Boom in AI-based blockchain and cryptocurrency projects powered by ChatGPT
Since interest peaked and Microsoft invested billions in Chatgpt, the demand for AI-powered cryptocurrency projects has increased dramatically. For example, cryptocurrency project Fetch.ai has seen its native FET token increase by 212% in the last 30 days, and another AI project, Singularitynet, has seen its AGIX token increase by 293% against the US dollar.
There is growing interest in AI-powered cryptocurrency projects.
During the week of 22–28 In January 2023, the Google Trends global topic score for the term “AI” was 94 out of 100. In the first week of December 2022, the keyword reached its highest score of 100 on Google Trends. It is safe to say that the world is increasingly interested in artificial intelligence (AI) since the launch of AI-infused art platforms such as Dall-E, Deep AI, Jasper Art, Starry AI, Nightcafe and others. Over the past couple of months, the Openai Chatgpt or GPT-3 platform has become a widely used AI phenomenon.
Google Trends shows that the global search score for the Term “Chatgpt” was 100 during the week of January 22 to 28, 2023, and it is up since the first week of December 2022. The information also shows that Microsoft has entered the third phase of its long-term partnership with Openai through a “multi-year investment of several billion dollars“This funding could reach $10 billion. The growing trend of artificial intelligence (AI) and the demand for this technology has spilled over into blockchain projects that incorporate AI into their protocols.
For example, a crypto asset created by the singularitynet.io project has seen its native AGIX token increase by 293% in the past month. Although the Singularity (AGIX) was down more than 6% on January 29, 2023, it has risen 17.5% in the past two weeks. The project aims to support the next generation of decentralized AI. Another blockchain-powered AI project, Vectorspace AI (vspb.science), has a token called VXV that is up 95.9% in the past month. Fetch.ai has seen similar demand over the past four weeks.
In the last 30 days, the Fetch.ai token FET project popularity index has increased by 212% against the US dollar. The Fetch.ai team claims that the project creates a “autonomous agent technology“for peer-to-peer applications with automation and AI capabilities, with or without direct access to the blockchain. Another AI-based blockchain project, Ocean Protocol and its ocean token, has gained more than 130% in the last 30 days. Ocean Protocol , named a technology pioneer by the World Economic Forum, aims to unlock data at scale by monetizing encrypted data.
It is unclear how long the demand for AI-related cryptoassets and the popularity of these tokens will last. All AI-related cryptoassets are currently ranked below the top 75 in terms of market capitalization and have recently experienced price increases due to increased interest in AI/Chatgpt.
