This AI token jumped 900% in 2023 as artificial intelligence hype mounts

As systems like SingularityNET AGIX and OpenAI’s text-based tool ‘ChatGPT’ become more widely used, interest in artificial intelligence (AI) applications has increased. Microsoft’s (NASDAQ: MSFT) $10 billion bet in ChatGPT suggests that artificial intelligence programs will become more commonplace in the coming years.

AGIX, an AI native token of SingularityNET, is capitalizing on this as it has tallied huge gains since the start of 2023. In the past week, the token has climbed 170% from $0.17 to $0.46, with AGIX up at the time of publication by 36.9% in the last 24 hours.

When looking at the price of the tokens since the beginning of the year, it is even more remarkable because it was trading at $0.045 on January 1, when compared to its price on February 6, using Finbold’s percentage calculator, it is now up 922% since the beginning of the year.

The token now ranks 79th after adding over $500 million to its market cap since the start of the year.

What Is AGIX?

As the first decentralized artificial intelligence market, SingularityNET is based on the Cardano blockchain. Dr. Ben Goertzel, a cognitive scientist and a pioneer in the field of artificial intelligence, founded the project. The goal of the undertaking is to develop an AGI, or artificial general intelligence.

The protocols that make up the SingularityNET ecosystem are either in the process of being constructed or have already been deployed as a fully functional component of the ecosystem.

The SingularityNET ecosystem has seen highly promising on-chain advances. SingularityNET’s path to developing an AGI is becoming closer by the day, as reported in a recent blog post by the ecosystem. 

So far, efforts to create MeTTa, a programming language tailored to achieve SingularityNET’s aims, have proven fruitful. To coincide with the language’s alpha release in 2023, the Distributed Atomspace (DAS) knowledge repository will also debut that year. 

Finally, AGIX was included in Finbold’s top 5 Artificial Intelligence cryptocurrencies to buy in 2023.

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