Artificial intelligence and blockchain technology are converging to create a new category of digital assets: AI tokens. This book provides a comprehensive and rigorous introduction to the protocols, networks, and economic models that underpin decentralized intelligence. Readers will explore how Bittensor pioneered the concept of a decentralized machine learning marketplace, enabling nodes to compete and collaborate on AI tasks while earning tokenized rewards. The book then traces the emergence of successor networks, from inference-layer protocols to on-chain model registries, explaining the technical architecture of each and the incentive structures that keep them functioning. The author examines valuation frameworks suited to this asset class, including throughput metrics, validator economics, and the relationship between compute supply and token demand. A dedicated section analyzes real-world use cases: decentralized data labeling, privacy-preserving inference, and AI-generated content with on-chain provenance. Risk factors are addressed with equal rigor, covering regulatory uncertainty, model quality verification challenges, and concentration of mining power. This book is intended for technology investors, crypto-native analysts, and professionals in the AI industry who want a structured, factual guide to navigating one of the most complex and rapidly evolving intersections in modern finance and computer science.
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Artificial intelligence and blockchain technology are converging to create a new category of digital assets: AI tokens. This book provides a comprehensive and rigorous introduction to the protocols, networks, and economic models that underpin decentralized intelligence. Readers will explore how B...