AI x Crypto: What's Next After the Market Correction?

AI tokens have dominated the market and mindshare over the past year, leading many to believe that this is the AI x Crypto cycle. However, in recent months, AI tokens have been on a downward trend, with many down 25-50% from their local highs.

AI tokens have had a rough couple of months in the market. After a stellar run-up, sparked by the launch of ChatGPT and other generative AI models, most AI tokens have corrected 25-50% from their local highs.

However, this isn't necessarily a major cause for concern. In fact, corrections are a rite of passage during crypto bull markets. A pullback after a significant run-up is actually considered healthy for long-term performance, as it shakes out weak hands and sets the stage for the next phase of the cycle.

The real question is: what's next? What upcoming developments in the top AI x Crypto projects could reignite the fire? Let’s find out!

🔴 Render x Apple

At this year's WWDC, Apple introduced Apple Intelligence, their new AI functionality suite for all devices. No surprise there; every big tech giant is jumping on the AI bandwagon. The real head-turner was the showcase of OctaneX, a 3D design software powered by the Render Network, on the latest iPad Pro.

OctaneX on the iPad can use decentralized GPUs from the Render Network. Millions of Apple users will now have access to unprecedented rendering power. Imagine creating Hollywood-grade CGI on your iPad - that's the kind of access Render and Apple are enabling.

The Apple integration is a major win for Render. It’s a validation stamp for Render's tech and vision. Apple is basically saying, "Hey, this Render Network stuff is legit!" This could attract a whole new wave of developers and creators to the platform, further fueling the network.

As new Apple software hits the market later this year, it could be a big catalyst for Render as it will unlock a massive new user base for the network. And here's the cherry on top: more users using OctaneX means more demand for Render's services and more value for the RNDR token. We already saw a price pump on the news; it could be a hint of things to come, so keep an eye on Render.

⚫️ Subnet Tokens on Bittensor

One of the major criticisms of Bittensor is that a small group of validators currently decides how TAO rewards are distributed across subnets. The BIT1 proposal, also known as Dynamic TAO, fixes this.

Dynamic TAO is one of the most anticipated proposals in Bittensor's history, second only to the launch of subnets last year. It brings fundamental changes to the network.

Currently, validators decide how TAO rewards are distributed across subnets. With Dynamic TAO, each subnet will have its own token, and subnet members will decide how to use the subnet's TAO. This will create a living market for subnet compute resources.

Dynamic TAO is live for testing now with a full launch expected soon. The introduction of crypto-incentives at the subnet-level could be a big catalyst for Bittensor. This is a major step forward for Bittensor, giving both token holders and subnets a real voice in shaping the future of decentralized AI.

🟢 User-Owned AI on NEAR

Forget the memes about NVIDIA’s founder touching NEAR's founder on the arm, NEAR recently announced the next stage of their roadmap: enabling NEAR to become the home for user-owned AI.

This isn't just hype. The NEAR Foundation is putting its money where its mouth is. They’re building a dedicated research lab (NEAR.AI) and attracting top AI talent to develop AI x crypto apps, plus an incubator and investment wing focusing on AI projects.

They’re also building the infrastructure for developers to build user-driven AI apps, such as tools for data collection, rewarding creators, and monetization while bringing crypto’s values to AI.

With its history, backing, and expert team, the NEAR ecosystem is set to become the de facto home of AI and Web3.

NEAR's focus on "User-Owned AI" could be a big catalyst for the project going forward. The team believes that their existing user base, developer ecosystem, and funding can make them a leader in user-owned AI.

Closing Thoughts

While recent market corrections may have dampened some spirits, there’s still life in the AI x crypto space. Look at these three projects: Render, Bittensor, and NEAR. Each is tackling a specific problem, and as they execute on their roadmap, things will get exciting again.

And these are just a few examples. There's a whole ecosystem of interesting projects emerging at this intersection, all building useful products.

Plus, there are external factors to consider. OpenAI could have a breakthrough any day. Nvidia's revenue is through the roof. Every time a major player makes a move in AI, it ripples through the entire space.

The question isn't whether AI and crypto will be big. It's how big