ChatGPT Fuels Blockchain Projects

Since the height of interest and Microsoft’s billion-dollar investment in Chatgpt, the demand for AI-driven cryptocurrency ventures has surged tremendously. In the last 30 days, the native FET token of the crypto-currency project Fetch.ai has increased by 212%, while the AGIX token of the AI project Singularitynet has increased by 293% versus the U.S. dollar.

During the week of January 22-28, 2023, “AI” had a Google Trends worldwide topic score of 94 out of 100. On Google Trends, the search phrase got its greatest score of 100 during the first week of December 2022. Since the advent of AI-infused art platforms such as Dall-E, Deep AI, Jasper Art, Starry AI, Nightcafé, and others, it’s reasonable to assume that global interest in artificial intelligence (AI) has increased. The Openai Chatgpt or GPT-3 platform has become a widespread AI phenomenon in the last several months.

According to Google Trends, the worldwide search score for the term “Chatgpt” was 100 for the week of January 22-28, 2023, an increase from the first week of December 2022. Microsoft has begun the third phase of its long-term cooperation with Openai via a “multi-year, multi-billion dollar investment” that might exceed $10 billion, according to the report. The increasing popularity of artificial intelligence (AI) and demand for this technology have influenced blockchain initiatives to include AI protocols.

For instance, the native AGIX token of a digital asset established by the singularitynet.io initiative has increased by 293% over the previous month. Though singularitynet (AGIX) has fallen by over 6% on January 29, 2023, it increased by 17.5% during the preceding two weeks. The goal of the venture is to facilitate the forthcoming generation of decentralized AI. Vectorspace AI (vspb.science), another blockchain-driven AI startup, has a VXV token that has increased by 95.9% over the previous month. Comparable demand has been seen for Fetch.ai during the last four weeks.

The reputation score of the Fetch.ai token FET initiative has improved by 212% versus the U.S. dollar during the past 30 days. The Fetch.ai developers assert that the venture is developing “autonomous agent technology” for peer-to-peer(p2p) solutions with AI and automation abilities, regardless of direct blockchain connectivity. Ocean Protocol and its native ocean token have appreciated by over 130% in the previous 30 days, making it one of the most successful AI-powered blockchain projects. Ocean Protocol, dubbed a technological pioneer by the World Economic Forum, proposes to monetize encrypted information on a massive scale in order to decrypt information at scale.

Uncertain is the duration of the need for AI-linked crypto offerings and the attractiveness of such tokens. Most AI-linked cryptocurrencies are now rated outside of the best 75 in terms of total market capitalization, and their values have lately spiked due to the growing popularity of AI/Chatgpt.