According to a recent research from CoinGecko, a cryptocurrency analysis platform, the price of tokens associated with artificial intelligence (AI) rose after OpenAI’s ChatGPT became originally accessible on November 30, last year.
The move to introduce the premium version of ChatGPT by OpenAI on January 11 reignited investor interest in AI chatbots and caused a rise in the pricing of AI tokens following ChatGPT’s release.
Recent data from CoinGecko also showed that the AI tokens like SingularityDAO (SDAO) and Artificial Liquid Intelligence (ALI), have also experienced consistent rises over the past month.
What changed?
A 16-fold increase in value was observed when comparing the values of AI tokens from 13 February 2022 to 30 November 2023. According to the research, this increase was directly attributable to increased investor interest in the AI story.
The launch of Google’s chatbot Bard and Microsoft’s multi-billion dollar investment were seen as having a beneficial impact on their valuations.
Some tokens have performed better than others; a study reveals that the majority of AI tokens have benefited from the current favourable feelings towards the expansion of this industry.
According to Wilfred Daye, the former CEO of the digital asset management company Securitize Capital, “people are just riding the ChatGPT wave.” He continued, “The phenomena can endure as long as the sentiment is present.”
Significant tokens affected by the growth of AI
The debut of ChatGPT had a significant impact on eight key tokens, according to a new report by the crypto analysis site.
The price of DeepBrain Chain (DBC) increased 16 times from November to trade at $0.006659 on 13 February 2023. SingularrityNET’s price increased by a factor of 10 as a result of this increase, and it is currently worth $0.392236.
Also, the value of the Numeraire (NMR) increased by $11.26 from one month ago to $19.04 as of today. Both SDAO and Ocean Protocol (OCEAN), which currently trade at $0.058846 and $0.436783, saw benefits from the most recent AI growth.
Fetch.ai (FET), ALI, and Botto (BOTTO) all increased by about 7x to reach $0.44, $0.06, $0.36, respectively.