November 29, 2024
Missed out on Grass? We cover other upcoming AI token launches
GM!
Trump is back as president, and the crypto markets are cheering.
BTC has hit a new all-time high of $76k. People are euphoric. Crypto AI is cooking, with GRASS surging 4x since October 29th. Could this finally be the bull run we’ve all been waiting for all year? We truly hope so, for the sake of < our bags >.
And if you’re heading to Devcon, have a safe and great trip! We’ll be using this free Tuk-tuk service by Nillion to get between events in style. 😎
Amid the tense election week, we had a good laugh with this tweet
petition for OpenAI to fire and re-hire its CEO today as a calming distraction
— Alex Konrad (@alexrkonrad)
3:14 PM • Nov 5, 2024
In this edition of our weekly AI Edge, we cover:
The Crypto AI sector saw a modest gain of 3.4% this week. GRASS, boy oh boy, stole the show with a massive 145% surge this week. This is a clear signal to us that there is a strong market appetite for fresh Crypto AI protocols with product-market fit. GOAT also had a stellar week, rising 45%.
Among the heavyweights:
• TAO had a strong week, climbing from a low of $405 to $515.
• OLAS continued its upward momentum, rising another 30% to $2.66.
However, not all tokens share the same fortune. LUNA took the biggest hit, dropping 26% to $0.08. After last week’s massive run-up, this correction isn’t too surprising.
One to watch: NEAR. It’s been quietly lagging behind, down 0.6% from last week and trading at $4.19. Unlike some of its Crypto AI peers, NEAR hasn’t captured the same level of attention lately. Could it be due for a catch-up rally? Time will tell.
Bittensor Subnet 48 NextPlace is a subnet dedicated to predicting real estate valuations for property sales.
It’s quickly become a standout example of how surprisingly proficient subnet miners can be in specialized use cases.
The chart above compares predictions from NextPrice and Zestimate (Zillow’s proprietary valuation model).
For a property sale on Thursday, 10/24, NextPlace’s prediction was closer to the actual sale price, with an average error of $4,997 compared to Zestimate’s $13,700.
In the date range analyzed, NextPlace outperformed Zestimate on all but one sale, showcasing the potential of decentralized models to rival, and in some cases exceed, centralized systems in accuracy.
Out of five sales, Zestimate was closer on only one property, while NextPlace nailed the exact price for 2219 Stoney Point in Houston, Texas—a perfect prediction.
What’s remarkable is that Subnet 48 miners are not only competing with but outperforming Zestimate, a model backed by data from hundreds of listers and brokers across the U.S.
As Badenglishtea, founder of NextPlace, noted, this achievement is even more impressive given the short timeline. The subnet launched 6 weeks ago, and its initial models became obsolete within just two weeks—a testament to the miners’ adaptability and skill in refining their models.
The takeaway? Never underestimate the capability of subnet miners. They can excel and push boundaries in specialized domains with the right incentives.
Source: Giga Buds
With Grass stealing the spotlight and showing how new token launches can perform exceptionally well, we wanted to look at a few other recent or upcoming TGEs.
Chasm Network is building a no-code platform to create, deploy and monetise AI agents efficiently and securely.
CAI launched on October 25th and reached an FDV of as high as $247M before falling to $103M (note only 10% of the supply is circulating). CAI is currently trading at $0.10.
Although it hasn’t attracted the same attention as Virtuals or Grass, its node sale sold out in 6 minutes in September. Chasm has partnered with Chromia to leverage Chromia’s verifiable data management capabilities.
Another upcoming token launch is Heurist AI.
They released their whitepaper and roadmap. The TGE is scheduled for Q4 2024, and the token's mining seasons will continue through 2025.
While the token itself isn’t live yet, it’s possible to gain early exposure through their Imaginaries NFT collection.
The Imaginaries NFT collection is allocated 1.75% of the total token supply, which will be fully unlocked at TGE. With 400 NFTs and a floor price of 1.68 ETH, this implies a fully diluted valuation of approximately $94M.
I already talked about @heurist_ai a few times and think it will be a major player in the AI / DePin field, so here is some actionable alpha on their upcoming $HEU token
Hidden in plain sight in their tokenomics page is this
That means there’s already a liquid market for $HEU… x.com/i/web/status/1
— Rafi_0x (@Rafi_0x)
3:09 PM • Nov 5, 2024
One final one: 0G Labs will have their node sale on November 11th for whitelisted members and November 13th for public users. 175,500 nodes in 32 tiers will be available for purchase
Source: Prime Intellect
Project Updates
New Partnerships
Interesting finds
In this week’s deep dive, we looked at DIN, a data intelligence network with 700,000+ daily active users on BSC.
