Surge of AI tools like ChatGPT give rise to AI-based crypto tokens & NFTs

By Nidhi Bhardwaj: Artificial intelligence (AI)-related cryptocurrency tokens saw an increase in prices after OpenAI's ChatGPT was initially made available on 30 November last year, revealed a recent report from CoinGecko, a crypto analysis platform.

After OpenAI debuted the premium version of ChatGPT on 11 January, the move rekindled the investor's interest in AI chatbots and led to a positive shift in the prices of AI tokens once more after ChatGPT’s launch. Recent data from CoinGecko also showed that the AI tokens like SingularityDAO (SDAO) and Artificial Liquid Intelligence (ALI), have also experienced consistent rises over the past month.

What was the change?

While comparing the prices of AI tokens from 13 February 2022 to 30 November 2023, an increase of value by 16 times was recorded. This surge was directly related to growing investors' interest in the AI narrative, the report highlighted. The contribution of Microsoft's multi-billion dollar investment and the launch of Google chatbot Bard were also perceived to be positively affecting their prices.

Some tokens have outperformed others, the bulk of AI tokens profited from the present bullish sentiments toward this sector’s growth, study suggests.

“People are just riding the ChatGPT wave,” said Wilfred Daye, the former chief executive officer of Securitize Capital, a digital-asset management firm. “The phenomenon can last as long as the sentiment is around, he added.”

Major tokens impacted by the AI growth

According to a recent study by the crypto analysis platform, a total of eight major tokens were largely impacted after the ChatGPT launch.

The value of DeepBrain Chain( DBC) marked a surge in its price by 16 times to trade at $0.006659 on 13 February 2023, from November. This surge was further noticed in the price of SingualrityNET by 10 times, with its current value at $0.392236. Numeraire (NMR) value also rose by $11.26 from the previous month to $19.04 as of today. SDAO and Ocean Protocol (OCEAN) also registered gains by the latest AI growth, recording their current values at $0.058846 and $0.436783, respectively.

Fetch.ai (FET), ALI, and Botto (BOTTO) all increased by about 7x to reach $0.44, $0.06, $0.36, respectively.

Source: https://www.indiatoday.in/