AI-token prices soar as ChatGPT gains popularity

Users have shown significant interest in AI-related crypto tokens. The spike in demand followed reports of a possible Microsoft investment in OpenAI — the creator of ChatGPT. The Block reports this.

According to CoinGecko, nine AI-related coins rose by more than 50% in the last week. However, many of them are low-liquidity, meaning that price moves do not require much time or capital.

The ImgnAI token, linked to an anime-based AI image generator, showed the largest rise. Over the week its value increased by 356.3%, and trading volume over the last 24 hours was $539,187.

The corresponding figure for the more liquid AI token Fetch.ai reached $161.5 million. Turnover over the week rose 79.5%.

Dragonfly Capital managing partner Haseeb Kureshi says the cryptocurrency could play a larger role in the mass adoption of AI. This is especially true in cases where software, bots and autonomous vehicles begin to use money without human intervention, he added.

/3 But there will be agents that use money that are not people, companies, or governments.

AIs will use money. Self-driving cars will use money. IoT devices, long-running software, even physical objects.

Hence crypto’s new API for money:

Cryptographic address => Money

— Haseeb ＞|＜ (@hosseeb) January 9, 2023

“Artificial intelligence and cryptography will be intertwined in such a way that over the next decade this will become clearer. Is this good? Is this bad? Hard to say. But you should be prepared for an explosive combination,” wrote Kureshi.

The Block journalists attempted to ask ChatGPT why it needs money. The bot said it needs to pay its bills, but did not name the most attractive token for this purpose.

“To pay for its own maintenance and upgrades the same way people use money to sustain and improve their standard of living,” wrote ChatGPT.

In January, media reports said that Microsoft planned to invest $10 billion in OpenAI, with a subsequent 49% stake in the startup.

In December 2022 the company introduced the chatbot ChatGPT. It can write essays, answer questions and generate code.

In the same month, Ethereum co-founder Vitalik Buterin tested the system’s programming capabilities. In his view, AI will not replace humans in the near future.

Subscribe to ForkLog news on Telegram: ForkLog AI — all the news from the world of AI!