The Rise of AI-Driven Projects in 2023 – Blockchain Bitcoin News
Trends show that artificial intelligence (AI) will be a major topic in 2023, as data indicates renewed interest. Since interest peaked and Microsoft poured billions into Chatgpt, the demand for AI-driven cryptocurrency projects has increased dramatically. For example, crypto project Fetch.ai saw its native FET token rise 212% in the past 30 days, and another AI project, Singularitynet, saw its AGIX token rise 293% against the dollar. American.
There has been renewed interest in AI-driven cryptocurrency projects
During the week of January 22-28, 2023, the global Google Trends score for the term “AI” was 94 out of 100. During the first week of December 2022, the search term reached its Google Trends score the highest of 100. It’s safe to say that the world has become increasingly focused on artificial intelligence (AI) since the release of AI-infused art platforms like Dall-E, Deep AI, Jasper Art, Starry AI, Nightcafe and others. Over the past two months, the Openai Chatgpt or GPT-3 platform has become a widely used AI phenomenon.
Google Trends shows that the global score for the search term “Chatgpt” was 100 during the week of January 22-28, 2023, and it has been increasing since the first week of December 2022. Reports also show that Microsoft entered the third phase of its long-term partnership with Openai through a “multi-billion dollar multi-year investment”, which would represent up to $10 billion in funding. The growing trend towards artificial intelligence (AI) and the demand for this technology has spread to blockchain projects integrating AI into their protocols.
For example, a crypto asset created by the singularitynet.io project has seen its native AGIX token surge 293% over the past month. Although singularitynet (AGIX) was down over 6% on January 29, 2023, it has risen 17.5% over 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 has grown 95.9% over the past month. The Fetch.ai project has seen similar demand over the past four weeks.
Over the past 30 days, the FET token of the Fetch.ai project has risen 212% against the US dollar. The Fetch.ai team says the project creates “autonomous agent technology” for peer-to-peer applications with automation and AI capabilities, with or without direct blockchain access. Another AI-based blockchain project, Ocean Protocol, and its OCEAN token have risen 130% against the US dollar in the past 30 days. Ocean Protocol, named a Technology Pioneer by the World Economic Forum, aims to unlock data at scale through the monetization of encrypted data.
It is unclear how long the demand for AI-based crypto assets and the popularity of these tokens will last. All AI-related crypto assets are currently ranked below the top 75 by market capitalization and have recently seen price spikes due to increased interest in AI/Chatgpt.
What do you think is driving the rise in demand for AI-driven cryptocurrency projects? Share your opinion in the comments below.
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