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Openfabric AI Price

(OFN)

AUD(A$)

Note: This cryptocurrency has not yet been officially listed on KuCoin.

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Openfabric AI (OFN) Live Price Chart

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    OFN(OFN) Profile

    altRank3390
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    ATH
    A$1.28
    Price Change (1h)
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    Price Change (24h)
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    Price Change (7d)
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    Market Cap
    24h Volume
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    Circulating Supply
    174,845,640
    Max Supply
    500,000,000

    About Openfabric AI

    • What Is Openfabric AI (OFN) Crypto?

      Openfabric AI is a decentralized artificial intelligence (AI) platform that facilitates collaboration between AI innovators, data providers, businesses, and infrastructure providers to create and utilize intelligent algorithms and services.

      The Openfabric AI platform aims to lower the barrier to entry for utilizing AI applications by leveraging blockchain technology, advanced cryptography, and novel infrastructure. This approach helps to address infrastructure demands and technical complexities, opening up new market opportunities.

      The Openfabric ecosystem encourages fair market competition and collaboration within communities, ensuring the scalability and execution of AI applications. It also provides a marketplace for AI apps where users can access cutting-edge solutions.

      OFN, a BEP-20 token on the BNB Chain, is the native currency of the Openfabric AI ecosystem and serves as its utility token. It supports the network’s consensus mechanism via staking. It is also used to pay transaction fees and incentivize engagement.

    • How Does Openfabric AI Work?

      Openfabric AI operates based on a collaborative ecosystem where different stakeholders play specific roles, such as:

      1. Service Consumer: The end-user or business that seeks to solve specific problems or enhance their products/services with intelligent algorithms.

      2. AI Innovator: These individuals or organizations specialize in creating practical AI algorithms capable of solving complex business problems.

      3. Data Provider: Data providers ensure the distribution of the vast amount of data required for training and testing AI algorithms.

      4. Infrastructure Provider: Infrastructure providers offer hardware capabilities to run and train AI models successfully.

      The Openfabric AI architecture consists of the following components:

      DLT Layer

      The distributed layer technology (DLT) layer acts as the communication backbone, providing system replication, decentralization, and secure communication. By utilizing blockchain technology, the platform ensures trust, security, and transparency.

      Ontology Model

      Openfabric uses a protocol composed of interoperable ontology models. These models represent the input and output of the AI agents, translating and abstracting the data for internal and external collaborations.

      Layered Architecture

      The platform is designed with a layered architecture to ensure optimal output for all stakeholders. This structure simplifies the use of AI and blockchain technology, even for users with limited technical knowledge.

    • History of Openfabric AI and OFN Coin

      Openfabric AI was founded by tech entrepreneur and polymath Andrei Tara, who also serves as the company’s CEO. Andrei’s previous experience includes working as a core developer at Elrond and as a blockchain researcher at SkyNetwork.

      According to the Openfabric AI roadmap, the project’s initial concept was unveiled in Q1 2019, followed by its economic foundation in Q3 2019. By Q2 2020, the team had completed the fundamental research behind the concept of Openfabric AI and published research papers, and its technical foundation was established in Q3 2020.

      The Openfabric AI technical whitepaper was released in Q4 2020, followed by a prototype launch in Q1 2021. The Openfabric MVP launch (Testnet 0.1) happened in Q3 2021, while the alpha version of the project was launched in Q1 2022.

      In Q2 2022, the Openfabric AI project started onboarding strategic investors and forging ecosystem partnerships. The community portal and Hyper AI release took place in Q4 2022.

      The Openfabric AI beta launch (public Testnet) took place in Q2 2023, followed by the launch of the $OFN token in Q4 2023. As of October 2023, future goals include the Openfabric Mainnet Bootstrapping Cycle and validator selection program in Q1 2024.

    FAQ

    Is Openfabric AI (OFN) a Good Investment?

    The OFN coin could be considered a potentially good investment for several reasons:

    Decentralized Layer-1 Blockchain for AI

    Openfabric AI offers a decentralized layer-one blockchain protocol specifically designed for developing AI infrastructure and integrating AI applications. This innovative approach combines the strengths of blockchain technology, advanced cryptography, and novel infrastructure to harness the power of AI. Such a unique value proposition can attract attention and potential adoption in the AI industry.

    The Versatility of Openfabric AI’s Technology

    Openfabric AI aims to serve various industries, including supply chain, gaming, sports, manufacturing, finance, and healthcare. By targeting diverse sectors, Openfabric AI opens up opportunities for growth and adoption in multiple markets. This can potentially increase the value and demand for $OFN as the ecosystem expands.

