17 Jan 2023
AI, Blockchain & NFTs: The Future Investment Opportunities of Web3
The biggest technological advancement in humanity is yet to be seen with the mass adoption of Artificial Intelligence and machine learning algorithms. In this article, we will discuss how the future of AI looks and how the crypto market (and NFTs) will be impacted by it. And most importantly, how to prepare for what's coming by giving you a list of promising projects that might be attractive investments
Introduction:
Blockchain technology and artificial intelligence (AI) are two of the most innovative and rapidly developing fields in today's digital world. While they may seem unrelated at first glance, there are several ways these two technologies can be combined to create robust new systems and applications, which will open the doors to massive investment opportunities for Web3 Investors. In this article, we'll dive deeply into how AI will revolutionize the upcoming years in the digital sector. Then, we'll discuss how Blockchain, NFTs, and AI will affect society. And lastly, we'll give you a list of potential projects to invest in. Let's dive in!
Read
The Evolution of the Internet: From Web1 to the AI
So what will the upcoming ten years in tech look like?
To answer this question, first, we must look back at history and observe how the internet has evolved. Let's go back to the early 90s when the first version of the internet was introduced to a global audience. Web1 was a read-only internet, similar to a newspaper. We used websites to read and obtain information. It was an informative internet. It seemed quite simple compared to today's websites. Back then, the internet was led by big players like Yahoo, AOL, Netscape, and MSN. The Web had a relatively small number of users, and only a few people saw the potential of what it would become in the next decades.
Then in the 2000s, Web2 began its run toward mass adoption by introducing the 'magic ingredient' that Web1 was missing: Interactivity. Web2 became an interactive-social internet where users could 'feed' online platforms with content. We saw the rise of social platforms like Facebook, where people could interact with other humans in a global network. We could share content and connect with friends regardless of distance. Likewise, we experienced the freedom to publish our opinions through Twitter and share our lifestyles through Instagram. YouTube exposed creators and brands to large audiences. Web2 was an internet of intermediaries, and these companies served as 'middlemen' that connected people. Web2 brought global interactivity among its users and changed our society forever. However, two significant issues eventually became a big concern: Privacy & Power. Users' private data represented great value to these large companies (for advertisement and other reasons). As a result, these platforms became massively successful and wealthy. At the same time, the users were just 'contributors' to feed the content on these platforms and had no decision-making power on the direction of these online platforms.
Years later, around 2014, the term Web3 was born. It promoted a decentralized online ecosystem based on blockchain and gained great popularity in 2021. Blockchain brought privacy (and transparency) in a decentralized environment, fixing the two main issues of Web2. Blockchain is the base on which Web3 is built, and one very crucial piece of the success of Web 3 is tokenization.
If you are unfamiliar with tokenization, here's a basic example. Tokenization means taking something big and breaking it into smaller pieces. Just like how you can take a big chocolate bar and break it into smaller pieces to share with your friends. In the digital world, tokenization breaks down digital assets, like a picture, a song, (or even a company) into smaller pieces called “tokens.” These tokens can be bought and sold like a piece of a chocolate bar. This makes it easier and more accessible for people to own and trade digital assets.
Thanks to tokenization, people can own a part of the internet. You can buy a small portion (or Token) of a successful company and receive profits if the company succeeds. Ownership is distributed among its users rather than just a few people at the top of organizations. In other words, Web3 is the internet owned by its users. Owners have voting power and can influence the decision-making of these projects through DAOs (Decentralized Autonomous Organizations), where every member/owner has a vote and can affect the project's direction.
Back to the point… we previously mentioned that the magic ingredient for Web2 was interactivity, which led to its massive success. Now, Web3 also has a magical ingredient that will lead to one of the most significant societal changes in the digital world. That magic ingredient is Efficiency (through AI). Web3 platforms will experience exponential success in the upcoming years by introducing artificial intelligence and machine learning algorithms that will exponentially boost human efficiency while utilizing fewer resources.
How will AI impact Web3?
Fewer Resources + More Output = Great Innovation
To adopt new technology, it needs to use fewer resources to produce an equal or greater total output. By using AI tools, we can get more work done while using fewer resources (like time, money, and effort). Companies building AI tools to minimize human workload while maximizing work output will become highly relevant in the current decade.
