TRON Launches $100 Million AI Development Fund

Justin Sun’s TRON blockchain has fulfilled its previous commitment to AI development with the establishment of a $100 million fund.

On February 9, TRON announced the creation of its TRON AI Development Fund, allocating $100 million to support initiatives in artificial intelligence (AI). This move comes amid increasing media attention on AI technologies, especially with the rise of AI chatbots like ChatGPT.

The fund aims to support developers researching AI and to integrate blockchain technology with artificial intelligence. Key focus areas for investment include AI applications in payment services, oracles, investment management, and content creation.

Interested projects can apply for funding from the TRON AI Development Fund.

At the time of the announcement, TRX price surged by 10%, though it later adjusted according to broader cryptocurrency market trends on February 9.

In late January, TRON founder Justin Sun outlined areas for exploration in 2023, including AI integration and positioning TRX as a currency across five blockchains. TRON plans to form an AI research group and collaborate with major industry players.

The recent rise of ChatGPT has sparked an AI frenzy, impacting both the general tech world and the cryptocurrency sector. Evidence of this trend is seen in the substantial increase in the value of AI-related tokens since early January 2023, alongside a significant surge in searches for "AI investment."

On the evening of February 8, NEAR's price spiked by up to 20% following a Twitter post by NEAR Foundation highlighting the benefits of its blockchain for AI projects, although no specific products were mentioned.

Conversely, DeFi "Godfather" Andre Cronje, who has recently returned to the crypto market and committed to Fantom (FTM), stated that there is no direct connection between blockchain and AI.