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BlockAI ($BAI)

General Characteristics

BlockAI ($BAI) is a crypto project that blends artificial intelligence (AI) with smart contract functionalities. The platform supports three blockchain protocols - Base, BNB Chain, and Waves. BlockAI aims to utilize blockchain technology to address the downsides of AI-focused platforms that offer AI models and toolsets to users. Today, AI-focused platforms like OpenAI and Midjourney require users to submit personal information and pay recurring subscription fees. This makes accessing cutting-edge technology difficult for average users and small businesses. There is also concern about data security and ownership as these platforms store results in a centralized location. BlockAI seeks to fix these by eradicating user registration and subscription fees, making AI more accessible to everyone. Integrating smart contracts into AI is at the heart of BlockAI’s services. The project breathes intelligence into smart contracts through a callback feature. This way, smart contracts can commission AI tasks capable of resolving issues. The smart contract is notified once these problems are settled, enabling it to utilize the new information. According to its whitepaper, BlockAI offers diverse applications in areas like YouTube summarization, brainstorming tools, image-generating AI tools, and community-driven development. It also unlocks access to the OpenAI API and large language models (LLMs).

Roadmap

A detailed roadmap guides BlockAI and its ecosystem. Here’s a breakdown of the planned items the project aims to achieve: For 2024: For Q4 2024 to Early 2025: NOTE: The “R&D” label indicates that the project’s team possesses a relatively clear concept and vision for these features. However, they must first undergo thorough research, conduct testing, and develop a Minimum Viable Product (MVP) before evolving into final products. R&D label means it is still in the research and development phase but pushing it to final product/deployment would depend on this research, some may not push through if the research brings up more cons than pros.

Functionality and Utility

$BAI is the project’s native token, serving as its lifeblood. Users can use $BAI to pay for services within the ecosystem. Community members can also receive $BAI rewards for performing specific tasks within the ecosystem. Unlike most platforms that give token holders governance rights, BlockAI enables active users to partake in governance processes within the BAI DAO. Their activeness puts them in a better position to contribute valuable insights to grow the project.

Market Performance and Dynamics

They are already live with 570 000 $BAI in circulation, you can follow the token distribution live here. They are also available on MEXC. As well as pancake, uniswap and puzzle even though the AMM have low liquidity at the moment.

Community

BlockAI boasts over 7.1K followers on X and 1.4K+ members on Telegram. It also has a social presence on platforms like Reddit and LinkedIn.

