How CryptoSwarm.ai unlocks opportunities with NFTs –

Up until this point, NFTs have gotten a bad rap. When most people hear the term, they think of Bored Apes or childish video games. Why would anyone spend hundreds of thousands of dollars on a JPEG that anyone can download themselves? What value does it provide?

It is easy to criticize a technology in its early phase. Before Uber and Instagram, the app store seemingly only contained apps to produce trombone sounds and other silly gimmicks. Similarly, NFTs have only been applied to a small, single field so far – digital art. While even this application is of interest to anyone knowledgeable about art markets, NFTs will quickly move past JPEGs and into more significant areas.

In this final part of this mini-series, I will dive into one application area using an example NFT project called CryptoSwarm.ai. Full disclaimer, I’m part of the team behind this project, but it’s an excellent case study nonetheless.

What is CryptoSwarm?

CryptoSwarm was started by Unanimous AI, a company that built Swarm AI, a collective intelligence software that has been lab- and market-tested for nearly a decade. Swarm AI allows users to come together in real-time “swarms” and converge on optimal decisions through collective intelligence and AI-assisted feedback loops. It’s based on the same science behind why bees swarm and fish school. In the past, it has allowed traders to increase returns from 0.7% to 13.3% and Stanford doctors to improve diagnoses by 33% compared to their individual opinions.

This power of forecasting also applies to crypto. We bring together groups of cryptocurrency traders who use Swarm AI to produce intelligence reports for our community. Generating intelligence through swarming is a much more natural way to gauge market sentiment that drives crypto prices, as they are entirely defined by what participants feel and think.

Instead of using cold, technical analytical tools, CryptoSwarm allows human experts to combine reasoning and emotion in real-time swarm sessions that are thoroughly analyzed in our reports. This flexible system produces information that is relevant regardless of the market state: up, down, sideways.

Here’s the catch. Instead of relying on traditional payment rails and internal databases to manage a standard subscription model, we use NFTs as a ticket to unlock these intelligence reports.

That means holders get real benefit from day one – no ugly monkeys, no hype marketing. This is a trend that has accelerated as more companies integrate NFTs into their models, offering their already valuable offerings in new go-to-market strategies.

NFT subscription models

There are some advantages to using NFTs as subscription cards. One is that buyers can resell their pass when they no longer need the service, potentially even at a profit if the NFT appreciates it. Payments between business and customer also happen much more naturally across national borders and without strict requirements that people from emerging markets may not be able to meet, expanding the addressable audience base and streamlining the customer experience. Finally, it’s also great for access management, as you can easily verify whether someone has an NFT in their wallet or not.

Since our target audience is crypto traders, it makes sense to rely on a crypto-adjacent mechanism, such as NFTs, that our audience is already familiar with. Unlike a standard subscription model, choosing to issue NFTs right now also comes with a set of expectations and benefits. For example, almost all NFT projects have Discords, and emphasize building a community of individuals and being completely transparent with that community – as opposed to building a spreadsheet with a list of customer phone numbers and emails.

CryptoSwarm and Web3

Well-built communities can introduce a network effect and add value to the product or service, drive Web3 projects forward through word of mouth, and build trust between business and customer.

The Web3 ecosystem provides many options to expand into. It would be possible for CryptoSwarm.ai to allocate a DAO-like fund based on the swarm forecasts, where contributors are allocated proportionally to how many NFTs they have. We can also issue more NFTs if the first coin is successful and demand increases, maintaining tight control over what is today called “tokenomics”.

Final thoughts

Even if you don’t want to integrate NFTs, Web3 or crypto into your business right away, at least don’t shrug your shoulders for another decade. As mentioned in the last section, it is a classic case of the innovator’s dilemma, where the new technology has less to offer than established solutions, but with a growth rate that will leave the established things dead in the water in a few years, creating markets rather than to win them.

It’s probably a good idea to get to know each other now. Getting this far in this three part series is an excellent start. If you are a trader or want a good introduction to this world, go to CryptoSwarm’s website or contact me directly if you have any questions about NFTs.

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