After listing a series of SocialFi tokens such as Hooked Protocol, Open Campus, Space ID,…, Binance has recently listed a number of AI projects such as Arkham and the blockbuster Worldcoin. So everyone, let’s find out what Binance is ambitious about in the AI field in the article below.
To better understand this article, people can refer to some of the documents below:
- What is Arkham (ARKM)? Arkham Cryptocurrency Overview
- What to See When Binance All-In on SocialFi
- What is SocialFi? TOP 5 Most Outstanding SocialFi Projects Currently
- What is DeSocial? Growth Potential of Decentralized Social Networks
Signs That Binance Pays Attention To AI
Looking at a broader picture, AI really created a stir around the world when ChatGPT was born and people started using it. The application of AI to life can be said to be faster than any other technology has ever done. You can easily find some tutorials on Google like:
- Use ChatGPT to rewrite a completely new article based on existing content.
- Use AI to make Short Videos to post on Youtube Short, Tik Tok,…
- Use ChatGPT to create business plans, work plans, personal branding plans, communication channels,…
At the time when AI exploded in life in all aspects, Crypto began to be more or less affected, projects labeled AI gradually appeared, but because the general market trend was a downward trend, projects There is no strong growth. But somewhere there are Crypto projects started or under construction that are integrating AI which is happening.
Recently, we have seen the first signs that Binance in general, including Binance exchanges, Binance Labs or Binance Research, are paying special attention to certain industries such as SocialFi, Real World Assets (RWA). , Layer 2 and also AI. The two most recent projects launched on Binance, Arkham and Worldcoin, are both more or less related to AI.
Not only that, Binance Labs is and has invested in a number of AI projects. So let’s find out what projects Binance is interested in? How do those projects use AI technology?
Projects Closely Followed by Binance
Arkham: The combination of SocialFi and AI
Arkham is a platform that helps users track activities on Blockchain, also known as On-chain. Users can track any actions of a certain wallet address such as buying and selling, transferring money, staking, swapping, lending, borrowing,… Arkham is a project that perfectly combines Social trends. and Ai technology. The Social trend is shown in the fact that users can buy and sell information on-chain.
- Step 1: Person A posts the information to buy and the amount of money to spend.
- Step 2: If person B also needs the same information, then put the same amount of money into the pool as person A.
- Step 3: A developer sees a “fragrant bet” and immediately finds the information that people A and B need and then sends it to Arkham.
- Step 4: Arkham has a team to determine the information. If the information is correct, that information will be sent to people A, B and developers to receive rewards.
This is Arkham’s Social feature. In fact, it has only just been deployed, but there have been many rewards given for finding information such as the wallet address of a large investment fund or the wallet address of Do Kwon – CEO of Terra. Obviously, this model is attracting quite active community participation.
Besides Social, we also do not ignore the AI technology that Arkham uses on its protocol. In order for Arkham to have such a huge source of information, it is impossible not to mention the core technology called ULTRA. ULTRA is a special AI technology developed by the Arkham team in conjunction with the Palantir team and especially Open AI – an extremely famous AI project recently.
There are 3 major challenges in developing Arkham including:
- Collection: Identify relevant on-chain and off-chain data sources. Collect this data reliably and continuously.
- Aggregation: Combine this data into a single source of information that can be queried to produce any information desired.
- Attribution: Use this data to assign real-world identities to addresses.
To solve these problems, Arkham developed ULTRA. ULTRA is a proprietary artificial intelligence (AI) system for blockchain data aggregation, aggregating on-chain and off-chain data from multiple sources, then synthesizing them into a single, open source of information. Wide and adjustable. ULTRA allows Arkham to transform raw blockchain transaction information into a clear view of the entities using cryptocurrencies and their activities, including exchanges, trading companies, and individuals.
Currently, the Arkham platform contains more than 350 million labels and 200,000 entity pages. At the core of the Arkham platform is the Analyzer. The analytics suite is a comprehensive view of an entity or site’s activity, including Portfolio, PNL, Transaction History, Labeling,…
It can be said that in order to build and organize a huge information source for Arkham today and will be even larger in the future, the role of ULTRA is undeniable.
Worldcoin: The project was valued at tens of billions of dollars when it first listed on Binance
Worldcoin was developed based on the success of the Internet, Gmail, Social Networking Sites,… the more people participate, the stronger the network becomes. Each participant is just an exponential, adding up the scale of network expansion is the exponential. Worldcoin’s model is relatively simple as follows:
- Step 1: User purchases Worldcoin ORB device.
- Step 2: Scan your iris with ORB to verify you are a real person.
- Step 3: Every week users will receive a reward of Worldcoin.
