ChatGPT success leads to sharp interest in crypto AI projects

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ChatGPT, the artificial intelligence language model, has attracted millions of users in a very short amount of time. This interest in AI has now spilled over into the crypto space.

Artificial Intelligence (AI) is changing the world as we know it, and is doing so at an ever-increasing rate. Various niches within AI, such as Natural Language Processing, Machine Learning, and Robotics, are gaining traction and are disrupting industry in a massive way.

The crypto space has its own AI niche, and several projects are looking to take advantage of the technology in their own distinct ways. From decentralised machine learning networks, to dataset/algorithm marketplaces, crypto is providing its own unique services.

Fetch AI (FET) has seen its token price climb 480% since ChatGPT launched in November of last year, and SingularityNET (AGIX) increased in price more than 600% over the same period.

Other AI-related crypto projects also did extremely well. Ocean (OCEAN) is up 240%, Cortex (CTXC) 330%, and Vectorspace AI (VXV) 210%. All up since Chat GPT arrived on the scene in November.

In an article published by Kitco on Thursday, a spokesperson for Tradingbrowser.com said of the crypto/AI combination:

“Following Crypto’s tumultuous journey in the previous 12 months, many are searching for a more secure way of trading and investing in Crypto, and that is what A.I. brings to the game, a prompter detection of fraud, risk protection and autonomous trading opportunities,”

The article also looked at Google searches for AI, which were part of a study by Tradingbrowser.com, in order to see if the amount of searches was equivalent to any increase in prices of crypto AI tokens.

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It found that The Graph (GRT) was the most searched for crypto AI token so far in 2023, but that its price rise wasn’t as commensurate with the searches. Even so, the token price of GRT did rise a healthy 75% since the beginning of January.

The Open Application Network (AION) was the second most searched for AI token, and this also went up a relatively decent 56%. Of course, the fact that the whole crypto market has also risen since the start of the year must also be taken into account.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: ryptodaily.co.uk

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