Web3 investors say their AI coin projects have potential but are ‘overdone’.
Artificial intelligence coins have risen exaggeratedly
When OpenAI’s ChatGPT was launched in November last year, the AI-powered chatbot quickly created a frenzy among investors. At the same time, the price of cryptocurrencies linked to artificial intelligence has risen exaggeratedly.
“There are about 70 companies with AI-related tokens, and they’ve all been scammed by the ChatGPT launch,” said Vanessa Grellet, managing partner of Aglaé Ventures, when she recently appeared on The Scoop podcast with Frank Chaparro. She also said, ‘We have a lot of attention-getting web2 AI space, and it’s just flowing into the blockchain.’ she added. cryptocoin.com According to the data, the top 10 artificial intelligence coins by market value are listed below.
But that doesn’t mean the world of crypto projects adjacent to AI is suddenly a sure bet for crypto venture capitalists. Grellet said that most of the price spikes come from investors looking for the next big thing in a market where crypto prices have generally plummeted.
New version of search engine announced
Grellet’s comments come at a time when big tech giants Google and Microsoft are locked in an AI search war. Last week, Microsoft announced a revamped version of its Bing search engine powered by technology from ChatGPT creator OpenAI.
This was revealed when Google trumpeted ChatGPT rival Bard earlier this month. These efforts have also prompted traders to turn to AI-driven tokens such as SingularityDAO (SDAO) and SingularityNET (AGIX), which have seen their prices rise by as much as 200%.
Numerous projects offer blockchain-based data analytics and a distributed infrastructure to support decentralized AI and data science models. SingularityNET provides an incentive for individuals to contribute data that improves custom AI models, for example. Users are then compensated with tokens.
Still, CoinShares chief strategy officer and investor Meltem Demirors, who attended The Scoop with Grellet, described many valuations of such early-stage projects as ‘overdone’.
Possible use cases
Still, Demirors said, crypto could have the potential to serve as an enabler for AI applications. As examples of web3 technologies that can be combined with AI, he cited instant swap guarantees, zero-knowledge proofs, and even stablecoin payments with NFTs.
‘On the gaming side and on the art side, we’re seeing really cool things in the generative art where people apply Gan algorithms (a machine learning model) and other learning algorithms,’ the investor said.
Also the investor, ‘Refik Anadol is a famous artist who has really embraced NFTs and has been doing it for years, but there is a lot of new art being produced. People are looking for ways to leverage AI to allow people to create and then publish in-game assets. So again, the AI and crypto component are mixed together, but one does not require the use of the other.’ he continued.
Like Grellet, however, Demirors is wary of the intersection of artificial intelligence and crypto, believing that producing anything of commercial value is a few cycles away.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.