Market Metrics

Total Crypto Market Cap: down 5.5% to $2.4T
Total AI Sector Market Cap: down 9% to $19.9B

Top Movers (24hrs):

📈 KWAI (KWAI): up 30.9% to $0.205
📈 PureFi (UFI): up 6.4% to $0.1603
📈 Bostrom (BOOT): up 4.8% to $0.0₇2971

Highlights of the Weekend

👑 Bittensor (TAO) Gets Mainstream Media Attention
Bittensor (TAO), the decentralized AI marketplace, has been making waves in the AI x crypto space, attracting not only significant investments from prominent venture capital firms but also garnering attention from mainstream media outlets. Fortune recently featured an interview with Bittensor founder Jacob Steeves, highlighting the project's unique approach to decentralizing AI and its potential to challenge centralized giants like OpenAI and Google.

The article reveals that notable VC firms such as Polychain, Digital Currency Group, and dao5 have invested hundreds of millions of dollars in Bittensor's native token, TAO. This substantial backing from influential players in the crypto industry underscores the growing interest in projects at the intersection of AI and blockchain technology. Steeves, who previously worked as an engineer at Google, emphasized Bittensor's vision of providing a decentralized alternative to the increasingly centralized power of AI, which he believes could lead to a future where "all of us are just but slaves effectively to these massive companies."

As we covered yesterday, TAO was listed on Tier 1 exchanges Binance and Crypto.com over the weekend, further bolstering liquidity for the tokens and providing easy access to the token for the masses. TAO is now one of the few AI projects focused on decentralized AI that can be bought directly with fiat on exchanges.

➡️ The combination of venture capital backing and mainstream media coverage is a significant indicator of Bittensor becoming the leading project in the AI sector. The significance of Polychain and Digital Currency Group investing hundreds of millions in TAO cannot be understated. Being the most liquid AI token has a number of huge advantages, as large investors and VCs will likely opt to buy the leader of a small sector due to the lack of liquidity in smaller tokens. The coverage of Bittensor by legacy media like Fortune and Yahoo has further exposed Bittensor to a wider audience and validates the project's relevance beyond the crypto community. As the debate surrounding the centralization of AI continues to intensify, projects like Bittensor, which aim to provide decentralized alternatives, are likely to gain further traction.
Related Tickers: TAO

In Other News

🟠 Many AI x crypto teams are gearing up for Token2049 in Dubai, set to run from April 18 - April 19! Expect a ton of announcements and cool releases.

🟠 VIRTUAL staking is live. Stakers must convert their VIRTUAL tokens into xVirtual and stake them on a Virtual AI Agent. Staking reward distribution will start on April 18.

🟠 NIM Network revealed a few technical details and key insights on how the TITANS game leverages Nim Agents

🟠 Inference Labs closed its $2.3M pre-seed funding round, led by Mechanism Capital, DACM, and Delphi Ventures.

🟠 A few founding members at Autonolas are scheduled to hold an X Space to speak on Olas Prediction Agents on April 18 at 4 PM UTC.

Gen AI of the Day

Meme of the Day

💦 Praying for our friends getting liquidated at Token2049.

Exclusive Report: Top 5 AI Cryptocurrencies to Watch 2024

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