March Hidden Gems: OpenFabric AI

Since the beginning of March, we see a strong bullish sentiment across all crypto markets and many of the alts are printing significant gains, especially in the AI sector, with FET and RNDR leading the trend.

FET is the token of Fetch AI – a project a talked about in great lengths already here on Crypto Corner, so I won’t go into any more details about. Instead, I will give you a lesser known AI project, a hidden gem of sorts, that is yet to make a big splash, and thus, with a lot of upside potential, for those who are searching for great future performance.

The project in focus today is Open Fabric. Token ticker is OFN and is currently ranking 694 according to coinmarketcap.com with an approx. marketcap of $43.7 million (US) which makes is a small cap token and with that comes the potential for a massive growth over the course of the year. Like most AI tokens, it has seen a huge price appreciation since the start of the year, but it’s still holding a lot more upside prospect in my opinion.

Sector: Artificial Intelligence	Token Symbol: OFN
Market Capitalisation: $42.2 M	Status: Active
Supply: Circulating/Total 57 M / 500 M	FDV: $341M

Openfabric is an innovative Layer 1 protocol designed to elevate Artificial Intelligence technology to unprecedented levels. This protocol establishes a pioneering framework for AI-Apps by combining blockchain, advanced cryptography, and cutting-edge infrastructure. Open fabric addresses key challenges AI platforms encounter, enhancing accessibility and usability for users across various expertise levels. By leveraging blockchain technology, Openfabric ensures secure and transparent data storage, fostering scalability and flexibility in AI applications. This approach liberates users from vendor lock-in, empowering them to select AI services that best suit their needs. Openfabric’s user-friendly design enables individuals with limited technical backgrounds to harness the power of AI without complex infrastructure requirements.

Openfabric is distinguished by several core features that underpin its functionality. Decentralization lies at the heart of the protocol, ensuring that no central entity governs the location of data or information processing, thereby enhancing transparency and resilience.

Usability is another crucial aspect of Openfabric, simplifying interactions between end-users and AI systems through intuitive, non-technical interfaces. This accessibility empowers individuals with varying technical expertise to leverage AI capabilities without complex infrastructure, thereby fostering inclusivity and democratizing access to AI technology.

Security is paramount within the Openfabric ecosystem, safeguarding end-user privacy and intellectual property rights. By implementing robust security measures, Openfabric ensures that users can confidently engage with AI technologies without compromising sensitive information. The protocol also incorporates a smart economy framework, facilitating fair transactions between AI service providers and consumers. This built-in exchange medium ensures equitable access to AI services, promoting a competitive and sustainable marketplace. Interoperability is a crucial feature of Openfabric, enabling seamless collaboration between AI agents. Multiple AI systems can cooperate and connect through standardized interfaces, collectively addressing complex problems and delivering more comprehensive solutions.

Investors

There are several well-known brands and corporations among the early backers of Openfabric. Among them, we see names like Gate.io, Autonomy Capital and Kangaroo Capital among other notable venture capital investors.
And as for partners, there are already more than 60 of them, including Deep Square, Random Network, ZKSync, 5ire, Carbon and many, many more.

Token

The $OFN token functions as the native digital currency within the Openfabric network, assuming a pivotal role in incentivizing responsible network behavior and enabling diverse functionalities. Its significance transcends mere digital currency status, serving as a foundational element empowering users to participate in consensus mechanisms, promoting positive network conduct, and facilitating seamless interactions with a wide spectrum of AI-Apps.

In addition to its utility as a token, the $OFN token assumes a dual role in governance, further highlighting its importance within the ecosystem. With a maximum supply capped at 500 million tokens, the $OFN token stands as a fundamental component of the Openfabric network, underpinning its operations and fostering a resilient and sustainable ecosystem.

Where To Buy/trade OFN

I personally use Kucoin and Bitget exchanges, but I think it’s also available on MEXC. You can find out the list of available exchanges on CoinMarketCap.com

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⚠️ DISCLAIMER ⚠️

The information contained in this video is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this post reflects solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.