November 29, 2024
This Crypto Can Turn AI Dominators into Customers
Dear Subscriber,
| Editor’s Note: Dr. Bruce Ng released this piece about Project X, an exciting new DePIN project, earlier this week. It’s done well for his New Crypto Wonders members so far, and he didn’t want you to miss it in all the hustle and bustle of this week. And he definitely doesn’t want you to miss out the exclusive opportunity he writes about beyond Project X. It’s one that aims to make the most out of this hypercharged bull market. But I’ll let Dr. Bruce explain it ... |
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| By Bruce Ng |
There’s a new coin that is bound to revolutionize the AI industry.
Juan Villaverde and I recently revealed it to our New Crypto Wonders Members just last week. If they followed our lead, congratulations to them! We already track a solid 31% open gain.
Naturally, I won’t say the name of this coin just yet. So, I’ll call it Project X for now.
But even without knowing this coin’s name, you’ll want to learn as much as you can about it.
Project X has taken a page out of Airbnb and Uber’s book. But rather than renters or riders, Project X creates a decentralized marketplace for data.
And in doing so, it will become fundamental to the continued growth and operation of AI.
Why? Because AI companies are struggling to train their large language models (LLMs) — things like OpenAI’s ChatGPT and Google’s Gemini.
AI needs data to function. And LLMs, in particular, need A LOT of data to provide human-like responses.
Remember, at this stage of AI, models are only as good as the data they’re trained on. The more data, the better the AI can respond.
But AI giants run into problems when acquiring data from the public domain on the internet for two key reasons.
- Data consumed through API endpoints are throttled and costly.
- Data obtained through just a single IP address is limited. They’d have to duplicate IP addresses to consume more data. This adds further costs to those AI behemoths.
Just take a look at this budget breakdown for OpenAI from 2023:
Generative API is the largest single expense at 65%. And that’s an ongoing … and growing … cost.
Until Project X.
Its groundbreaking technology fixes the two problems mentioned above by taking a “crypto” approach to this problem.
Think of it like an Airbnb, but for idle internet bandwidth. People sign up to donate their idle bandwidth to Project X in exchange for a small reward.
This bandwidth is then used to scrape data all over the internet and establish a transparent data marketplace preserved on the blockchain.
Anyone who wants to access that data pays a fee — one more affordable than if they paid to collect all this data on their own.
It’s pretty groundbreaking stuff! And it has the potential to be a lucrative opportunity for four key reasons:
Reason 1: Project X can rival industry giants like Google and Microsoft
Thanks to its use of blockchain technology and its decentralized infrastructure, Project X can collect data more efficiently and cheaply than its big-foot competitors.
And, since the data it receives from suppliers — like you and me — is unrestricted, its data set will be better able to avoid biases.
Not only that, but its decentralized infrastructure means Project X can have many IP identities. That will help it avoid data download limitations, something that AI giants struggle with.
Reason 2: Project X can turn big AI competitors into customers.
As I mentioned, sourcing data for LLMs can get expensive. Fortunately, accessing Project X’s data marketplace is much cheaper than the alternatives.
Project X still has a bit to grow before it can fulfil the needs of AI giants like OpenAI. But as more people loan their idle bandwidth, Project X’s capability will grow.
Once that happens, it can turn its competition into prized customers.
Reason 3: Users are incentivized to participate in its network.
Anyone in the world can download the Project X software and put their idle internet bandwidth to work. And, in return, you earn crypto tokens as a payment.
This incentivizes more people to join the network and contribute to the collective data generation of Project X. Which in turn increases the speed at which data is collected. Which in turn makes it more desirable to LLM companies like OpenAI and Google.
And that brings us to …
Reason 4: Project X has the potential to 10x
Currently, Project X has a market cap just under $1 billion.
I believe it can hit $10 billion. And that’s a conservative estimate when you consider the addressable market is gigantic.
AI is a trillion-dollar industry. And the folks over at Statista believe it’ll grow at a compound annual growth rate of about 28% by 2030.
As I mentioned earlier, I’ve already shared this exciting new project with my New Crypto Wonders members. That’s because our entire strategy revolves around finding the small-cap cryptos that have the most growth potential each cycle.
We’ve already nabbed some nice, triple-digit gains over the past two weeks. We’re looking forward to even more as this bull rally continues. From Project X and others we have in our model portfolio.
And here’s the best part: It is not too late to get in.
Earlier today, my colleague and co-editor Juan Villaverde sat down with Weiss Ratings founder Dr. Martin Weiss to break down …
- Our New Crypto Wonders strategy, and how we use it to find the small-cap wonders with the most growth potential.
- The new phase of this crypto bull market, which we’re calling a crypto Superboom. That’s because the coming months have the potential to take crypto to new heights, according to Juan’s cycles analysis.
They recorded their conversation, so you can watch it in full here.
And as a bonus, Juan even reveals a special Black Friday opportunity you won’t get anywhere else. Trust me, you don’t want to miss it.
Best,
Dr. Bruce Ng
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