by Jamie Redman
Trends show that artificial intelligence (AI) will be a major topic in 2023, as data indicates a surge in interest. Since interest peaked and Microsoft invested billions into Chatgpt, demand for AI-focused cryptocurrency projects has risen dramatically. For example, the crypto project Fetch.ai has seen its native token FET rise 212% in the past 30 days, and another AI project, Singularitynet, has seen it’s token AGIX increase 293% against the U.S. dollar.
During the week of Jan. 22-28, 2023, the worldwide Google Trends score for the term “AI” was 94 out of 100. In the first week of Dec. 2022, the search term reached its highest Google Trends score 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. In the past two months, the Openai platform Chatgpt or GPT-3 has become a widely used AI phenomenon.
Google Trends shows the worldwide score for the search term “Chatgpt” was 100 during the week of Jan. 22-28, 2023, and it has been rising since the first week of Dec. 2022. Reports also show that Microsoft has entered the third phase of its long-term partnership with Openai through a “multi-year, multi-billion dollar investment,” said to be as much as $10 billion in funding. The growing trend in artificial intelligence (AI) and demand for the technology has spilled over to blockchain projects integrating AI into their protocols.
For instance, a crypto asset created by the project singularitynet.io has seen its native token AGIX rise 293% in the past month. Although singularitynet (AGIX) was down more than 6% on Jan. 29, 2023, it has increased 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 risen 95.9% over the past month. The Fetch.ai project has experienced similar demand over the past four weeks.
Over the past 30 days, the Fetch.ai project’s FET token has risen 212% against the U.S. 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 U.S. dollar in the past 30 days. Ocean Protocol, named a technology pioneer by the World Economic Forum, aims to unlock data at scale through encrypted data monetization.
It is uncertain how long the demand for AI-based crypto assets and the popularity of these tokens will last. All of the AI-related crypto assets are currently ranked below the top 75 in terms of market capitalization and have recently seen price surges due to increased interest in AI/Chatgpt.
What do you think is driving the surge in demand for AI-focused cryptocurrency projects? Share your thoughts in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this … read more.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this … read more.
How To Make Huge Profits In A Short Time With CryptoGet detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.
Crypto + NFT Quick Start CourseThe #1 course for profit in the Crypto & NFT world - You will discover the secrets that 99% of people don’t know yet