Unlike Web2 tools, Worldcoin is built on Blockchain, bringing fairness, transparency and decentralization to everyone involved. Worldcoin itself does not directly use AI technology, but since the Founder of OpenAI is also the Founder of Worldcoin, we can fully hope that in the future when it is necessary to verify billions of people, ORB will be integrated. Integrate AI to identify humans and differentiate AI. Minh believes that it’s just a matter of sooner or later.
Information about users will still have to be sorted and stored, so applying AI technology to Worldcoin is absolutely necessary.
Liveart: NFT project incorporating AI technology
LiveArt is an NFT project with many diverse products. LiveArt products include:
- LiveArt Analytics: A suite of tools providing data and information about the Crypto market. Currently, LiveArt is using AI technology to analyze NFT collections to help users have an overview of the NFTs they own.
- LiveArt Trading Floor: Is an NFT Marketplace that allows many types of trading activities around NFTs.
- LiveArt NFT: Is a product that helps artists, brands or most simply users, deploy an NFT collection simply, effectively and smoothly. LiveArt NFT includes a number of elements such as Smartcontract, API, SDK, UI UX,…
With so much information and data in the market, it is extremely necessary to need a tool to be able to extract insights and information from that news and data. In a context where information becomes too much, applying AI is considered a remarkable solution. Thanks to AI, anyone can access it, not limited to people in the industry, developers,…
One thing to note is that LiveArt Analytics is being used by over 100,000 users who own various NFT collections. Clearly, AI has made differences, small but worth paying attention to. To better understand what effects AI has on LiveArt, people can refer to the article below.
So why is LiveArt related to Binance? Quite simply, Binance Labs invested in LiveArt in the latest capital raising round.
Privasea: A privacy project incorporating AI technology
Privasea AI Network is a one-stop system designed to prioritize privacy and data security in Artificial Intelligence (AI) computing. Privasea uses advanced technology called Fully Homomorphic Encryption – FHE, which allows calculations to be performed on encrypted data, producing exactly the same results as calculations on unencrypted data. By leveraging this approach, Privasea enables multi-party collaborative AI processing that ensures the security of sensitive information.
Privasea includes 4 structures HESea Library, Privasea API, Privanetix and Privasea Smart Contract Kit. We will not go into detail about Privasea’s operating mechanism in this article.
Privasea has become one of the winning projects in Binance’s MVB program and has also been officially invested by Binance.
Xterio: Gaming project combining AI technology
Xterio is a Game Studio that specializes in publishing games. Some games are already in the research process and users can register to experience them early, such as Inception and Abyss World. Blocklords, Metacene, Puffverse, Riverelysium, Legend of Genesis, Age of Dino,…
On July 13, 2023, Xterio successfully raised $15M from Binance Labs. With this money, Sterio will use it for two purposes related to AI technology including:
- Expand and improve the quality of AI being used by Xterio. develop AI-powered interactive experiences and solve AI problems on Web3.
- Build a toolkit with AI at the core to build and develop high-quality 2D and 3D content.
With AI technology, Sterio brings a great experience to any game in its ecosystem.
Web3Go: Infrastructure project incorporating AI
Web3Go allows users to use on-chain & off-chain data, Knowledge Databases and artificial intelligence (AI) technology to build their own products such as trading strategies, Bot Trading or related products. related to industries such as Entertainment, Education and Society. Blockchain technology will be used to verify the owners of assets without the need for a third party.
It can be said that AI plays an important role in Web3Go helping its users create diverse products. Currently, the database, both on-chain and off-chain, is too large and without the support of AI, it will be very difficult for an ordinary user to create a viral product when launched to the public. copper.
On July 5, 2023, after becoming one of the winning projects in the MVB 5 Accelerator program organized by Binance, Web3Go immediately successfully called for $3M from many large investment funds including there is Binance Labs. This proves Binance Labs’ interest in projects that integrate artificial intelligence (AI) technology.
Some Comments on Projects
Most of the above projects apply AI technology more or less. In my opinion, the projects use AI for the main purpose of synthesizing, arranging and selecting information. In the context of more and more information in the world as the Internet and Social Networks become more and more popular, it is clear that we need a technology that can distinguish and filter such information, clearly AI is a solution. useful method.
We cannot deny that AI is entering every corner of life. And it is understandable that AI is penetrating deeper and deeper into the Crypto market. The current Blockchain context is similar to life, there is too much information on the chain that needs to be observed, sorted, verified and then used, the work of AI can also be similar to in Blockchain.
Not only that, today not only on chain and off chain, AI is also involved in more processes, such as an NFT project that used AI to draw all of its NFTs. Who knows, in the future AI can build its own DeFi protocols on the Blockchain network?
Summary
Besides areas such as DeSocial, LSDfi, Layer 2, it seems that Binance Labs is paying special attention to the AI segment. Can AI become a new trend in the upcoming growth cycle of the crypto market?
