The hot news surrounding the artificial intelligence (AI) tool ChatGPT is also inspiring an upsurge in AI-focused tokens in the crypto market.
Blockchain AI project SingularityNET led Wednesday‘s AI and big data token board, with its utility token AGIX surging 18 in the past 24 hours and 80 over the past seven days, according to data from CoinMarketCap.
AGIX’s price jump started around Tuesday, following the news that Microsoft plans to invest $10 billion in OpenAI, the startup behind the popular artificial intelligence tool ChatGPT. The token’s price climbed to as high as 10 cents on Wednesday before settling back to 8 cents as of press time.
The token’s trading volume has also surged 529 in the past 24 hours, CoinMarketCap’s data shows.
SingularityNet is a decentralized protocol-backed suite that allows AIs to coordinate in a scalable, interoperable way. In May 2022, SingularityNET and SingularityDAO announced they received $25 million to accelerate AI-backed decentralized finance (DeFi).
The AGIX token, launched in 2018 and rebranded in 2021, works across multiple chains such as Cardano and Ethereum.
Other AI- and big data-related tokens have been on the rise lately, as well. Google of the Blockchain The Graph’s native token GRT has risen 15 over the past seven days, while AI platform Fetch.ai‘s native token FET has surged over 60 over the same time period.
