AI-related tokens have rallied over the past 24 hours, with native cryptocurrencies related to SingularityNET and Worldcoin posting double-digit gains.
The boost comes amid hype surrounding the unveiling of OpenAI’s Sora text-to-video generator on Friday. AGIX, the native token of SingularityNET, a decentralized marketplace for AI-related services, has risen more than 11% in the past day and is currently trading at $0.52.
World Coin Price world
+30.04%
The token is said to have increased by more than 28% in the last 24 hours and is currently trading at $7.51. This is The Block’s price page. WLD also hit a new all-time high of $7.95 today, briefly exceeding the WorldCoin market cap. 1 billion dollars. Worldcoin is backed by Tools of Humanity, a company where Sam Altman is co-founder and chairman. Altman is also the CEO of OpenAI.
AI token market capitalization soars
In the last 24 hours, CoinGecko’s list of AI tokens has seen an increase of over 8%, with the sector’s market capitalization currently hovering around 5%. 15 billion dollars.
Other major AI-related cryptocurrencies, such as Fetch.ai’s native token, FET, are up more than 5% in the last 24 hours. Fetch.ai focuses on using AI and machine learning to automate business tasks, especially in data processing and trading.
In an interview with The Block about the recent surge in AI token prices, Fetch.ai CEO and founder Humayan Sheikh said he expects the global use of AI to grow exponentially, impacting the blockchain industry. “The decentralized architecture of blockchain technology in particular makes it well-suited to AI applications and sets the stage for widespread adoption of blockchain, which until now has largely been limited to financial applications,” said Sheikh.
Fetch.ai founders pointed out that the complexity of the web3 user interface is a major factor contributing to the relatively slow adoption of blockchain applications in mainstream use. “In response, AI brings powerful automation capabilities to space, fostering innovation and opening the door to the development of a variety of applications that can be built on blockchain,” Sheikh added.
The surge in prices in the AI-related cryptocurrency sector comes as the broader market has been slowly rising, with the GMCI 30 index rising from 104 to 113 last week.
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