AI hype infects crypto tokens
While the crypto industry fell into winter after scandals and crashes, the AI sector has turned up the heat so much in 2023 that even the world’s most valuable companies have become even more valuable. The AI hype surrounding OpenAI, Nvidia and Co is now even having an impact on the crypto world. Tokens associated with AI have shown strong growth in the last few days.
Of course, there is the controversial Worldcoin token (WLD). As reported several times, it is expected to become a global currency for payments on a network in which each participant has been identified via a facial scan. This has nothing to do with AI at first glance, but indirectly both are strongly connected.
Since one of the founders of Worldcoin is OpenAI CEO Sam Altman himself, this is enough to boost the awareness and popularity of WLD. When OpenAI introduced the new text-to-video model Sora, WLD immediately rose to the top. The controversial project, which has received a lot of criticism, could soon receive new momentum. There will be news about Worldcoin soon.
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In addition to WLD, several other tokens are attributed to the AI industry. One of them is RNDR, the token for the Render Network. This wants to build a decentralized GPU rendering network for artists who need computing power for generative AI creations on blockchains such as Ethereum and Solana. The project was started in 2017, but only now is the RNDR token getting caught up in the AI hype.
Another token is the GRT from The Graph, which doesn’t have anything directly to do with AI. However, a lot is currently being interpreted into the decentralized data market because it could also create a decentralized ecosystem for AI applications. Data is the basis of all LLMs, and anyone who needs it could also organize it via The Graph in the future.
Much closer to the AI topic is Fetch.ai, which sees itself as an open platform for AI agents. Concerning crypto assets, AI chatbots similar to ChatGPT could also make their services available for a crypto fee and thus earn money themselves – or for their creators.
Fetch.ai’s newest partner is SingularityNET, whose AGIX token is also showing strong growth. Together, the two companies want to solve a major problem facing LLMs – hallucinations. Together they want to make it possible to feed large language models with data secured on blockchains to increase the quality of chatbots. How and whether this will succeed remains to be seen, but in any case, the prices of their crypto assets are currently benefiting from it.
