An unknown trader made $176,000 on the new SORA token, which is not affiliated with the new text to video AI, by investing only 0.049 ETH ($137).
As Lookonchain analysts pointed out, the trader spent 0.049 ETH ($137) to purchase 16 million SORA, after which trader sold 12.36 million SORA for 36.57 ETH ($102,492).
The SORA token was created shortly after the launch of the generative artificial intelligence model of the same name from OpenAI. However, the coin is not affiliated with the development team.
In total, the same trader is in the green about 1280x of their initial investment, or about $176,000.
Over the past 24 hours, the price of the SORA token has decreased by almost 20%, and at the time of writing is $0.01591.
OpenAI introduced a new neural network, Sora, for video generation. The company says Sora can create realistic and fantasy scenes using text instructions. The text-to-video model allows users to create photorealistic videos up to a minute long from text descriptions.
Meanwhile, the Worldcoin project token, associated with OpenAI founder Sam Altman, grew by more than 40% in a day and set an all-time high. In weekly terms, the increase was about 180%. The growth of the WLD’s rate, some analysts believe, can be attributed to the recent announcement of OpenAI’s generative neural network for video, Sora.
Source: https://crypto.news/trader-made-1280x-profit-on-sora-token/