Best AI Tokens of 2024: Year's Top Performers

Artificial intelligence is the dominant narrative in 2024, resonating strongly in web3 and mainstream technology spheres. Over the past two quarters of 2023, AI-focused crypto projects have surged considerably, sustaining significant gains that extended into 2024. Notably, the launch of SORA, an AI-driven text-to-video solution by OpenAI, alongside Nvidia’s record-breaking quarterly earnings, has sparked a bullish season for AI initiatives.

We anticipate this momentum to persist as investors increasingly gravitate toward decentralized AI solutions. Let’s dive in deeper!

Top Performers and AI Market Dynamics

Source: CoinGecko

According to CoinGecko data, Nosana emerged as the top performer among crypto AI coins in 2024, with a staggering price surge of 987.9%. Its value, starting at $0.56, soared to $6.01 within two months. Following closely behind, DeepFakeAI experienced a massive increase of 628.6%, climbing from $0.0008 to $0.0069. Synesis One secured the third spot, witnessing a 595.4% rise from $0.016 to $0.108 by the end of February. On average, AI crypto coins displayed a 257.2% increase in value from January 1 to February 29, 2024.

Regarding market capitalization growth, Bittensor took the lead with a considerable addition of $2.22 billion, trailed by Render with a $1.20 billion increase. SingularityNET followed closely in third place, with a rise of $0.51 billion since the onset of 2024, reaching $0.93 billion. Despite its notable price surge, Nosana’s market capitalization rose by only $0.45 billion, positioning it in fifth place, behind Akash Network, which added $0.51 billion. Let’s look at these projects, shall we?

1. Nosana

As the global AI revolution expands, the demand for AI inference surges as many projects seek to train and evaluate their AI models. Consequently, a significant shortage of GPUs, crucial for executing this vital aspect of any AI project, has emerged, potentially leading to inflated costs. Furthermore, many expect these costs to soar as AI models become increasingly sophisticated.

In response to this challenge, Nosana, a Web3 project, is pioneering a solution by integrating blockchain technology with AI inferencing through the Solana network. By leveraging this innovative approach, users can conveniently and affordably rent computing power for AI inferencing by establishing a decentralized GPU grid.

In 2023, the Nosana platform shifted its focus from providing decentralized CI/CD services to AI inference due to the identified gap in the availability of scalable computational resources, particularly GPUs required by AI projects.

Meanwhile, with backing from the Solana Foundation, Nosana introduced an incentivized test grid in December 2023, allowing users to deploy and execute AI inference workloads.

According to its roadmap, Nosana will unveil its primary grid in the first or second half of 2024.

$NOS is the native utility token within the Nosana ecosystem, complying with SPL standards and powering the Solana GPU grid. NOS tokens serve multiple purposes, including payment for services on the Nosana marketplace, purchasing computing resources, and deploying AI inference workloads. Additionally, NOS tokens are essential to incentivize participation in the Nosana GPU Test Grid and reward platform node operators.


Ticker Symbol: $NOS

Market Cap: $418.26M (At the moment of publishing this article)

Circulating Supply: 83.4M

Total Supply: 100M

Chain: Solana

Nosana’s approach, which allows GPU owners to lease unused computing devices for rewards while offering AI users access to affordable computing power at a fraction of the market price, embodies the ideal framework needed to actualize the AI vision in the tech space.

2. DeepFakeAI

The DeepFakeAI platform aims to democratize access to deepfake services by enabling users to generate lifelike deepfake personas without requiring advanced technical expertise. It offers preset characters with realistic voice modulation, synchronized lip movements, and AI-generated videos. Moreover, users can also create new characters by isolating noise from source clips, gathering relevant images, and training the algorithm for video creation.

Accessible via the web platform or Telegram, DeepFakeAI’s ecosystem includes the web platform itself, Telegram bot integration for community use, and the FakeAI deflationary token.


