- Livepeer (LPT) and SingularityNET (AGIX) prices soared after OpenAI unveiled its text-to-video AI model Sora.
- The Livepeer team said the community plans to introduce Sora’s features to the blockchain protocol in the coming months.
- LPT surged 80% to over $14.80, with trading volume increasing 3,300% in 24 hours.
Open AI presentation On Thursday, Sora, a text-to-video AI model, heralded a new era in the generative AI space. According to OpenAI, Sora can create highly detailed AI videos with complex camera movements, multiple scenes, and characters.
The announcement sent prices of Livepeer (LPT) and other AI-related cryptocurrencies higher. On Friday, the Livepeer team said it was exploring ways for the community to bring generative video AI capabilities to the platform.
today @Open AI We’ve revealed our research progress on our Sora-generated video AI model with some impressive demonstrations.
This helps show the world just how powerful generative video can be, and advancements in open models are happening faster than ever. But to create these videos… Requires https://t.co/srd1TkV3bY.
— Livepeer (@Livepeer) February 15, 2024
Livepeer, an open live video streaming protocol, says this initiative is part of its goal to provide affordable video production to developers and creators. The Livepeer team is optimistic that these AI capabilities will be implemented on the decentralized video platform in the coming months.
“allAs part of Livepeer’s AI Video initiative, the community is working to bring these capabilities to the Livepeer network in the coming months, providing an affordable and open access point for developers, creators, and users looking to do inspiring work with generative video. .,” was posted on the Livepeer
LPT price surges after Livepeer news
The price of Livepeer’s native token LPT surged more than 80% on Friday, reaching an intraday high of $14.87 across major cryptocurrency exchanges. According to data from CoinGecko, the coin’s trading volume increased by 3,300% in 24 hours, with more than $495 million traded.
As market activity surged, SingularityNET (AGIX) also surged, with the AI token reaching $0.42. SingularityNET’s price increase of over 25% was helped by a 520% increase in daily trading volume. Artificial intelligence market capitalization rose 8%, exceeding 13.5%.