The recent launch of ChatGPT, a prototype AI chatbot developed by OpenAI, has generated a huge amount of buzz on Twitter. The chatbot, based on OpenAI’s GPT-3.5 language model, has received praise for its detailed and articulate responses. This new narrative has also led to a rally in the AI crypto sector, with many AI tokens experiencing significant gains. In fact, AI index gained over 30% during last 2 weeks.
Read our article to understand what’s happening and what’s coming next.
OpenAI is a leading artificial intelligence research institute founded in 2015 by a group of prominent researchers and entrepreneurs, including Elon Musk and Sam Altman. The organisation’s mission is to promote and develop friendly AI that benefits humanity as a whole.
Since its inception, OpenAI has made significant contributions to the field of AI, including the development of GPT-3, the largest and most powerful language model to date. The organisation has also partnered with various companies and institutions to advance the state of AI research and applications.
The recent launch of ChatGPT, a prototype AI chatbot developed by OpenAI, has generated a huge amount of buzz on Twitter. The chatbot, based on OpenAI’s GPT-3.5 language model, has received praise for its detailed and articulate responses. Since its launch, ChatGPT has become a hottest topic on Twitter: people are creating business plans, writing poems and rap songs and even creating a full-working applications only using chat interface. This tool was so powerful that is not only lead to over 1m user base gain in a first day of release, but also started… a local rally in cryptocurrencies?
AI and Crytpo
Both AI and crypto are disrupting traditional industries and opening up new opportunities for innovation and growth. AI is being used in a wide range of applications, from business planning and management to code generation and creative works. Crypto, on the other hand, is transforming the way we think about money and financial transactions.
Total of 65 coins are now claiming they are related to AI according to CoinMarketCap.
Here are some industry leaders:
- Fetch (FET) is focused on using AI to improve the efficiency and accuracy of blockchain-based systems.
- Utility: FET coin is used to power the Fetch.ai network, which allows users to create and run autonomous agents that can perform tasks such as data analysis and smart contract execution.
- Numeraire (NMR) is an AI-powered crypto hedge fund that uses machine learning algorithms to make predictions about the stock market.
- Utility: NMR coin is used to incentivise data scientists to contribute their knowledge and expertise to the Numeraire network.
- Cortex (CTXC) is a cryptocurrency that uses AI to enable the creation of smart contracts on the blockchain.
- Utility: CTXC coin is used to power the Cortex network, which allows users to create, execute, and enforce smart contracts using AI technology.
- Velas (VLX) is a promising crypto coin that is built on an AI-powered blockchain.
- Utility: VLX coin is used to incentivise users to contribute their computing power and data to the Velas network.
- Ocean Protocol (OCEAN) is an AI cryptocurrency that is focused on enabling the exchange and sharing of big data on the blockchain.
- Utility: OCEAN coin is used to incentivise users to contribute their data to the Ocean Protocol network, where it can be securely accessed and used by other users for a variety of purposes.
- SingularityNET (AGI) is an online marketplace for AI algorithms, where users can buy and sell AI services using the AGI coin. The SingularityNET platform is powered by a decentralised network of AI algorithms, which allows users to access a wide range of AI capabilities without the need for centralised control.
Earning on narratives
Since the launch of ChatGPT, the AI crypto sector has experienced significant growth, with many AI tokens reaching their ATH. In fact, buying all AI tokens as index would have resulted in a profit of over 35% since November 30th. However, the best strategy is to carefully select the most strong and promising projects. Here are some examples of AI tokens that have reached local highs after the launch of ChatGPT:
- FET: +99%
- NMR: +66%
- CTXC: +150%
- GLQ: +85%
- AGIX: +50%
Trading and investing in narratives, not just a marketing — is one of the most profitable and non-risky strategies on a market. By carefully selecting the most promising projects, you could easily make over 100% on your investments in just one week!
There are a few potential trends and developments that could impact the future of AI tokens in crypto. For example, as AI technology continues to advance, we can expect to see more AI tokens that are focused on specific applications and use cases, such as trading, logistics, security and governance. This could lead to increased specialisation and competition within the AI token market.
Another trend to watch is the growing use of AI for decentralised finance (DeFi) applications. Many DeFi projects are using AI to improve the efficiency and accuracy of their operations, such as by automating trading processes, working with liquidity providing and MEV.
Overall, it is clear that AI technology will continue to play a significant role in the development and growth of the crypto market. As AI technology continues to advance, we can expect to see more innovations and developments in the use of AI tokens in crypto.
If you were searching for an upcoming strong AI crypto project, my own pick is GBC.AI.
GBC.AI aims to develop an AI framework for the blockchain industry, allowing developers to easily integrate AI into blockchain-based systems. The project will focus on areas such as predictive models, computer vision, and natural language processing, with the goal of creating AI-powered algorithms that can help blockchains evolve and optimise their settings. GBC.AI also recently introduced a “Wallet Guardian”, the «blockchain guardian» concept, which involves using AI to monitor and optimise the performance of blockchain networks.