Ticker Symbol: $FAKEAI

Market Cap: $16.5M (At the moment of publishing this article)

Circulating Supply: 958.8M

Max Supply: 1B

Chain: Ethereum

Deepfakes pose a concern, yet they represent only a fraction of the broader issue. Catastrophizing their significance can lead to misconceptions and a distorted view of reality. Instead of exaggerating their potential impact, examining their current utilization is more constructive for a better understanding.

Anyhow, despite ongoing ethical considerations and concerns surrounding deepfake tech, DeepFakeAI showcases the beneficial possibilities of this tech when employed in a contained and ethical manner.

3. Synesis One

The AI training data market will expand substantially across various sectors. However, the dominance of major tech corporations exploiting extensive consumer data raises concerns about privacy and individual autonomy. Synesis One aims to revolutionize this landscape.

Synesis One operates as a decentralized ecosystem on Solana, comprising data contributors, traders, and consumers. Essentially, it functions as a platform for data crowdsourcing, where individuals can earn $SNS by completing micro-tasks that aid in AI training.

The platform employs a dual-token system consisting of Synesis ($SNS), a governance token, and Kanon, an NFT data token. Its vision is to establish the largest Web3 data utility accessible to AI and individuals worldwide.

In a nutshell, by harnessing the collective power and insights of the crowd, Synesis One aims to challenge Big Tech’s data monopolies, creating a robust wealth generation platform for Synesis and Kanon holders.

Besides, Synesis One is regulated by the Swiss Financial Market Supervisory Authority (FINMA), which ensures compliance and accountability in its operations.


Ticker Symbol: $SNS

Market Cap: $62.8M (At the moment of publishing this article)

Circulating Supply: 526.2M

Max Supply: 1B

Chain: Solana

Decentralized crowd-work platforms such as Synesis One will democratize AI by empowering individuals who contribute to its development, thereby restoring control and ownership to the people.

4. Bittensor

Presently, the training of AI models necessitates extensive computing resources and data, primarily accessible to major corporations like Google, IBM, or Microsoft. However, this centralization leads to isolated AI models. Consequently, Bittensor works to democratize AI and machine learning, reshaping them into public resources reliant on cooperation and peer-to-peer interactions.

Essentially, Bittensor operates as a decentralized blockchain network, serving as an open P2P ecosystem for creating, training, sharing, and trading AI and ML models. The native crypto of the Bittensor ecosystem is $TAO, which serves various functions such as rewards, staking, governance, fees, and payments.

Meanwhile, machine learning models collaborate in training and receive rewards in $TAO based on the value they contribute to the collective. $TAO also facilitates external access, enabling users to extract information from the network while tailoring its activities to their requirements.

Interestingly, Bittensor’s $TAO draws inspiration from Bitcoin’s tokenomics, featuring a comparable total supply of 21 million tokens and reduced emission volumes every four years.


Ticker Symbol: $TAO

Market Cap: $4.1B (At the time of publishing this article)

Circulating Supply: 6.37M

Max Supply: 21M

In a recent blog post, Ethereum founder Vitalik Buterin seemingly endorsed Bittensor, suggesting that it presents an avenue to incentivize the development of superior AI through financial rewards.

5. Render

Processing high-resolution motion graphics in real-time requires substantial computational resources and is often associated with considerable expenses. The Render Network addresses this challenge by tapping into unused GPU power and delivering it securely to end-users.

Essentially, the Render project is dedicated to offering real-time 3D rendering services through a decentralized cloud platform, enabling users to trade their GPU-based processing power. Operating on Kubernetes, a container orchestration system supporting various cloud services, Render employs a reverse auction model, where customers set a price budget, and providers compete for slots to meet their needs.

Render’s P2P structure ensures high speed, scalability, and efficiency. This model facilitates the creation of advanced 3D renders by artists and developers, with the benefit of next-generation digital rights management (DRM) on the platform.

The Render Network’s native utility token, $RNDR, is integral for network payments. Render launched its mainnet on Ethereum in April 2020 before successfully migrating to Solana in November 2023.


