On October 6, 2023, legendary investor Charlie Munger dismissed artificial intelligence as “getting a huge amount of hype” during an appearance at Zoom’s Zoomtopia conference. The 99-year-old Berkshire Hathaway vice chairman told attendees that AI is “probably getting more than it deserves,” noting that the technology has existed since the 1950s and that “old-fashioned intelligence works pretty well.”
Meanwhile, in the crypto space, AI-focused projects continued to attract significant investment. InQubeta, a platform enabling fractional investment in AI startups through blockchain-based NFTs, announced it had raised over $3.4 million in its ongoing presale. Fetch.AI, SingularityNET, and Ocean Protocol — all tokens trading under $1 — were being highlighted by AI prediction models as strong candidates for growth in 2023 and 2024.
The Synergy
The juxtaposition of Munger’s skepticism and the crypto-AI sector’s momentum captures a fundamental tension in the market. Traditional finance veterans see AI through the lens of decades of technology hype cycles, while blockchain projects are positioning AI as the key catalyst for the next generation of decentralized applications.
There is genuine synergy between artificial intelligence and blockchain technology that extends beyond marketing narratives. Machine learning models require massive computational resources — resources that decentralized networks can provide more efficiently than centralized alternatives. The emerging DePIN (Decentralized Physical Infrastructure Networks) sector is building exactly this kind of infrastructure, connecting distributed GPU capacity with AI training workloads.
AI Use Cases in Web3
Several concrete AI applications are gaining traction in the Web3 space. SingularityNET’s AGIX token powers a decentralized marketplace for AI services, where developers can list and monetize machine learning models, natural language processing tools, and computer vision algorithms without relying on centralized platforms. Fetch.AI’s FET token underpins a network of Autonomous Economic Agents — software entities that use AI to perform tasks like decentralized data aggregation, optimized trading, and autonomous transportation coordination.
Ocean Protocol’s OCEAN token facilitates a data exchange marketplace where AI practitioners can access training datasets with verifiable provenance and privacy guarantees. Injective Protocol’s INJ supports AI-powered decentralized trading with features like predictive analytics and automated market-making strategies.
With Bitcoin at $27,946 and Ethereum at $1,645, the broader crypto market showed modest stability, but AI-focused tokens were seeing outsized attention from investors looking for the next narrative catalyst. The intersection of AI and crypto represents a convergence of two transformative technologies, each amplifying the other’s capabilities.
Data Privacy Implications
The merging of AI and blockchain raises important privacy questions. AI systems are notoriously data-hungry, and the transparency that makes blockchain valuable for verification can conflict with the privacy requirements of personal data. Projects like Ocean Protocol attempt to resolve this tension through privacy-preserving computation techniques, but the broader ecosystem remains in early stages of developing robust privacy frameworks.
Munger’s skepticism, while perhaps overly dismissive, touches on a legitimate concern: the gap between AI’s demonstrated capabilities and the promises made by projects seeking to capitalize on the hype. Not every AI-crypto project will deliver on its vision, and investors should evaluate each project on its technical merits rather than its narrative alignment.
The Innovation Frontier
Despite the hype concerns, the frontier of AI-crypto innovation continues to expand. InQubeta’s model of fractional AI startup investment through NFTs represents a novel approach to democratizing access to early-stage AI ventures. The deflationary token mechanics and staking rewards built into the QUBE token design reflect an understanding of crypto-native incentive structures that traditional investment vehicles lack.
The coming months will likely see increased integration between AI capabilities and blockchain infrastructure, particularly in areas like automated smart contract auditing, AI-driven DeFi yield optimization, and decentralized AI model training. Whether these developments live up to the current enthusiasm remains to be seen, but the fundamental value proposition — combining AI’s computational power with blockchain’s trust and verification mechanisms — is sound.
Concluding Thoughts
Munger was right that AI hype has outpaced reality in some areas. He was also wrong to dismiss the technology entirely — and doubly wrong to lump AI innovation together with his long-standing criticism of cryptocurrency. The AI-crypto intersection is producing real tools with real users, even if the valuations attached to some projects reflect more hope than substance. For investors, the key is distinguishing between projects building genuine AI infrastructure and those merely attaching “AI” to their marketing materials.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Always conduct your own research before making investment decisions.
Munger saying AI is overhyped while InQubeta raises $3.4M from retail is the perfect summary of the generational disconnect. the man invested in newspapers and candy, maybe not the best AI analyst
ngmi take from munger but also the AI crypto grift is very real. most of these tokens have zero shipping product
munger was 99 years old dissing AI at a zoom conference while InQubeta was pulling 3.4M for AI startup fractional NFTs. absolute cinema
Fetch.AI, SingularityNET and Ocean Protocol all under $1 at the time. wonder how many people aped in based on that framing vs actual fundamentals
SingularityNET, Fetch.AI, Ocean Protocol merging into ASI was the real story. three underperformers combining into one slightly larger underperformer
Akira M. the ASI merger between SingularityNET Fetch.AI and Ocean Protocol was supposed to create a decentralized AI powerhouse. instead the combined token just bled for two years straight
Akira M. three underperformers merging into ASI was just a liquidity event for the teams to cash out. the token bled 90 pct after the merge. munger would say I told you so
asi_fade_ ASI merger was a liquidity event disguised as a tech merger. bled 90 percent after and nobody faced accountability
the ASI merger was three tokens combining into one. none of them had working products individually and the merged version still doesnt
old-fashioned intelligence works pretty well is actually a reasonable take from a value investor perspective tbh
munger was right that AI hype exceeded reality in 2023. he was wrong that old fashioned intelligence was enough. both can be true
value_spectre spot on. munger underestimated AI AND overestimated his own framework. both takes were wrong simultaneously
Glen R. munger was right though. most of those AI tokens had zero working products, just whitepapers and chatgpt wrappers
InQubeta raising 3.4M for fractional AI NFTs aged like milk. where is that project now in 2026
Kofi M. InQubeta raised 3.4M for fractional AI NFTs and nobody can even find the website now in 2026. munger was wrong about AI but right about crypto AI grifters
inQubeta raising 3.4 million for fractional AI investment NFTs. peak 2023 narrative stacking
munger calling AI overhyped while InQubeta pulls 3.4M is peak boomer energy. the man was brilliant but he dismissed everything he didnt understand
old fashioned intelligence works pretty well is crazy from a guy whose entire fortune came from riding Buffetts coattails
Fetch.AI and SingularityNET all under $1 at the time and people still didnt buy. munger was wrong but timing the narrative swap is impossible
InQubeta raised 3.4M for fractional AI NFTs and the domain is dark by 2026. munger was wrong about AI but right about crypto grifters
Pia S. InQubeta going dark by 2026 validates every word Munger said about crypto AI grifters. the domain expiry is the ultimate punchline
Pia S. munger being simultaneously wrong about AI potential and right about crypto AI scams is the most honest reading of this
munger saying old fashioned intelligence works pretty well while InQubeta raised 3.4M for fractional AI NFTs is the funniest contrast in crypto history
crypto_boomer_42 munger was wrong about AI but right about crypto AI grifters. both things can be true simultaneously
boomer_rat_ munger being right about crypto scams and wrong about AI potential is the most perfectly contradictory take a 99 year old could have
ASI merger between Fetch SingularityNET and Ocean was three underperformers combining into one bigger underperformer. munger would have a field day with 2026 crypto AI