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The Smart Ape 🔥

@the_smart_ape

May 6, 2023 • 22 tweets • 18 min read • Read on X

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When AI meets crypto, a world of opportunities emerges. 🌍

Interested in learning about use cases, opportunities, and challenges in this field? 🔥

Keep reading! 📖

THREAD 🧵

Before investing in any AI project you must understand the challenges and have a global vision

The integration of AI and crypto presents multiple opportunities, which we will explore in this THREAD. However, like all emerging technologies, there are pros and cons to consider

1/

Summary:
🔸Benefits
🔸Challenges
🔸Use cases for #DEFI
🔸Use cases for #NFT
🔸Use cases for #DAO
🔸Conclusion

2/

🔸Benefits
Improve Efficiency: The integration of AI in web3 applications can automate numerous tasks and decision-making processes, resulting in increased efficiency and productivity.

3/

Analytics: The analysis of the extensive on-chain data can be a time-consuming process.
However, by incorporating AI into big data analytics, insights can be generated more efficiently, and unwanted data points can be flagged, resulting in improved accuracy.

4/

Improve Risk Management: AI can help identify red flags and improve risk management processes, from complementing smart contract audits to automating risk monitoring processes in trading.

5/

🔸Challenges
Adoption: Adoption is still very limited to a small group of users. To increase adoption, AI must be applied to real use cases where people would use it without realizing it.

6/

Data privacy: Data privacy is a critical concern in this domain due to the vast amount of data used, especially in terms of usage and security.

Policies for data protection, usage, and security are essential.

7/

Technical: The integration of AI and blockchain technology presents technical challenges that necessitate project teams to have expertise in both areas.

Continued research and development of common standards in these fields will encourage innovation.

8/

@OpenAI

🔸Use cases for DEFI
Smart contract audit: Everyone knows that AI is very good at correcting codes and finding red flags.

AI can help conduct smart contract audits more efficiently and quickly.

Example: chatGPT from @OpenAI

9/

Trade automation: Trading bots existed long before AI, but AI can make these trading bots more efficient. AI facilitates the management of your positions, risk management, profit-taking, etc...

10/

@Fetch_ai

This is the case for trading but it is also possible to do the same thing with farming.
AI can make the search for yields, the management of positions, and the transition from one yield farming protocol to another more efficient…

Example: @Fetch_ai

11/

@oceanprotocol

Predictive Analytics: AI can predict price changes or global trends from on-chain data developments.
This enables you to anticipate market evolution and identify risks and opportunities more quickly.

Example: @oceanprotocol

12/

@BinanceBicasso

🔸Use cases for NFT
Generative Art: Everyone knows that AI can be used to generate images. AI can therefore be used to generate art that can be used by NFT projects.

Example : @BinanceBicasso, @midjourney

13/

@real_alethea

Interactive NFT: AI can be used to develop NFTs and therefore create smart NFTs or interactive NFTs (iNFT).
AI has the potential to enable iNFTs to absorb new metadata, which can shape their future interactions and personalities.

Example: @real_alethea

14/

🔸Use cases for DAO
Improve DAO operations: It is very easy for DAOs to get scattered and waste time on proposals that are not effective or not important. AI enables the DAO to focus on the important tasks defined by their strategic objectives.

Example: chatGPT

15/

@valoryag

Automatic voters: Most holders do not understand DAO proposals and therefore do not vote (centralization risk). AI allows defining automatic voters based on the Holder's needs and global strategy. AI will vote in your place and ensure your interests.

Example : @valoryag

16/

🔸Conclusion
Blockchain is still a young concept, AI is an even younger concept. The two taken separately have incredibly interesting and revolutionary use cases.

Now imagine merging the two? A nuclear bomb!

17/

However, there are still developments and progress to be made but the following promises to be exciting.

DEFI, NFTs, DAOs, … have not yet finished evolving and AI will help them reach the top of what these concepts are capable of offering to users.

18/

@0xFinish

Mention some interesting CTs:
@0xFinish
@Cryptogideon
@ModestusOkoye
@belizardd
@nobrainflip
@zkSync_Labs
@0xUnbased
@cryptocrushmia
@coinwithstereo
@ardizor
@UtilityChad
@Donnadelcrypto
@GiuoNFT
@FarmerTuHao
@ayyyeandy
@dazai_0x

@CryptoShiro_

Tagging these gigachads who's retweets would help engagements
@CryptoShiro_
@rektdiomedes
@Deebs_DeFi
@TheDeFISaint
@DeFi_Made_Here
@CryptoKoryo
@Hercules_Defi
@0xTindorr
@DeFiMinty
@I_am_patrimonio
@Hercules_Defi
@Only1temmy
@wacy_time1
@jake_pahor
@arndxt_xo
@LandfSmile

@CryptoShiro_

@CryptoShiro_ @rektdiomedes @Deebs_DeFi @TheDeFISaint @DeFi_Made_Here @CryptoKoryo @Hercules_Defi @0xTindorr @DeFiMinty @I_am_patrimonio @Only1temmy @wacy_time1 @jake_pahor @arndxt_xo @LandfSmile That's a wrap!

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