Fundraising exceeds 2 billion US dollars, total FDV exceeds 63 billion US dollars, one picture takes you to a panoramic view of 178 crypto AI projects

By Dima Khanarin

Compiled by: TechFlow

The field of crypto and AI is developing rapidly. After Devcon, I put together a map of all known projects to help you better understand the current status of this field.

The map divides projects into three categories:

Apps
Middleware
Infrastructure

Each category contains funding data and information on launched tokens.

1. Applications (31 projects, total financing exceeding US$240 million, 8 tokens launched, total FDV exceeding US$3 billion):

1.1) DeFi Applications

6 projects, with a total financing of US$1 million, and no tokens are currently online.

Including @rug_ai, @RPS_Labs, etc.

1.2) Chatbots

4 projects, 1 token has been launched, with a total FDV of over 10 million US dollars.

For example, @Libertai_DAI, etc.

1.3) Payment Application

6 projects, with financing of US$33 million, and no tokens are currently online.

Representative projects include:

@PaymanAI ($13.8 million);
@trySkyfire ($9.5 million);
@BitteProtocol (raised $7.5 million) and others.

1.4) AI Agents and Influencers

More than 10 projects and 10+ tokens have been launched, with a total FDV of over US$3 billion.

Including TT, ai16z, Zerebro, @centienceio, etc.

1.5) Engineering and Safety

4 projects, 33 million USD in financing, 2 tokens launched, total FDV exceeds 200 million USD.

For example:

@Chain_GPT ($CGPT, FDV $120 million);
@FortaNetwork ($FORT, FDV $100 million);
@MetaTrustLabs (raised $10 million) and others.

1.6) Consumer Applications

6 projects, 12 million USD in financing, 2 tokens launched, total FDV exceeds 100 million USD.

include:

@aiarena_ ($NRN, FDV $80 million);
@bottoproject ($BOTTO, FDV $60 million) etc.

1.7) Smart Tools

4 projects, raised $163 million, 2 tokens launched, with a total FDV of over $2 billion.

Examples include Arkham Intel ($ARKM, FDV $2 billion), Kaito, Dune, and Messari.

2. Middleware (106 projects, total financing of over $800 million, 25 tokens launched, total FDV over $18 billion):

2.1) Training and collaboration

16 projects, 120 million USD in financing, 4 tokens launched, with a total FDV exceeding 10 billion USD.

Including the well-known Bittensor and Sentient, as well as @assisterr, @Pluralis__, etc.

The tradable tokens include:

@Dither_Solana ($DITH, $10m FDV);
@hyper_tensor ($TENSOR, FDV $25 million);
@communeaidotorg ($COMAI, FDV $200 million).

2.2) Inference Service

17 projects, 57 million USD in financing, 2 tokens launched, total FDV exceeds 50 million USD.

For example:

Allora Network ($35 million);
@OpenGradient ($8.5 million);
@hyperbolic_labs ($7 million raised)
And smaller teams like @openex_network ($OEX, FDV $45m).

2.3) Data Platform and Monetization

23 projects, with financing of US$240 million, 7 tokens have been launched, and the total FDV exceeds US$1 billion.

There are many well-funded protocols:

Story Protocol (raised $134.3 million);
Space and Time (raised $50 million);
@SaharaLabsAI (raised $43 million);
Ocean Protocol ($OCEAN, $500 million FDV);
Vana (raised $25 million);
Hivemapper ($HONEY, $500M FDV).

2.4) Privacy Protection

14 projects, with $250 million in financing, 2 tokens launched, and a total FDV of over $800 million.

For example:

Zama ($82.3 million);
Oasis Protocol ($ROSE, FDV $800 million) and others.

2.5) Intelligent Agent Platform

24 projects, with financing of US$175 million, 6 tokens have been launched, and the total FDV exceeds US$6.5 billion.

include:

Fetch AI ($FET, FDV $3.5 billion);
@Spectral_Labs ($SPEC, FDV $1 billion);
@virtuals_io ($VIRTUAL, FDV $450 million);
@autonolas ($OLAS, FDV $850 million);
@MorpheusAIs ($MOR, FDV $800 million).

2.6) Research

3 projects, 5 million USD in financing, no tokens are currently online.

These projects focus on cutting-edge research in AI and blockchain, and representative teams include @NousResearch, @physynAI, and @peri_labs.

2.7) Data collection and annotation

9 projects, raised US$30 million, launched 1 token, with a total FDV of over US$120 million.

Representative projects include:

@getmasafi ($MASA, FDV $126 million);
@din_lol_ ($8 million in funding) ;
@KivaAi ($7 million raised).

3. Infrastructure (41 projects, total financing exceeding $1 billion, 24 tokens launched, total fully diluted valuation (FDV) exceeding $42 billion)

3.1) Compute resources

22 projects, with financing of US$212 million, 14 tokens have been launched, and the total FDV exceeds US$11 billion.

Representative projects include:

Gensyn ($50 million in financing);
Render ($RENDER, FDV $4 billion);
@HiveDistributed ($13 million);
@PhalaNetwork ($PHA, FDV $125 million);
Aethir ($ATH, FDV $2.6 billion);
@fluence_project ($FLT, FDV $250 million);
@SpheronFDN ($7 million);
@akashnet ($AKT, FDV $1 billion);
@nosana_ai ($NOS, $33 million FDV);
@Neura_io ($ANKR, FDV $34.2 million);
@RunOnFlux ($FLUX, FDV $25 million) etc.

3.2) AI Chains

10 projects, with financing of US$357 million, 4 tokens have been launched, and the total FDV exceeds US$9 billion.

Representative projects include:

@OG_network ($325 million);
Autonomys ($33 million);
io.net ($IO, FDV $1.8 billion);
@golemproject ($GLM, FDV $370 million);
Ora ($ORAI, FDV $120 million).

3.3) Data Storage

8 projects, with financing of US$374 million, 5 tokens have been launched, and the total FDV exceeds US$10 billion.

Representative projects include:

GenesysGk ($43 million in financing);
@storj ($STORJ, FDV $210 million);
Ceramic Network ($30 million);
@Rivalz_AI ($11 million;
@AIOZNetwork ($AIOZ, FDV $900 million);
@ArweaveEco ($AR, FDV $1.2 billion).

3.4) Proof of Humanity

This category is represented by WorldCoin, which raised $115 million, with a token of $WLD and a total FDV of $22 billion.

Why am I undertaking this massive analysis?

My original intention was to help venture capitalists (VCs) and crypto enthusiasts discover potential hot tokens, and also to deconstruct the current market craze:

Is there enough funding in this area?
Is there strong protocol support for each category?
Apart from AI concept coins, is there any real market appeal?

Judging from the current situation, the answer is basically no:

Funding remains inadequate — $2 billion is a pittance for a rapidly growing field.
When it comes to AI stack development, it’s very difficult to compete with centralized labs.
The market appeal of most projects remains at the speculative stage, and mature applications have yet to emerge.

Currently, funding is focused primarily on infrastructure and middleware — but this will change as the ecosystem develops.

I agree with a16z's view: in the next few years, value will gradually shift to the application layer.

Finally, the entire Crypto x AI economy will be cross-chain and powered by @EverclearOrg.