AI Tokens: The New Market Trend?
Tokens from AI projects have been surging in recent days following Microsoft's announcement of plans to co-own OpenAI.
The crypto community has been buzzing with excitement over the recent developments in artificial intelligence (AI), particularly with the launch of ChatGPT by OpenAI in late November 2022.
Try talking with ChatGPT, our new AI system which is optimized for dialogue. Your feedback will help us improve it. https://t.co/sHDm57g3Kr
— OpenAI (@OpenAI) November 30, 2022
OpenAI released several AI products last year, with Dall-E 2 and ChatGPT being among the most notable. These tools have the potential to support Web3 development and enhance user interfaces and experiences.
Despite receiving mixed reviews and some subpar experiences, the advancement of AI is seen as a significant milestone and a foundation for future innovations.
The AI trend gained momentum after Microsoft announced its intention to invest $10 billion in OpenAI for a 49% stake in the company. Previously, in 2019, Microsoft had invested $1 billion in OpenAI, becoming a preferred partner for commercializing new technologies for Bing and Microsoft Design, aiming to compete directly with Google.
Microsoft plans to invest $10 billion in OpenAI, the startup behind popular artificial intelligence tool ChatGPT, according to a report from Semafor. https://t.co/m9UC3mQDbb
— CNBC (@CNBC) January 10, 2023
Following this news, the AI project SingularityNET has emerged as a leader in the recent market surge. The price of the AGIX token soared to $0.10 before settling at $0.083 at the time of this update. According to CoinMarketCap, the trading volume of this token also showed significant momentum over the past 24 hours.
1D Chart of AGIX/BUSD on Binance as of 12:30 PM January 12, 2023
Other AI-related tokens have also benefited from this trend. The Graph (GRT) has increased by 15.8% over the past week, while Fetch.ai (FET) has experienced a substantial 66% rise over the same period.
Top AI Projects by Market Cap. Source: CoinMarketCap
In summary, AI could indeed be the next big trend in the crypto space. However, it will take some time for this technology to reach mainstream adoption and become widely used among the crypto community.
