AI Tokens, the newest hype
Starting from the last couple of months of 2022, through to the beginning of 2023, AI has increased dramatically in popularity. Now, artificial intelligence cryptocurrencies have drawn the interest of investors.
AI tokens are regular cryptocurrencies offered by Web 3.0 projects that have some sort of involvement with artificial intelligence. This could be AI-based investment protocols, image or text generation services, AI-based apps or projects. The possibilities are endless with the new technology.
In February 2023, more than 1.6 billion USD was invested into AI cryptocurrencies, sending the total market cap to a massive 4.1 billion USD. Among these, the more fortunate coins that experienced exponential growth were $ALI and $AGIX, with 100% and 200% pumps, respectively.
When it comes to the reason for this sudden increase in popularity, a lot of it may be due to the launch of ChatGPT. The chatbot from OpenAI experienced a massive boom in early 2023, reaching over 100 million users in just 2 months after its launch, breaking a record set by TikTok, which took almost 3 years to reach that number. ChatGPT reported approx. 13 million users per day alone in January. Now, people are starting to see ChatGPT both as a threat and an opportunity.
Many users and people around the world have labeled projects like ChatGPT as being perfect for generating income and improving their quality of life through the use of AI technology. However, there are also others who think that these projects are the result of hype culture and will ultimately not go anywhere.
The truth is that implementingAI technology on the blockchain is no easy task. So, these new AI crypto projects may well prove to be nothing more than hype. But we will have to wait and see how the story develops to have a real sense of what this means for our future.
Sources: decrypt.co, www.youhodler.com, cointelegraph.com, www.livemint.com
analyst opinion
Diego Kebork
AI tokens are regular cryptocurrencies offered by Web 3.0 projects that have some sort of involvement with artificial intelligence. This could be AI-based investment protocols, image or text generation services, AI-based apps or projects. The possibilities are endless with the new technology.
In February 2023, more than 1.6 billion USD was invested into AI cryptocurrencies, sending the total market cap to a massive 4.1 billion USD. Among these, the more fortunate coins that experienced exponential growth were $ALI and $AGIX, with 100% and 200% pumps, respectively.
When it comes to the reason for this sudden increase in popularity, a lot of it may be due to the launch of ChatGPT. The chatbot from OpenAI experienced a massive boom in early 2023, reaching over 100 million users in just 2 months after its launch, breaking a record set by TikTok, which took almost 3 years to reach that number. ChatGPT reported approx. 13 million users per day alone in January. Now, people are starting to see ChatGPT both as a threat and an opportunity.
Many users and people around the world have labeled projects like ChatGPT as being perfect for generating income and improving their quality of life through the use of AI technology. However, there are also others who think that these projects are the result of hype culture and will ultimately not go anywhere.
The truth is that implementingAI technology on the blockchain is no easy task. So, these new AI crypto projects may well prove to be nothing more than hype. But we will have to wait and see how the story develops to have a real sense of what this means for our future.
Sources: decrypt.co, www.youhodler.com, cointelegraph.com, www.livemint.com
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