Ticker Symbol: $RNDR

Market Cap: $4.2B (At the time of publishing this article)

Circulating Supply: 381.8M

Max Supply: 531M

Chain: Ethereum, Polygon, Solana

Unlike conventional web3 GPU usage, which is typically confined to mining activities, Render’s technology utilizes GPUs specifically for rendering purposes while capitalizing on blockchain functionalities such as network capabilities, incentives, and trust mechanisms.

6. SingularityNET

The SingularityNET project is a decentralized marketplace enabling users to list, explore, evaluate, and acquire various AI algorithms and projects. Its primary objective is to foster the development of artificial general intelligence (AGI) with expansive capabilities.

Co-founded by Dr. Ben Goertzel and Dr. David Hanson in 2017, the SingularityNET platform collaborates with Hanson Robotics, notably recognized for creating ‘Sophia,’ a humanoid robot that introduced AI’s potential to mainstream audiences. Unsurprisingly, SingularityNET also partners with OpenCog Hyperon to develop and oversee Sophia’s operations.

Hosted on both the Ethereum and Cardano blockchains, SingularityNET allows developers to publish their creations for use by individuals or commercial entities. The native token of SingularityNET is $AGIX, which is integral for platform transactions.


Ticker Symbol: $AGIX

Market Cap: $1.3B (At the time of publishing this article)

Circulating Supply: 1.27B

Max Supply: 2B

Chain: Ethereum, Cardano

Essentially, SingularityNET facilitates collaboration between developers and users to accelerate AI growth—their goal: an AGI system adaptable to diverse tasks, mirroring human capabilities. Despite many challenges, SingularityNET aims to overcome them through its holistic learning environment.

7. Akash Network

Akash Network is revolutionizing the traditional cloud computing industry by offering convenient access to cloud resources through decentralization. It enables individuals and businesses to lease computing resources like CPU, memory, and storage from a global network of providers.

Founded in 2018 by Overclock Labs, a software development company established by Greg Osuri and Adam Bozanich, Akash initially focused on creating a traditional multi-cloud deployment platform. However, it later shifted its focus towards launching a distributed cloud computing marketplace to decentralize cloud computing. Following several testnet releases, the Akash Mainnet went live in September 2020.

Besides, Akash’s infrastructure encompasses decentralized cloud computing, a permissionless marketplace, high-security measures, and flexibility with staking incentives. Furthermore, Akash introduced the Supercloud concept—a decentralized network providing unrestricted access to computing resources, including GPUs, from various providers.

Meanwhile, leveraging the Cosmos SDK, the Akash Network facilitates seamless integration with other blockchain networks and encourages cross-chain collaborations. The AKT token is the utility token of the Akash Network, fulfilling multiple functions such as community governance, network security, value exchange, and incentivizing participation.


Ticker Symbol: $AKT

Market Cap: $1.2B (At the moment of publishing this article)

Circulating Supply: 229.7M

Max Supply: 388.5M

Chain: Cosmos, Osmosis

Akash Network offers a compelling divergence from traditional cloud service providers. It offers individuals and businesses flexibility, efficiency, and cost-effectiveness in acquiring computing resources. Much like how platforms such as Airbnb and Uber revolutionized access to accommodation and transportation, Akash is redefining the cloud computing landscape by democratizing access to compute resources.


From Nosana’s innovative approach to democratizing access to computational resources for AI projects to DeepFakeAI’s focus on realistic deepfake generation and from Synesis One’s collaborative data marketplace to Bittensor’s efforts in democratizing AI training, the diversity of AI web3 initiatives is staggering.

Meanwhile, SingularityNET’s aim for creating an AGI system, Render’s decentralized 3D rendering platform, and Akash Network’s disruption of traditional cloud services further enrich this ecosystem.

Truly, the convergence of AI and web3 has limitless possibilities! Stay tuned for more!

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.


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