Artificial Intelligence and Cryptocurrency: The Rise of AI-Focused Projects in 2023

Trends present that synthetic intelligence (AI) will probably be a serious subject in 2023, as knowledge signifies a surge in curiosity. Since curiosity peaked and Microsoft invested billions into Chatgpt, demand for AI-focused cryptocurrency tasks has risen dramatically. For instance, the crypto undertaking Fetch.ai has seen its native token FET rise 212% up to now 30 days, and one other AI undertaking, Singularitynet, has seen it’s token AGIX enhance 293% in opposition to the U.S. greenback.

There’s Been a Surge in Interest in AI-Focused Cryptocurrency Projects

During the week of Jan. 22-28, 2023, the worldwide Google Trends rating for the term “AI” was 94 out of 100. In the primary week of Dec. 2022, the search time period reached its highest Google Trends rating of 100. It’s protected to say that the world has turn out to be more and more centered on synthetic intelligence (AI) because the launch of AI-infused artwork platforms like Dall-E, Deep AI, Jasper Art, Starry AI, Nightcafe, and others. In the previous two months, the Openai platform Chatgpt or GPT-3 has turn out to be a broadly used AI phenomenon.

Google Trends reveals the worldwide rating for the search term “Chatgpt” was 100 in the course of the week of Jan. 22-28, 2023, and it has been rising because the first week of Dec. 2022. Reports additionally present that Microsoft has entered the third part of its long-term partnership with Openai by way of a “multi-year, multi-billion dollar investment,” said to be as a lot as $10 billion in funding. The rising development in synthetic intelligence (AI) and demand for the expertise has spilled over to blockchain tasks integrating AI into their protocols.

For occasion, a crypto asset created by the undertaking singularitynet.io has seen its native token AGIX rise 293% up to now month. Although singularitynet (AGIX) was down greater than 6% on Jan. 29, 2023, it has elevated 17.5% over the previous two weeks. The undertaking goals to assist the subsequent era of decentralized AI. Another blockchain-powered AI undertaking, Vectorspace AI (vspb.science), has a token referred to as VXV that has risen 95.9% over the previous month. The Fetch.ai undertaking has skilled comparable demand over the previous 4 weeks.

Over the previous 30 days, the Fetch.ai undertaking’s FET token has risen 212% in opposition to the U.S. greenback. The Fetch.ai staff says the undertaking creates “autonomous agent technology” for peer-to-peer functions with automation and AI capabilities, with or with out direct blockchain entry.” Another AI-based blockchain undertaking, Ocean Protocol, and its OCEAN token have risen 130% in opposition to the U.S. greenback up to now 30 days. Ocean Protocol, named a expertise pioneer by the World Economic Forum, goals to unlock knowledge at scale by way of encrypted knowledge monetization.

It is unsure how lengthy the demand for AI-based crypto property and the recognition of those tokens will final. All of the AI-related crypto property are at present ranked under the highest 75 when it comes to market capitalization and have just lately seen value surges attributable to elevated curiosity in AI/Chatgpt.

What do you suppose is driving the surge in demand for AI-focused cryptocurrency tasks? Share your ideas within the feedback under.