Crypto

Clamor For ChatGPT Sends AI-Related Crypto Coins Soaring

02/15/2023
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Following the hype around openAI’s ChatGPT, AI cryptocurrencies have become a popular investment as the latest blockchain subculture to take the spotlight. Investors are now flocking to invest in AI cryptos, not just for profit but also to tap into this new era of industrialization. With this trend, ChatGPT’s founder believes AI will power economic development.

The excitement around ChatGPT came as the artificial intelligence (AI) tool delivered a wide range of use cases, making it a market with limitless possibilities. Among its many offerings, the tool allowed coders to identify errors in their work. Writers could also discover tips to advance their creativity while students learn new concepts simpler than by reading through extensive data. With other applications, one could generate art and audio with just a few AI-generated insights.

Crypto Enthusiasts Latching Onto AI Technology

Crypto hobbyists and enthusiasts have latched onto AI technology, given its relationship to the blockchain. With some looking to AI for crypto predictions and others for financial advice, developers’ interest is now tipping towards artificial intelligence to develop new lucrative projects. Even venture capitalists are now flocking to 2023’s AI scene.

Among the most popular crypto projects built around the AI theme include SingularityNET (AGIX), Fetch.ai (FET), Artificial Liquid Intelligence (ALI), and Ocean Protocol (OCEAN), among others.

SingularityNET (AGIX)

Launched in 2018, SingularityNET is a standalone AI crypto project with a remarkable market cap worth $420 million. Its native token, AGIX, soared 1500%, rising from a mere $0.04 to a high of $0.65 in 2023. At the time of writing, AGIX was trading at $0.36, up 130% in the last month. 

 The project features a wide range of tools on its network and touts itself as an ‘AI marketplace’ using blockchain technology to produce AI services for demo, purchase, and installation. More interestingly, SingularityNET has its own automatic staking service and metaverse experience. In its latest development, the AGIX token has secured a listing on DigiFinex.

From a developer perspective, the most significant edge that SingularityNET rides on is the ability to upload one’s AI tool to the network, which explains why the network’s publishing services thrive by presenting the product before the right audience for downloading and training the AI to expand its dataset.

Fetch.ai (FET)

AI Crypto - Fetch.ai
Source: MEXC Blog

Fetch.ai is another popular AI crypto coin, with a market cap of $307 million after soaring 555% between the January 2023 opening and its high of $0.59. The token is up 61% in the last month, and 14% year-to-date as cryptocurrency users continue using this AI crypto coin as a means of automatically negotiating and processing transactions.

This AI crypto coin’s success comes from its feature allowing users from different industries to transact with each other remotely and without an intermediary. Once the parties agree on the terms, the transaction is executed on the blockchain using the native FET token.

Artificial Liquid Intelligence (ALI)

Artificial Liquid Intelligence (ALI) is an AI crypto famous for powering a framework for a world of artificial intelligence-fueled decentralized applications (dApps). The potential for these dApps is only limited by their developers’ creativity.

At the time of writing, ALI was trading at $0.06, 72.6% higher after two weeks and 77% above its price one month ago. While it is one of the youngest AI cryptos, ALI has managed to take its rightful place within this surging market of AI cryptocurrencies. Since the beginning of 2023, ALI has risen by as much as 900%. It currently has a live market cap of $206.4 million with a 24-hour trading volume of $2.15 million as investor interest among AI crypto enthusiasts continues to grow.

Notably, the ALI ecosystem has some technology that gives it an edge over other AI crypto coins. Its CharacterGPT tool enables users to describe characters in plain language and distinguishes them from others in the field. The prompt ensures that ALI’s AI technology can develop a unique, completely interactive character.

Thanks to the ALI ecosystem, dApp developers can use the CharacterGPT tool to create their very own characters that will then serve at the creators’ command. Right from its nascent stages, the tool allowed developers to present their products and services to their customers.

Ocean Protocol (OCEAN)

To begin with, OCEAN Protocol, though an AI crypto, is different from its peers as it does not use artificial intelligence. Instead, the network is a data market, working with something inextricably associated with the AI market.

The OCEAN token has witnessed one of the steadiest trajectories this year, gaining up to 240% in a day at one point to reach a high of $0.55. At the time of writing, OCEAN was trading at $0.43 after gaining 63.1% in the last month.

As a data market, the protocol brings owners of valuable data in contact with customers that need the data. As AI needs to keep taking in new data to become more robust, it is clear where the network’s role comes in as AI developers turn to the protocol to buy sets of valuable data and expand their tools’ abilities.

For some time, the Ocean Protocol featured among the top 100 cryptos globally by market cap. However, after the tides changed in the market in 2021, the token quickly lost its position. Nevertheless, the rise in AI cryptos continues to grow, and with the recent hype, the current trend in the crypto-investing subculture may spring the OCEAN token up to regain its lost glory.

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Source: https://insidebitcoins.com/news/clamor-for-chatgpt-sends-ai-related-crypto-coins-soaring