Let's use the example of ChatGPT. A computer program owned by OpenAI that can generate human-like text, answer questions, summarize information, and perform other language-based tasks. It can be used in chatbots, virtual assistants, automated writing, and many other applications. This is the first AI tool to reach global adoption. To put it into perspective, It took Netflix 3 years to reach a million users. Twitter took two years. Facebook 10 months. And ChatGPT reached a million users in just five days! Pretty impressive, huh?!
While AI is still in its infant stages, we have already seen a glimpse into its immense potential. In the last 12 months, we have seen the rise in popularity of AI tools that boosts human productivity and efficiency, such as Midjourney (Image generation), Murf.ai (text to speech), Jasper (written content), Quillbot (paraphrasing), SuperHuman (AI email manager), and the list constantly keeps growing.
Potential AI & Blockchain Investment Opportunities for 2023
Remember how we said that Web3 is the internet owned by the people? Meaning that you can own a piece of these projects built on blockchain. As AI increases in popularity, more and more machine learning tools are adopting blockchain as a base to build on top of. Below, we have included a list of AI projects that combine Blockchain and NFTs.
*Disclaimer: This is NOT financial advice, and if you decide to invest in any of these projects, please do so responsibly and DYOR.
Generative Art has been the most common AI use case in NFTs. Using tools like DreamStudio, MidJourney, and DALLE-2, we have seen dozens of creators launching NFT collections, allowing retail investors to buy, sell, and trade through NFT Marketplaces. Although AI has been a great fit for generative art, below, we will point out a few projects creatively using AI, which is worth keeping an eye on in 2023.
- What is it? A decentralized protocol that will enable the creation of interactive and intelligent NFTs (iNFTs). Anyone can use the iNFT protocol to create, train and earn from their intelligent-NFTs, which are brought to life in their Intelligent metaverse known as Noah’s Ark.
- How? The project introduces Intelligent Non-Fungible-Token Protocol. Using this protocol, any NFT can be turned into a live version with a 'unique' personality. This is achieved by fusing the NFT with another ERC-721 asset called the Personality Pod. You can read all the details behind this project on their whitepaper.
- Where? If you want to be entertained by intelligent NFT avatars, you can test out the beta version at noahsark.ai where you can have real voice conversations and debates about life with NFT avatars.
- How To Invest? The project has launched the $ALI token, which can be purchased in multiple markets (Uniswap, Gemini, CoinEx, and Crypto.com). *DYOR
- What is it? The project aims to bring life into your avatars and NFTs in the Metaverse. These avatars can learn, evolve, and improve their skills, making the Metaverse more dynamic.
- How to Invest? $ASTO is the governance token for the ecosystem. The token can also be used for minting, powers, and avatar training. The token is available in markets like Uniswap, CoinEx, and others. It's a small-cap project yet, so it may be quite risky to invest in it. However, it's worth keeping an eye on as the project develops! You can read all the detailed information on their Twitter page and whitepaper.
- What is it? An Artificial Intelligence blockchain that powers peer-to-peer applications with automation and AI capabilities. It is the AI blockchain that aims to be layer one of AI applications on Web3, and their ecosystem is slowly becoming populated by innovative projects. Full specifics are shared through their whitepaper, Roadmap, and Twitter. Fetch.ai seems to be the go-to coin for people looking to invest in blockchain and AI.
- How To Invest? You can invest by buying the $FET token. The token is available in multiple markets, including Binance, Coinbase, Kraken, KuCoin, etc.
- What is it? SingularityNet is looking to shape the future of AI and AGI, which stands for Artificial General Intelligence and refers to a moment in the future when AI will be smarter than humans. The project aims to develop a beneficial, sustainable, and compassionate AI ecosystem now and in the future. More information about this project is available through their whitepaper, website and Twitter.
- How To Invest? You can purchase the $AGIX token at Binance, KuCoin, Uniswap, HotBit, CoinEx, and +10 markets.
That's all for this week's outpost! Remember to subscribe to our newsletter and join our community on Twitter and Discord! We'd love to have you on board!
About Flagship
We’re tracking the entire crypto space, so you don’t have to. Follow us for the latest news (we’re fast) and spot early opportunities; we have eyes everywhere.
- Join our Discord to be part of our active community and discover new assets and opportunities
- Check out our website and whitepaper here
- Get in touch with the team
We’d love to have you onboard!
Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.
