It appears that artificial intelligence (AI), or synthetic intelligence, is becoming a key subject in 2023 as data points to an increased curiosity. Since interest increased in Microsoft investing billions into ChatgptThe demand for AI-focused crypto projects has also soared. For instance, the FET token of crypto mission Fetch.ai witnessed a 212% increase in the last 30 days. There was also a surge in the AGIX token of AI mission Singularitynet, which rose 293% against the US dollar.
Growing Interest in AI-Centric Cryptocurrency Initiatives
The Google Trends score for the term “AI” was 94 out of 100 during the week of January 22-28, 2023. This was the highest year-to-date score for search results on Google Trends. It is clear that the world is becoming more focused on artificial intelligence (AI). This is due to the launch of AI-infused art platforms such as Dall-E, Deep AI, Jasper Art, Starry AI, Nightcafe, and others. In the last two months, the Openai Chatgpt or GPT-3 platform has become a widely used AI phenomenon.
The global search score of “Chatgpt” as seen on Google Trends was 100 by the end of the week ended February 2023. The number of people using the site has increased since the beginning of December 2022. Additionally, reports suggest that Microsoft solidified its long-term relationship with Openai with a “multi-million dollar, multi-year investment,” with estimates ranging from $10 billion to $15 billion. Blockchain initiatives that integrate AI into their protocols have also seen a rise in demand and awareness.
For instance, Singularitynet’s native AGIX token has seen a 293% increase against the US dollar over the last month. While AGIX fell by more than 6% on January 29, 2023, it rose 17.5% in the past two weeks. To facilitate the next era in decentralized AI, the mission is to achieve these objectives. Another Blockchain-powered AI project Vectorspace AI (vspb.science), with its token VXV, has surged by 95.9% in the past month.
Fetch.ai’s FET token has seen a 212% increase against the US dollar in the last 30 days. The mission of Fetch.ai is to create awareness about “autonomous agent technology” for peer-to-peer use with automation and AI capabilities. Another AI-based blockchain mission Ocean Protocol has seen its OCEAN token increase by 130% against the US dollar in the last 30 trading days. Its mission is to unlock data on a large scale through the monetization and exploitation of encrypted data.
It remains to be seen how long the demand for AI-focused crypto projects and tokens will remain. All AI-related crypto assets currently rank below 75th in terms of market capitalization. However, they have not yet seen their value rise due to renewed interest in AI/Chatgpt.
What do you think is driving the growing demand for AI-based crypto projects? Share your thoughts in the comments below.
