GM! Welcome to Chain of Thought, the best research on decentralised AI in the crypto space. You’re in great hands.
In this edition of our weekly AI Edge, we cover:
Chamath shills Bittensor
Zuckerberg announces Llama 3.1 405B
Singularity.NET invests $53M towards AGI
Lots of incentive programs and airdrops
And most recently this…
Releasing Llama 3.1 405B and in great style? What more could we ask for from him?
🦍 State of the Market..
The Crypto x AI market took a hit this week, dropping from $28.6B to $27.1B—a drawdown of ~5%, mirroring the broader sell-off in both crypto and equities.
But here’s the kicker: TAO barely flinched, dipping just 1.1% from last week’s price.
Why? Chamath Palihapitiya name-dropped Bittensor on the All-In Podcast, piquing curiosity and bolstering confidence. Perhaps he already owns a bag of TAO.
I can tell you: nothing beats a billionaire talking about your project on the (arguably) #1 tech podcast with 500K subscribers.
📊 Chart of the Week
Open Source Models Catch Up
This is a killer chart comparing open-source models to their closed-source counterparts.
With the release of Llama-3.1-405B this week, the gap between closed and open-source models is narrowing. It’s a bright future for open-source AI—may it also extend to Crypto x AI. 😁
One caveat: GPT-4 is an outlier, showing that OpenAI is way ahead of its time. It makes me wonder—what will GPT-5 be able to do? Sing nursery rhymes and put your baby to bed?
🏆 Caught Our Eyes..
Source: Grass
SingularityNET (part of ASI) invests $53M towards creating the world’s first AGI supercomputer.
Web3 AI infrastructure firm Network3 raises $5.5M in funding
Aethir provides a post mortem on network bottlenecks from June 28 to June 30
Navy AI commenced TGE on July 23, failed to add liquidity nor airdrop successfully, and plans to relaunch the token again
Autonolas staking proposal went live on July 24
Theoriq recaps a week of new partnerships with Ionet, Assister, and Nosana
Envision partners with Ionet to power Envision’s creator economy
Sharpe AI announces Sharpe Basic Swap, which allows users to get the best prices through smart order routing
Nous Research introduces the Open Reasoning Tasks Project for building training datasets & benchmarks
Delphi Digital’s AI Analyst website automatically analyzes pitch decks and shares them with the team. If you’re a founder who is fundraising, you can submit yours there.
Bittensor
Macrocosmos uses Bittensor subnet 13 to power a 702.1 million row Reddit dataset, the 5th largest on Hugging face
You can soon keep your TAO on your Ledger hardware wallet
Incentive programs and airdrops
Grass launches its desktop node with a 2x multiplier for points. First dibs goes to Giga Buds NFT holders
AO stETH deposits cross $600m
Lumerin Protocol announces its Morpheus AI public testnet is live. They also have a Zealy campaing ongoing.
Raiinmaker announces a free mint for Raiinmaker Awakens NFTs
Zero1 provides an airdrop to Pirate Nation Founder NFT holders
Morpheus rewards staking went live on July 25
Llama Land (fully on-chain world on AO) is open for first 10,000 on the waitlist.
🧠 Open Source Corner
Mark Zuckerberg’s new article outlines why he believes open-source AI is the path forward.
Apple gets into the open-source game, releases its 7B LLM model
Meanwhile, Llama 3.1 breaches the computational limit for posing a systemic risk in the EU.
Multiple folks at major AI labs believe that exponential AI scaling will continue for the next couple of years.
🔥 On X..
Grayscale Research: AI is Coming - Crypto Can Help Make It Right
Only decentralised AI will tell you how to hotwire a car 🤫
Christine Yip on the Latency Problem in Distributed AI Training
IridiumEagle Summarizes the Llama 3.1 paper
Shogan on running an Exolabs local LLM cluster
Alex Cheema running Llama 3.1 405B on 2 MacBooks using Exolabs
The Rise of the Compute Network State: Ensuring Decentralized Control in the Digital Era
Ethan Buchanan on the most important acronyms in crypto
Wei Dai sharing some ELI5 reads on ZK and FHE
Listen to NEAR’s AI office hours X spaces with Schelling AI
That’s it for this week! If you have specific feedback or anything interesting you’d like to share, please just reply to this email. We read everything.
Cheers,
Teng Yan & Joshua
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This newsletter is intended solely for educational purposes and does not constitute financial advice. It is not an endorsement to buy or sell assets or make financial decisions. Always conduct your own research and exercise caution when making investment choices.