Pros

6 Questions to the BlockAI Team

1)What inspired the creation of Project BAI, and how do you envision it transforming the current landscape of AI tools by integrating blockchain technology? Marc and I, the two Co-Founders, have been active developers in the Blockchain community since the early days and have built multiple web3 tools and dApps. In early 2023, Marc approached me with the idea of building a platform that combines Blockchain and AI. As a Professor at the University of Applied Sciences, Marc has extensive knowledge of AI, so I was very interested in building this with him. We first built a small MVP, which helped us secure our initial funding from the Power DAO in July 2023. In September 2023, we registered the company BlockAI Limited, and since then, we have been constantly building. Our private and public sales occurred in March and May 2024, respectively, and our MVP is now live on the mainnets of three different blockchains: BNB, Base, and Waves. With BAI, we envision providing access to AI tools through two different scopes. One is more B2C-oriented, accessible through the web UI (e.g., bnb.blockai.dev), where anyone can use all the features with their blockchain account and the $BAI token, without the need for any monthly recurring subscription or a credit/debit card. You only pay per use without limitations and have access to multiple models and features in one place. Additionally, we offer small services on top of existing AI API’s. We have currently implemented a YouTube summarizer, a discussion tool (in which two AI agents discuss a certain topic) and a brainstorming tool. We will add additional services in the future, e.g., an AI agent based decision support system is currently under R&D by our development team. On the other hand, the B2B approach, through our Callback system, allows any smart contract on any supported chain to request an AI task and receive the result, all on-chain. This is a very innovative development in the current blockchain space, as we are not aware of anyone else offering such a service. 2)Can you explain the "callback" feature in Smart Contracts? How do you envision this transforming the interaction between AI and blockchain, and what potential use cases do you see for this innovation? The Callback feature is essentially a BAI smart contract deployed on each supported blockchain. Through this contract, any other smart contract can send a request, such as asking a question to ChatGPT, and then receive the response directly on the smart contract via the provided callback once our off-chain agent processes the request. This unique and innovative approach opens up a wide range of possibilities for DeFi, supply chain management, gaming, and more. For example, we created a Tic-Tac-Toe game where you can play against an AI through a smart contract using the Callback system. Our Tic-Tac-Toe Blockchain and AI demo, currently available only on Waves We could also imagine a marketplace, project, or game that generates an image to associate with an NFT by requesting BAI to create it through any of the supported image generation models (DALL-E 3, Stable Diffusion 3, etc.) and receiving it in return to associate with the player/user or even sell it as an NFT. A Web3 game could generate lore, images, and more directly from the smart contract as well. The possibilities here are endless. This might be a bit complex for non-technical people, but for those interested in learning more, you can read the following article or our documentation 3)The BAI token plays a central role in the platform. What are the primary ways users will interact with BAI, and how will token holders benefit from actively contributing to the platform (e.g., developing new tools or identifying bugs)? The primary use of the BAI token is to pay for services offered on the platform; every request requires a fee in BAI. In addition to this, anyone can propose an idea they want to build around BAI and submit it for voting on the platform’s DAO to request potential support. We are always open to supporting community initiatives related to our project. Our tokenomics are very clear, with currently very few $BAI tokens in circulation and the majority being locked in the DAO Treasury. To learn more about the tokenomics, please refer to our whitepaper 4)What role do user surveys play in guiding the platform's development, and how do you ensure that community input is meaningfully incorporated into major decisions, such as introducing new AI tools or changes to the token economics? BAI uses a Fair DAO Model where voting power is derived solely from using the platform, rather than the usual token-holding scheme. This approach ensures that those who participate in the voting process for important decisions, updates, new features, etc., are the people who actually use the platform and therefore fully understand it. Unlike most DAOs, you cannot simply buy tokens and make decisions without having ever tried the platform or knowing what is good or bad for it. Additionally, you cannot manipulate the system by buying tokens just to vote for your own idea and then selling them afterward, as voting power is granted to active users who have spent BAI using the various features. 5)With AI and blockchain evolving rapidly, how do you plan to expand the selection of AI tools available on the platform? Will the selection focus on specific industries or general-use cases? We can decide to add some models ourselves, but the main idea is to suggest them through the DAO and have the users vote. Recently, we opened a vote to add Claude 3.5 and Llama 3; there was more interest in Llama 3, which was subsequently added. Any community member can start a vote to suggest a model, a blockchain, etc. Of course, the final decision rests with the team, as it must be technically feasible and make sense for the project. The same applies to adding new blockchains. We are currently conducting R&D around Solana and TON, which we believe are two very promising chains to add. Once we determine if they are a good fit for the project, we will open a vote, and our community will be able to participate in the decision to add one or both. We are not necessarily focused on a specific industry, as our tools apply to many of them. We are always open to exploring new ideas and will continue adding new features and models as we see them fit the project. 6)How do you see the future of AI and blockchain integration evolving, and where do you hope Project BAI will be positioned within this space in the next 5 years? The future of AI and Blockchain is likely the most promising development of the current decade. This is only the beginning, and there is so much to be done in this space, which is the most exciting part. There is no doubt that many projects will work on AI and Blockchain integration as it becomes a standard. By starting early and offering a unique approach, BAI aims to be a centerpiece in this field over the next five years.

Official links

Base mainnet: 0x6a27CD26a373530835B9fE7aC472B3e080070F64 BNB mainnet: 0x10Da043D0B46e43B53B74a88AC60CCC28e2AFDf8 Waves mainnet: 2fdzyHvXGCqaz1XA8m9fodemmP9giVBcpe4Jq9F63oFL Whitepaper Website Twitter Telegram Reddit LinkedIn

Where to buy

MEXC PANCAKE WAVES BASE This is a (daily) in-depth analysis by Memecoin Season about the most promising and/or successful meme coin projects within the dynamic blockchain space. We first share this report with our invite-only community of investors and enthusiasts to study and potentially consider for their investment strategies. Then, the next day, we publish it for the general public. While we thoroughly pick and analyze strong contenders in the meme coin space, remember that we do not give here any investment advice. Always consider your own goals and analyze the risks inherent to meme coins before investing.
Featured on Sep 26
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