    Collaboration and Resource Sharing

    The Openfabric AI platform facilitates collaboration between AI developers, infrastructure providers, and data providers. This collaborative approach allows these stakeholders to share resources, expertise, tools, and AI applications. Creating a community-driven ecosystem allows Openfabric AI to attract a strong network effect and foster ongoing innovation.

    Future Developments in Openfabric AI Ecosystem

    Openfabric AI leverages blockchain technology to ensure scalability and execution capabilities, eliminating vendor lockup. This scalability aspect is crucial as the demand for AI applications grows exponentially. By addressing infrastructure demands and technical complexities, Openfabric AI aims to lower barriers to entry and increase accessibility to AI applications.

    What Is Openfabric AI Price Prediction?

    While we cannot offer a reliable OFN price prediction over any timeframe, the following factors could help you understand the price action in Openfabric AI crypto:

    Level of Adoption of Openfabric AI

    The level of adoption and usage of the Openfabric AI platform can impact the $OFN price. As more individuals, businesses, and developers utilize the platform and its services, the demand for OFN tokens may increase, potentially influencing the Openfabric AI price.

    Openfabric AI’s Partnerships and Integrations

    Partnerships or collaborations with other projects, companies, or platforms can positively impact the OFN to USD price. Such partnerships can increase the visibility and adoption of the Openfabric AI platform, potentially increasing the demand for OFN tokens.

    Crypto Market Conditions

    The overall sentiment and market conditions within the cryptocurrency industry can also affect the price of OFN tokens. Factors such as positive or negative news, market trends, regulatory developments, and investor sentiment towards cryptocurrencies can impact the price of Openfabric AI token.

    What Is OFN Token Used for?

    $OFN is the native cryptocurrency of the Openfabric AI platform and has the following use cases:

    Utility Token

    The $OFN token is the Openfabric AI network's native digital currency, crucial for encouraging responsible network behavior and enabling different functionalities. It is used to pay transaction fees, serve as a medium of exchange, and interact with AI apps on the platform.

    Governance Token

    OFN holders can participate in the decentralized governance of the Openfabric AI project. They can submit proposals and vote on other community members’ proposals to help shape the project’s future evolution.

    Staking on Openfabric AI

    AI innovators, data providers, and infrastructure providers stake OFN tokens to join the network and face penalties for misconduct. Service consumers can optionally stake tokens for transactions in the peer-to-peer marketplace. Validators stake $OFN to maintain network security, prevent centralization, and promote decentralization.

    Incentive Token

    Infrastructure providers earn OFN tokens for renting out resources to run AIs based on hardware usage. AI innovators are rewarded with tokens for developing and deploying valuable AI solutions per execution. Data providers earn tokens for providing relevant data for AI training per dataset download.

    Access Exclusive Privileges

    Holders maintaining a certain OFN balance get exclusive privileges like access to special products/services, early access to new releases based on token count, invitations to exclusive webinars, and entry to specific communication forums like exclusive Discord channels.

    Trade or HODL OFN

    Trade Openfabric AI coin against other crypto assets on the KuCoin Spot Market to make the most of changing market conditions and volatility. Buy or sell OFN or hold the token long-term if you believe in the future potential of the Openfabric AI platform.

    How to Participate in Openfabric AI Airdrop

    Openfabric announces airdrop campaigns from time to time, giving away free $OFN tokens to its community members. You can become eligible for $OFN airdrops by joining the Openfabric AI community and participating in various activities and contests.

    The project airdrops OFN tokens to the most active members of the community who complete tasks, such as sharing posts on social media, referring other users, etc. Keep an eye on the official Discord channel and other social network accounts to learn more about the next Openfabric AI airdrop campaign.

    Who Are Openfabric AI’s Partners and Investors?

    Openfabric AI has forged several partnerships in the crypto industry. Some project partners include API3, Reef Finance, IPFS, DeepSquare, Radom Network, veDAO, DexCheck, and SparqNet.

    Investors in Openfabric AI include GSR, Big Brain Holdings, Gate.io Labs, Cogitent Ventures, Autonomy Capital, and Kangaroo Capital.

    What is the all-time high price of Openfabric AI (OFN)?

    The all-time high price of Openfabric AI (OFN) is A$1.28. The current price of OFN is down -- from its all-time high.

    How much Openfabric AI (OFN) is there in circulation?

    As of 8 13, 2026, there is currently 174,845,640 OFN in circulation. OFN has a maximum supply of 500,000,000.

    How do I store Openfabric AI (OFN)?

    You can store your Openfabric AI in the custodial wallet of a cryptocurrency exchange without having to worry about managing your private keys. Other ways to store your OFN include using a self-custody wallet (on a web browser, mobile device, or desktop), a hardware wallet, a third-party crypto custody service, or a paper wallet.