I’m writing to you today to tell you about a new cryptocurrency that has the potential to reshape the cryptoconomy and generate meaningful passive income for investors.
First, I want to make clear that this is not a recommendation to buy this token. I will not be adding this token to our Frontier Fortunes Portfolio. It’s a just-released token, so the risk here is high… even by crypto standards.
However, this token represents an emerging intersection between crypto and artificial intelligence. As such, it’s generating a huge amount of attention among crypto insiders. So, I wanted to share some initial thoughts and details with you.
In your upcoming quarterly issue of Frontier Fortunes later this month, I’m going to offer a more detailed explainer on the emerging AI-crypto nexus, and what it means for the future of the cryptoconomy.
But today, allow me to give you a brief introduction to this new token. It’s called 0x0.ai.
In a nutshell, 0x0.ai offers three services:
- An AI-powered auditor that allows teams to use artificial intelligence as a way to catch and repair faulty coding in “smart contracts” that might otherwise allow a hack to occur. (Smart contracts are self-executing programs used on crypto platforms.)
- A privacy mixer that allows crypto users to anonymize their crypto holdings.
- A privacy DEX, or decentralized exchange, where crypto buyers and sellers can conduct their transactions anonymously.
All three are significant services in the crypto space.
The interesting aspect of 0x0.ai is that it will distribute 100% of the fees it receives for providing these services…returning them to investors who own the tokens. That could potentially amount to a sizeable sum, given that on an average day the world’s DEXs see about $2.5 billion in trading volume.
Even a 1% or 2% share of that market could add up to a nice income, depending on how many 0x0.ai tokens an investor owns.
Right now, 0x0.ai is trading at about $0.07 per token, and has been on the move in the last few weeks because “whale money” has been moving into this project. In early April, the token was under $0.01.
Based on the total number of tokens that will exist, and based on the services 0x0 offers, this asset has a big potential upside.
If its services catch on (and admittedly that’s a big “if”), I can see it moving past $1 per token, meaning a 14x to 15x return, possibly much more.
For full disclosure, I’ve been a buyer of this token. I now own just under 70,000 0x0.ai tokens. I will not be selling them anytime soon. In fact, I will be adding. I want to participate in the growth of what I think could be a popular set of services. Still, I freely admit that this is a highly risky play.
Ultimately, irrespective of whether this specific token catches on, AI-based crypto services are an exciting development that could shape the future of this industry.
Where Is 0x0.ai Traded?
If you want to investigate this token further yourself, I’ll note that you won’t find it on a traditional centralized exchange such as Coinbase or Binance.US.
You have to use Uniswap, a DEX.
You will need a MetaMask browser wallet to trade this token. You can download that here.
The setup process for this is very similar to the setup process for the Phantom browser wallet that we currently use in the portfolio.
The setup on your internet browser is easy and self-explanatory, and it takes just a few minutes. Just be sure to write down your seed phrase and store it in a safe place.
Once you have that set up, you must:
- From your centralized exchange account (Crypto.com, Coinbase, etc.) transfer to your MetaMask wallet whatever sum of Ethereum or USDT (the U.S. dollar stablecoin known as Tether) that you want to invest in 0x0.
- Head to Uniswap.org and click on the pink “Launch App” button on the top right.
- The “Swap” function dialogue box will open once you connect your wallet. Choose the currency you want to sell (Ethereum or USDT), and choose the currency you want to buy, 0x0.ai.
Note, the “0” in 0x0 is a zero… not the letter “O.” There is another token that uses oxo, so be sure you are using the zero. This is what the 0x0.ai token icon looks like:
Note, that if you do buy some 0x0.ai tokens, you might not (probably won’t) see them in your MetaMask wallet because the wallet doesn’t actually track every single coin available on the Ethereum network.
So, you may need to add the 0x0.ai token contract to MetaMask, which is easily accomplished by following these steps…
- Open your MetaMask wallet and scroll to the bottom. You will see this:
2. Click on “import tokens.” This pops up:
3. Click on “Custom token,” and you will see this:
4. To find the token contract address, head to CoinGecko.com and search “0x0.ai” in the search function. This is what will pop up.
5. Click on the overlapping squares to temporarily copy the address. The long alphanumeric string I’ve listed here is the token contract address, if you don’t want to go through CoinGecko (but it’s good to know how to use CoinGecko for future reference): 0x5a3e6a77ba2f983ec0d371ea3b475f8bc0811ad5
6. Go back to MetaMask and insert the token contract address. MetaMask will autofill the “token symbol” and “token decimal” fields.
7. Then just click Add Custom Token, and 0x0 will be added to your MetaMask wallet. Return to the “Assets” tab in your wallet and you will then see your 0x0 tokens.
The High Cost of Trading
Let me note here that trading on the Ethereum network (ETH) is not cheap. Transaction fees—called “gas” in the crypto space—can be quite high when the network is busy. Trades can cost $50 to $80 in many cases.
You can wait for a slower period, usually very late at night or exceedingly early in the morning U.S. East Coast time, and pay between $20 and $40…or you just bite the bullet and pay the higher fee.
Here at the end, let me emphasize again that this is a highly volatile asset. So, this alert should not be considered a recommendation. I’m just letting you know what I’m doing with my own funds.
Still, more broadly, this intersection of AI and crypto is a highly exciting development. And in your upcoming quarterly issue, I’ll share what it means for the future of crypto and our investments.