What are these users all doing? 🤔👇
DIN: Data Intelligence Network
Data collection & labelling is big business
www.chainofthought.xyz/p/din-data-intelligence-network
We are still so early
The masses haven't even heard of Claude or Perplexity
Twitter is a bubble
— Dennis (@dkardonsky_)
10:33 PM • Nov 1, 2024
Sama says that AI will create many trillions of new market cap
Sam Altman says AI will create "many trillions of dollars" of market cap and next year will be a big push for OpenAI into next-generation AI system
— Tsarathustra (@tsarnick)
8:19 PM • Nov 4, 2024
David vs Goliath: Smaller AI models can win
New smaller AI model that beats Llama 3.1. The key to make it work is scaling high quality human data (5.5T tokens) using synthetic data (1.5T tokens) Impressive to see synthetic data amplify the value of human data and beat current benchmarks
— Anna Kazlauskas (@anna_kazlauskas)
7:11 PM • Nov 5, 2024
Hyperspace’s multi-agent prediction of the US election had Trump win 6 of the 7 swing states
Two weeks ago this AI analysis tool by Hyperspace predicted Trump would win 6/7 swing states.
He ended up winning 7/7.
Polymarket had Harris in the lead at the same time.
— Varun (@varun_mathur)
6:06 AM • Nov 7, 2024
A deep dive on Farcaster’s Agent Economy
x.com/i/article/1852…
— YB (@yb_effect)
3:28 PM • Nov 2, 2024
Brian Armstrong asks who is building the real-life “Her”. Any takers?
I wonder which company is seriously building the desktop operating system from Her that talks to you and has full access to all your data, running a model locally for privacy (won't work in the cloud I think).
Hopefully Apple has the chops to pull this off - quite a hard… x.com/i/web/status/1…
— Brian Armstrong (@brian_armstrong)
7:07 PM • Nov 4, 2024
Ritual Digest launches a biweekly newsletter focusing on research relevant to Crypto AI. We’re all for this.
Introducing Ritual Research Digest—a biweekly newsletter centered around surfacing research relevant to Crypto x AI.
With hundreds of papers published weekly, staying current with the latest is impossible. We’ll do the reading, so you don’t have to.
— Ritual Digest (@ritualdigest)
8:30 PM • Nov 4, 2024
Understanding California’s latest Gen AI regulation
Did you know that starting Jan 2026, GenAI providers in California will be required to:
-Include clear disclosures in AI-generated content
-Offer free AI detection tools
-Revoke licenses from third parties who remove required disclosures
Read more:
— Sahara AI 🐫 (@SaharaLabsAI)
5:22 AM • Nov 5, 2024
ELI5 covers Spectral AI Agents
Ever heard of AI Agents?
Picture effortlessly bringing them to life, empowering them to execute any trading strategies you wish.
@Spectral_Labs is all you’ll require.
Let's explore! 🧵
— Eli5DeFi (@eli5_defi)
3:01 PM • Nov 5, 2024
The Impact of AI on the 2024 US Presidential Election
How big of an impact did AI play on this year's elections?
From robocall scams to viral deepfakes, AI has become a powerful weapon in political disinformation.
Here's how AI-generated content has shaped the presidential race this year...
— Mira (@Mira_Network)
3:00 PM • Nov 5, 2024
Are open-weight models catching up to closed-weight models?
1/ Are open-weight AI models catching up to closed models?
We did the most in-depth investigation to date on the gaps in performance and compute between open-weight and closed-weight AI models. Here’s what we found:
🧵
— Epoch AI (@EpochAIResearch)
9:17 PM • Nov 4, 2024
New wearable that lets you control your health data
1/ Meet Pulse:
A decentralized + open health network and wearable that empowers you to turn your health data into real value.
Unlike other wearables, which monetize users data for corporate profit, @PulseNoLimits lets you control + benefit from your health data on crypto rails.
— Digitized (@digitizedweekly)
3:02 PM • Nov 5, 2024
That’s it for this week! If you have specific feedback or anything interesting you’d like to share, please just reply to this email. We read everything.
Cheers,
Teng Yan & Joshua
This newsletter is intended solely for educational purposes and does not constitute financial advice. It is not an endorsement to buy or sell assets or make financial decisions. Always conduct your own research and exercise caution when making investment choices.
