Eyeing the soaring profits of Nvidia stocks? You might want to consider these AI tokens

Author: BitpushNews Mary Liu

Chip giant Nvidia has set a new record for its stock price, with its market value soaring to nearly $2 trillion, benefiting the artificial intelligence sector as well.

According to CoinMarketCap data, after Nvidia released its earnings report, AI tokens experienced a widespread surge, with SingularityNet (AGIX) rising over 20%, FetchAI (FET) up over 10%, and Render (RNDR) increasing by 8%. The overall market capitalization of AI tokens has exceeded $16.5 billion.

There are multiple reasons behind the recent surge in AI-related tokens. Strahinja Savic, Head of Data and Analytics at FRNT Financial, stated in an interview: "The launch of OpenAI's Sora and Nvidia's impressive sales forecast are fueling broader optimism about artificial intelligence, which is spreading into the crypto space. We've seen this in the past in the crypto sector, where tokens related to the Metaverse surged when Facebook rebranded to Meta."

Investors are eager to seek alternative blockchain and AI intersections. This article will highlight five AI concept projects worth noting based on recent trends: Scotty the AI, Render, Fetch AI, iExec RLC, and IQ.

Scotty the AI

Scotty AI is an artificial intelligence project focused on blockchain security and fraud detection, attracting significant investor attention following the launch of OpenAI's Sora and a tweet from Vitalik Buterin.

The inspiration for Scotty's logo comes from a cute Scottish Terrier, and its presale has recently surpassed the milestone of $500,000.

Its website describes that Scotty will "easily analyze complex algorithms and code, discovering patterns and anomalies that even the most skilled human programmers might miss."

It also states that Scotty can "sift through vast amounts of data in seconds, looking for clues and connections that others might not imagine," making Scotty the ultimate on-chain detective, ensuring the health of the blockchain and the safety of user funds.

According to its website, 30% of Scotty tokens have been allocated for presale, with the remaining 70% used for staking rewards, ecosystem development, exchange liquidity, and marketing.

As the presale progresses, investors can purchase SCOTTY at a discounted price. The current price is $0.00555, but it will increase throughout the event, with the next price hike occurring in eight days.

Render

Render is a decentralized GPU network that provides computing resources for media, AR developers, game studios, medical services, and more.

The project currently leads the crypto AI sector with the highest market capitalization, reaching $2.8 billion. Considering the total market capitalization of all cryptocurrencies is $1.98 trillion, Render still has significant growth potential.

Its token has performed strongly recently, rising 19.55% today, 51% this week, and 92% this month.

The project's use case allows unused computing power to be utilized for rendering graphics and training AI, creating a blockchain marketplace for GPU power buyers and sellers.

According to its website, its GPU capabilities "are just a fraction of the cost and are several orders of magnitude faster than centralized GPU clouds."

Render has established partnerships with heavyweight brands. For example, Render's founder, Jules Urbach, owns the cloud rendering company OTOY. The company released a rendering software called OctaneX, which can be used on iPhone and iPad, supported by Render's decentralized GPU mesh.

Fetch.ai

Fetch.ai is another leading AI cryptocurrency by market capitalization. The project enables users to "build, deploy AI agents and profit from them." AI agents are applications that automatically perform tasks using AI algorithms.

Fetch.ai rose 10% today, 67% this week, 93% this month, and 175% this year, with a market capitalization of $995 million and a 24-hour trading volume of $420 million.

Like Render, Fetch.ai is rapidly approaching its ATH. Currently, its price is $1.15, just 2.59% below its peak of $1.19 in September 2021.

According to its website, Fetch.ai allows users to transform their legacy systems into AI-driven agents without changing existing APIs. This achieves a seamless transition between traditional and cutting-edge technologies, helping companies migrate without friction or technical complexity.

The project also enables users to integrate third-party applications such as Skyscanner, Discord, OpenAI, and Slack. Leveraging AI on these platforms can significantly enhance developers' capabilities, allowing them to create innovative solutions that enhance user experiences.

Recently, Fetch.ai announced the public launch of DeltaV, a search-based AI chat interface that can automatically handle end-to-end tasks based on text prompts.

iExec RLC

iExec is a privacy-centric AI project that is making rapid progress. Its website begins with "The web3 market." Its focus is on supporting blockchain builders and trading computing assets while retaining ownership and privacy.

Its valuation is lower than Render or Fetch.ai, with a current market capitalization of $308 million. Meanwhile, its trading volume has reached $182 million, indicating strong investor interest.

Currently, iExec RLC is up 8.55% today, 78% this week, 106% this month, and 114% this year. However, it is still 73% below its ATH of $16.11 in May 2021, leaving significant room for rebound.

Notably, it has been listed on top exchanges such as Coinbase and Binance.

iExec RLC is running a $1 million bounty program for developers to build using its privacy-focused toolkit. One of its tools is a no-code oracle builder that helps developers seamlessly transfer off-chain data to on-chain.

Meanwhile, iExec RLC enables developers to "bypass scalability" through off-chain computing using its software development kit. Its GPU marketplace is another significant feature. This will connect buyers and sellers of computing power, similar to Render. Combined with its developer toolkit, it promotes a circular economy, aiding in widespread adoption and innovation.

IQ

IQ claims to be "the largest blockchain and crypto encyclopedia." The project is a crypto education platform that leverages cutting-edge AI to enhance user experience. Users can delve into crypto assets and related topics. It also offers a product called IQ GPT, a chatbot focused on cryptocurrency, trained on real-time data.

Today, IQ performed exceptionally well, rising 25%. Meanwhile, it increased 45% this week, but only 43% this month, and just 3.91% this year. It has also fallen 89% from its ATH of $0.07 in July 2018.

IQ currently has a market capitalization of $133 million, a 24-hour trading volume of $186 million, and is listed on exchanges such as Binance and OKX.

BrainDAO, IQ's native DAO and financial department, introduced IQ GPT to Telegram and Discord last year, providing accessibility to the chatbot anytime, anywhere.

IQ tokens are used for utility, staking, and governance. They provide holders with opportunities to access new products and enable them to make key decisions about the future trajectory of the ecosystem.

One of the advantages of IQ GPT is the efficiency with which users can gather data. According to its website, identifying specific information from long articles can take a significant amount of time, but IQ GPT can extract it in seconds.