Unveiling 'Web3 and Artificial Intelligence: The State of Play' - A Deep Dive into Web3+AI by the TenSquared Research Team. The 30-page report illuminates the dynamic growth and current landscape of the Web3+AI ecosystem, viewed through the prism of blockchain technology and the progress of Web3 companies.
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As the technologies advance, blockchain+AI could complement and elevate each other, resulting in a more diverse and enriched technological landscape.
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The research and development activity in the blockchain+AI field has been consistently rising over the last five years and resulted in 6.9k blockchain+AI -related GitHub repositories and 539k GitHub pull requests, 1.5k filed patents, and 5.6k research publications as of December 31, 2023.1
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The market sentiment has been optimistic about the growth potential of AI on-chain. The market capitalization of the top 15 AI-related tokens reached $12Bn in 2023 and showed an impressive growth of 443% in 2023 compared to 108% for the total crypto market capitalization.2
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There is a wave of new startups working at the intersection of blockchain+AI and developing code writing tools, decentralized data storage, compute infrastructure for AI, content authenticity, privacy, and AI-enabled Web3 security solutions. The VC funding of the blockchain+AI startups exceeded $0.6Bn in 2023.3
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Besides driving the formation of new startups, AI technology could significantly affect existing digital asset companies by helping them to optimize expenses, increase revenues, and build moats.
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At TenSquared, we look for great companies that have demonstrated product-market fit and are addressing real pain points at the intersection of blockchain and AI. We are looking beyond the hype to find ways that these technologies can transform the future of businesses and our lives and have exponential outcomes.
1) - GitHub, World Intellectual Property Organization, Dimensions.ai
2) - CoinGecko, as of December 31, 2023
3) - Pitchbook
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This report is a product of the TenSquared Capital (10SQ) research team.
TenSquared is a growth equity firm focused on Inflection Point Investing where Web3 companies transform into future technology leaders.
Important Disclosures
This publication is an informational document only and is intended to provide educational content and general market commentary, and should NOT be relied upon as legal, business, investment, or tax advice. Furthermore, the content is not directed at nor intended for use by any investors or prospective investors in any TenSquared Capital LLC (“10SQ”) managed funds. Please visit tensquared.com/disclosures.html for additional important details and disclosures, including link to list of investments.