From China, Europe, and Africa to the United States, it is clear that artificial intelligence (AI) is undoubtedly one of the most transformative technologies of the 21st century.
So massive is the industry that various studies predict the technology to power multi-billion dollar companies from finance to healthcare and manufacturing.
The capabilities of AI are now being integrated into blockchain, and some companies are now fusing them into their operations. InQubeta (QUBE), an Ethereum-based platform, aims to create a portal through which crypto AI startups can connect with willing investors trustlessly.
Many investors and analysts are now comparing InQubeta with Ethereum, the first smart contract platform. The question is: Is this true? And does InQubeta bear all the necessary attributes to compete with Ethereum and shave market share?
The following content does not constitute the opinion of BeInCrypto and should not be construed as financial advice
InQubeta is building its solution on Ethereum and aims to create a decentralized platform where crypto startups using AI can raise funds.
Presently, there is no dedicated portal where crypto startups facilitating the expansion of AI can raise funds from the broader community. They have to use traditional methods, including ICOs, to raise funds while competing with other projects, rolling out solutions in, for example, decentralized finance (DeFi), gaming, and more.
Through InQubeta, founders will get access to funds where they can create and deploy solutions using AI. To access funds, vetted startups convert opportunities into non-fungible tokens (NFTs), then listed on the marketplace. Herein, users can trade them using QUBE, the deflationary token complying with the ERC-20 standard.
QUBE is central to InQubeta, and in the ongoing presale, the token is available for 0.0161 USDT. In stage five, the protocol has raised over $4.6 million.
Are There Any Similarities With Ethereum?
Ethereum is the most active smart contract platform by market cap and by total value locked (TVL), say in DeFi. According to CoinMarketCap, on Nov. 10, ETH had a market cap of over $251 billion, with each coin trading above $2,000. Meanwhile, according to DefiLlama, Ethereum DeFi protocols cumulatively managed over $25 billion worth of assets.
Yet, despite the disparity in market cap and other key metrics, some analysts believe QUBE can follow the same trend as ETH has been doing since the platform launched in 2015. There are a few reasons for drawing these comparisons:
Both offer a platform for project founders and startups to create solutions that leverage new technology. In Ethereum, creators can roll out protocols using smart contracts. Meanwhile, crowdfunding on InQubeta leverages both smart contracts and AI.
InQubeta, like Ethereum, can disrupt the blockchain and AI. Already, Ethereum is powering DeFi, disrupting traditional finance. On the other hand, InQubeta could drive the adoption and acceptance of AI-driven solutions. While at it, like in Ethereum, InQubeta provides an opportunity for investors to gain exposure to crypto AI startups.
InQubeta and Ethereum have active communities. The support of QUBE in the ongoing presale confirms its popularity in crypto and beyond.
What Does This Mean For Investors?
InQubeta is still being developed, and it is early to determine whether it can be as successful as Ethereum.
Overall, investors of ETH or QUBE should do their due diligence before proceeding.
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