AIOZ Network Analysis: AI Computing Plans Propel $AIOZ to 500% Jump in 2024

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Decentralized physical infrastructure network (DePIN) AIOZ Network is the latest token to break into the 100 largest cryptocurrencies in the world by market capitalization.

The AIOZ token has gained about 500% year-to-date, as of May 20, 2024, supported by its brand revamp and venture into the decentralized AI computing sector.

AIOZ_1Y_graph_coinmarketcap
AIOZ Network 1-Year Performance. Source: CoinMarketCap

In this article, we analyze the AIOZ price movement and take you through all the important AIOZ Network news from recent months.

Key Takeaways

  • AIOZ is a Cosmos-based decentralized physical infrastructure network.
  • In November 2023, AIOZ recorded its best month ever after surging 1,100%.
  • The rally came after AIOZ announced its project roadmap for 2024.
  • AIOZ’s decentralized marketplace for AI computing is expected to launch in Q2 2024.
  • AIOZ was the fourth-best performing token in 2024 among the top 100 cryptos as of mid-May 2024.

What Is AIOZ Network?

Let’s briefly talk about AIOZ Network to understand the market factors that drive the price of its token.

AIOZ Network is an infrastructure network that provides solutions for data storage, artificial intelligence (AI) computation, video streaming, and peer-to-peer file sharing.

AIOZ is powered by an EVM-compatible blockchain built on the Cosmos network. The network has a multichain approach. AIOZ is connected to other Cosmos chains via the inter-blockchain communication protocol. It aims to develop cross-chain bridges to EVM chains such as Ethereum (ETH) and BNB Chain (BNB).

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AIOZ’s services can be broken down into the following parts:

  • AIOZ Web3 Storage – Decentralized data storage on peer-to-peer nodes on the AIOZ blockchain. AIOZ W3S is compatible with Amazon’s Simple Storage Service (AWS S3).
  • AIOZ W3IPFS –  Decentralized open-source file-sharing system for NFTs and content delivery.
  • AIOZ W3AI –- Decentralized marketplace for computing infrastructure. It is expected to be launched in the second quarter of 2024.
  • AIOZ W3Stream – Decentralized video streaming solutions.

AIOZ Network Price Analysis

Origins of AIOZ Crypto

AIOZ is the native token of the AIOZ Network.

The token debuted on April 2, 2021, via an initial DEX offering (IDO) on two token launchpads BSCPad and Paid Network, at a price of $0.015 per AIOZ token. About 17 million tokens were sold for $255,000 during the IDO.

AIOZ also conducted a private sale to raise about $1.1 million. According to data compiled by cryptorank, 53% of the initial token supply was allocated for the ecosystem, 25% was set aside for the team, 7.3% for private sales, 5% for marketing, and 9.7% for other needs.

Early Days of AIOZ

Early market data on CoinMarketCap showed the AIOZ token debuting in the open market at about $1.8 on April 5, 2021. However, AIOZ soon dipped to a low of $0.16 by July 2021.

AIOZ Network All-Time Performance
AIOZ Network All-Time Performance. Source: CoinMarketCap

Later, in November 2021, the AIOZ coin price saw a brief resurgence as it surged in line with broader cryptocurrency prices as Bitcoin (BTC) scaled a then-all-time high of about $69,000.

Thereafter, AIOZ saw diminishing investor interest and increased selling pressure as vested tokens unlocked during the crypto winter of 2022.

Bearish AIOZ price movement extended in 2023 as the token fell to an all-time low of $0.01105 – 26% below IDO price of $0.015 in September 2023.

AIOZ Revival

In November 2023, AIOZ recorded its best month ever after skyrocketing nearly 1,100%.

What sparked the rally was AIOZ’s announcement on X (formerly Twitter) that the network was undergoing a rebranding and that its team had been “developing a suite of infrastructure and dApp products.”

AIOZ also assured investors that marketing will start becoming a “core focus” for the project.

Prior to the announcement, AIOZ had been inconsistent with their community updates, tweeting only four times between July and October 2024.

