AI coins jump ahead of latest Nvidia earnings

The Street Crypto
The Street Crypto
ICP-1.77%
FET-4.26%
NEAR-2.93%
THETA-2.76%
GRT-3.21%
IP-2.67%

Crypto coins linked to decentralized artificial intelligence (AI) projects rose ahead of the AI-focused chipmaking giant Nvidia (Nasdaq: NVDA) posting its second-quarter earnings report on Aug. 27.

In simple words, decentralized AI refers to AI systems that operate across a distributed blockchain network, rather than being controlled by a single centralized entity like Google or OpenAI. The financial transactions of these projects are paid in crypto assets.

AI coins gain

TAO, the AI coin behind the open-source protocol Bittensor powering the decentralized machine learning network, rose 0.8% in an hour to reach $338.98.

The NEAR coin, which powers the AI-native NEAR Protocol, rose 0.7% to $2.55.

ICP is another prominent AI coin that empowers the Internet Computer blockchain to be leveraged to build both Web 2.0 and Web 3.0 platforms. The coin rose 0.4% to $5.09.

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