Binance has listed the IO token of the decentralized physical infrastructure network (DePin) project io.net. Trading of IO tokens began at 12:00 UTC on June 11.
Notably, the claim for tokens started one hour ago, at 11:00 UTC.
Cryptocurrency analysts' speculations on the value of IO tokens
This listing is a significant moment for io.net, with the token currently trading at $3.78. This boasts a fully diluted value (FDV) of approximately $3 billion. FDV is the product of the token’s current price and maximum supply.
IO tokens are the primary currency within the io.net ecosystem and are used for services, transactions, and fees. It is also used to provide graphics processing unit (GPU) performance , encourage participation, and reward contributors who support network growth.
Read more: Tokenomics Explained: The Economics of Cryptocurrency Tokens
Cryptocurrency investor Axel Bitblaze demonstrated the potential of IO tokens by comparing them with similar projects.
“Compared to similar projects such as Render (RNDR), io.net’s FDV could range from $2.5 billion to $4 billion,” Axel Bitblaze said .
Reflecting Bitblaze’s optimization, DeFi analyst Jake Farhor mentioned potential pricing based on the valuation of renders .
“If Render launches with a FDV of $4.6 billion with a total of 800 million IO tokens, that would be $5.75 per token,” Pahor said .
This comparison extends beyond valuation to the underlying technology infrastructure. The io.net project stands out for its significant GPU performance, which is essential for network operations.
Web3 researcher Elip5DeFi shared a visual showing that io.net has 21,784 GPUs, outperforming competitors such as Render and Akash Network (AKT), which have 14,000 and 413 GPUs respectively.
This superior GPU count suggests that io.net can achieve, if not outperform, FDV of renders. Therefore, IO tokens still have room for growth even after token listing.
“I’m not going to make any predictions, but the numbers speak for themselves,” Elip5DeFi said .
Axel Bitblaze also highlights the intersection of decentralized artificial intelligence and Defin technology within io.net, calling it the “Internet of Graphics Processing Units (GPUs).” We also discussed the significant cost issues associated with the high-end GPUs needed to train complex AI models.
“Training an AI model requires enormous computing power to process all the feed data and train it to the desired output. You'll need a GPU for this. High-end GPUs aren't cheap. The prices are so high that self-funded startups can’t even afford them,” explains Axel Bitblaze.
To solve these problems, io.net has innovated a decentralized computing network that provides significant computing power at a fraction of the traditional cost, like the “Airbnb of GPUs.” This setup allows individuals and businesses to rent out idle GPU power, providing a mutually beneficial solution for both hardware owners and AI companies.
Read more: 9 Web3 projects that are revolutionizing the industry
Additionally, io.net enhances your AI infrastructure by creating GPU clusters that provide flexibility and rapid deployment capabilities. This approach increases system resilience and reduces costs.
Trusted
The information contained on the BeInCrypto website is published in good faith and for informational purposes only. Users are solely responsible for any consequences arising from their use of information on the website.
In addition, some content is an AI-translated version of the English version of BeInCrypto articles.