Another factor leading to AIOZ’s incredible run in November 2023 was the hype around AI cryptocurrencies at the time. AIOZ laid out its AI ambitions by revealing a roadmap that aimed to launch a decentralized AI-as-a-service solution called AIOZ W3AI in the second quarter of 2024.

In 2024, AIOZ has stayed true to its word and has been consistently providing investors with network development updates on X.

Listing on centralized exchange ByBit, the introduction of a token burning mechaism, and AIOZ Network partnerships with Alibaba Cloud and National Tsing Hua University helped AIOZ token rise to a two-year high of over $1 on March 25, 2024.

As of May 20, 2024, AIOZ was the fourth-best performing token in 2024 among the top 100 cryptocurrencies, with a near 500% year-to-date gain.

At its current token price of about $0.82, AIOZ held a market cap of over $897 million, making it the 88th largest crypto in the world, data on CoinMarketCap showed.

Market-Moving AIOZ Network News

Here are the top AIOZ news that have driven its gains since late 2023:

  1. AIOZ Vision Paper – On November 29, 2023, AIOZ published a roadmap detailing timelines for new token standards, cross-chain bridge, DEX, and product launches across AI, data storage, content delivery, and file-sharing verticals.
  2. New Tokenomics – AIOZ revised the mechanics behind the AIOZ network coin in December 2023 by reducing inflation rates.
  3. AIOZ W3S Launch – AIOZ launched a decentralized cloud storage solution called AIOZ Web3 Storage (AIOZ W3S) in December 2023.
  4. ByBit Listing – On January 3, 2024, the AIOZ token listed on Bybit, the world’s third-largest CEX based on 24-hour trading volume.
  5. AIOZ Network Upgrade – AIOZ upgraded its network to introduce an automatic token burning mechanism and a transaction fee-burning mechanism.
  6. Alibaba Cloud Collaboration – AIOZ Network and Alibaba Cloud announced a collaboration to establish the Alibaba Cloud Singapore Innovation Accelerator. AIOZ Network will provide infrastructure and advisory services to projects developed on the platform.
  7. AIOZ W3IPFS Launch – AIOZ launched a decentralized peer-to-peer file sharing solution called AIOZ Web3 Interplanetary File System (W3IPFS) in March 2024, which is aimed at NFT development.

Analyst View

In a research note, Ren Yu Kong of Blockworks Research said:

“In AIOZ Network’s case, they successfully dogfood demand for their own product. For example, when a customer utilizes W3AI for model training, they might require storage to store various datasets or encoded data required for computing tasks.”

“Or, for example, when a customer utilizes W3Stream for on-demand live video streaming through AIOZ Network’s dCDN, they will utilize AIOZ Network’s GPU resources that are supplied to their W3AI solution, while also using W3S to store any media that needs to be streamed,” Kong added.

Elsewhere, DePIN expert and former Messari analyst Sami Kassab said:

“The number of GPU networks has surged over the last year. These teams are gearing up for war as they vie for access to limited GPU resources alongside their rivals.”

“Rather than competing upstream, the increase demand for quality data to train AI models has created an alternative exit for DePINs that collect real-world data,” he added.

“Looking ahead, I’m most excited for DePIN x AI, and unlocking an onchain inference economy using zk enabled inferencing networks,” said Kassab.

The Bottom Line

AIOZ has certainly made its comeback at the perfect time when the hype around AI crypto was at its peak in late 2023.

Looking forward, it remains to be seen whether AIOZ can deliver on its exciting ambitions of becoming a multifaceted DePIN.

Investors might consider investing in the AIOZ token with caution. Like any cryptocurrency, it is extremely volatile and considered a risky investment.

Always do your own research before investing. This article should not be considered investment advice and is for information purposes only.

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Mensholong Lepcha
Crypto & Blockchain Writer
Mensholong Lepcha
Crypto & Blockchain Writer

Mensholong is an experienced crypto and blockchain journalist, now a full-time writer at Techopedia. He has previously contributed news coverage and in-depth market analysis to Capital.com, StockTwits, XBO, and other publications. He started his writing career at Reuters in 2017, covering global equity markets. In his free time, Mensholong loves watching football, finding new music, and buying BTC and ETH for his crypto portfolio.