ai16z’s token soared more than 50% on November 18 after top executives of the token’s namesake venture firm a16z acknowledged the project in a post on the X platform.
ai16z boasts a decentralized autonomous organization (DAO) led by an artificial intelligence (AI) agent named Eliza. Although the name references the famous startup a16z, the company is not directly related.
On November 18, an
Shaw, one of the founders of ai16z, posted a message on X asking people to contact a16z. Lazzarin immediately responded, “Check out (the direct message),” hinting at his openness to working with the DAO publicly.
According to CoinGecko, in the last 24 hours, ai16z’s token price has risen by almost 55%. Since its launch on October 24, it currently trades with a market capitalization of more than $480 million.
source: ai16z
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“If you compare this meta to the DeFi summer, $ai16z is the $AAVE of this world… the technology everyone is forking,” anonymous cryptocurrency influencer 0xMerp said in an
Merp is citing the prominent role of decentralized finance (DeFi) protocol Aave in DeFi’s 2021 bull market.
ai16z aims to directly invest in the blockchain ecosystem and support projects utilizing decentralized AI.
“DAO holders will have the opportunity to advise on investment decisions, and our AI will diligently track the performance of these recommendations,” ai16z said in an Oct. 24 announcement.
“People whose insights consistently produce positive outcomes will earn the trust and confidence of our AI.”
Source: CoinGecko
According to a16z’s website, ai16z is managed by Eliza, a “flexible AI tool for creating unique, interactive characters that can connect to Discord and Twitter.”
Eliza “can read links, PDFs, audio, and video, remember conversations, and summarize them for easy review.”
Ultimately, ai16z aims to “deploy a network of expert agents, each optimized to perform essential functions within the digital realm, from welcoming new members, facilitating discussions, participating in online social games and beyond,” it said on October 24. It was revealed.
Agentic AI has become a hot topic among liquid token investors after a16z co-founder Marc Andreessen donated $50,000 worth of Bitcoin (BTC) to Truth Terminal, a semi-autonomous AI agent, in July.
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