI conference has led to pumping action in the AI crypto niche. Multiple AI-driven cryptos, like DEVAI and Near Protocol, have experienced a triple-digit increase in their price on their month-end charts.
What is coming with the upcoming Nvidia AI conference, and how can it impact the AI crypto niche?
What Lies in Store at Nvidia GTC 2024?
A key speaker at the March GTC AI conference will be Jensen Huang, the CEO of NVIDIA. Over 900 sessions and 300 exhibits will cover eight key topics, including robotics in the age of AI, the role of large language models in accelerating workflows, IP challenges that come with generative AI, AI’s input in digitizing large industries, AI regulations, video generation through AI, and machine learning for climate forecasting.
These topics will be covered from March 17th to 21st, along with multiple technical workshops. The conference will also be available digitally to give the broader market an insight into the upcoming innovations in artificial intelligence.
During the coming flagship NVIDIA AI conference that’s not too FAR out
One, and only ONE crypto project will be featured and has their founder on a panel with Jensen Huang.
The future is xxxx. pic.twitter.com/UTaLlkl6Dl
— Arthur (@Arthur_0x) March 6, 2024
DeFiance CEO Arthur reported that one crypto will be featured in this conference and on the panel with Jensen Huang. That crypto is NEAR Protocol, and its Co-Founder, Illia Polosukhin, will be part of the Transforming AI panel on March 20th.
As a result of this announcement, the price of the NEAR Protocol has soared by more than 23% in the last 24 hours. The project’s month-end gain has exceeded 150%.
Significance of the Nvidia AI Conference on AI Cryptocurrencies
AI cryptocurrencies have gained much traction ever since ChatGPT was released. Multiple projects modeling themselves after generative AI ecosystems have emerged and have done well on the price charts.
However, blockchain’s architecture is complex, making AI work within a decentralized ecosystem very difficult. But, the potential remains, which is why multiple AI cryptos are developing innovative ideas.
In light of this, the upcoming Nvidia AI conference may focus on decentralized technologies, too. Adding NEAR Protocol’s Co-Founder to the penal could bring more AI-blockchain developments to light, giving crypto enthusiasts a peek behind the scenes of the AI crypto niche.
Furthermore, AI development within the traditional ecosystem allows investors to place a proxy bet on the industry.
Meme Coins Falter as Traders Move to AI
The memecoin mania of 2024 has started to subside, and major meme tokens are seeing a pullback, with some exceptions like Dogwifhat (WIF).
Alongside Bitcoin’s drop back below the $72k mark at the time of writing, investors may be shifting their funds into AI crypto coins – with the news of Nvidia’s AI conference hitting the internet, traders are eyeing AI-driven utility tokens in hopes of catching the next cryptocurrency to explode.
Top AI Crypto Coins to Watch Out For
Most AI cryptos have experienced an uptrend following the AI conference announcement. CoinMarketCap shows that the cumulative market cap for AI and big data cryptos has exceeded $40 billion. However, the following crypto assets have the most chance of staying high once the conference is complete.
Near Protocol
In light of the announcement that Near Protocol’s Co-Founder will be one of the members of the AI conference panel, the NEAR price has exploded by more than 40% in the last week and over 120% in the past month.
Near Protocol is a chain abstraction stack that offers developers tools to create decentralized applications on various blockchains. The platform leverages JavaScript to facilitate dapp development. Furthermore, it has found its way into multiple entities within the web2 and web3 space, including Alibaba and Polygon.
This open-source platform may introduce more accessible Web3 experiences later this year, which could help boost its value.
DEVAI
DEVAI is another AI crypto pumped in anticipation of the Nvidia AI conference. While DEVAI was largely trending sideways around the $4.5 mark, the announcement increased its value by more than 113%.
Integrating artificial intelligence to compute and deploy smart contracts, DEVAI offers a faster smart contract generation solution. This “contract developer AI” also has a revenue-sharing program for early contracts. Furthermore, the project’s official contact address has been renounced, making DEVAI completely community-owned.
It can facilitate the creation of more decentralized applications within the AI genre, which could help boost its value on the price charts. That is one of the key reasons investors should watch out for this AI crypto.
5th Scape
According to tech blog Spiceworks, the ‘900+ sessions’ at Nvidia GTC 2024 will cover over a dozen topics alongside AI, including ‘augmented reality and virtual reality (AR/VR), robotics, networking, simulation, cybersecurity, and more’.
One new crypto coin in the AR/VR niche we’ve recently reviewed on Coingape is 5th Scape (5SCAPE).
5th Scape is setting out to build the ‘world’s first AR and VR ecosystem’ encompassing an array of gaming experiences, with some of its games already in Beta such as Cage Conquest. Players can earn token rewards for taking part in its play to earn game arenas and get ahead of the crowd by investing in its native token during the presale phase.
The 5SCAPE token presale has so far raised close to $1 million and can be purchased with ETH or USDT via the project website.
Read our full 5th Scape review here and find the full whitepaper at 5thscape.com.
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