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AI-powered crypto tokens are experiencing unprecedented growth as the global IT landscape evolves. These tokens, used for transactions on AI platforms, drive technological innovation and offer significant governance and participation opportunities to their holders.
AI Tokens Fuel Growth in Tech Platforms, Offering Payment Solutions and Governance Participation
In a recent report by U.Today, AI tokens are the money for transactions on AI-powered platforms, allowing users to pay for services, access data, and participate in platform activities. Certain AI tokens also give holders governance rights, letting them participate in decision-making processes affecting the project's evolution.
Often, AI tokens incentivize users to contribute to the protocol or project by rewarding them for activities such as providing data, offering computational resources, or developing AI applications. Despite the recent euphoria, measures for the key AI tokens point to additional sector expansion.
AI Token Market Soars, Outpacing Bitcoin as It Shapes Future Tech Landscapes
The AI token market has expanded dramatically recently, with trading volumes and market prices skyrocketing across multiple exchanges. However, despite significant advances in AI technology, this industry is still in its early days.
The rise in AI-linked crypto tokens underscores the enormous potential of this emergent asset class as the AI boom continues to shape the global IT landscape. This rise has been particularly impressive, even with Bitcoin's recent climb to a new high of $73,600.
AI Tokens Surge, Led by Worldcoin and Boosted by High-Profile Endorsements and Innovations
On February 22, sector tokens rose by an average of 7.7%, with Ocean Protocol's OCEAN and Fetch.AI's FET up more than 10%. The CoinDesk 20 Index (CD20), which tracks major cryptocurrencies, climbed by 2.68% over the same period.
Worldcoin's WLD experienced the most increase among AI tokens, rising 30% to a new all-time high of $7. Worldcoin, founded by OpenAI CEO Sam Altman, is viewed by some traders as a bet on OpenAI's future success.
Ethereum co-founder Vitalik Buterin's tweet on AI potentially auditing smart contracts boosted lesser-known tokens like 0x0 and TokenFi's TOKEN, which rose by up to 15% due to their involvement with the topic.
Despite the recent euphoria, multiple measures for important AI tokens indicate additional sector growth.
Fetch.ai (FET)
Fetch.ai is a platform that provides tools for developing, deploying, and monetizing AI services without changing existing APIs. It integrates many integrations to build new services that a single prompt may access.
An AI lab based in Cambridge was founded in 2017 and debuted on Binance in 2019. Its technology, which has been a mainnet since 2020, combines decentralized machine learning with a distributed ledger.
The system employs self-contained software agents to optimize services, support IoT devices, and provide secure communication and automation. These agents can conduct independent searches, negotiate, trade knowledge, and share forecasts and values.
Fetch.AI relies on its native token, FET, as the primary payment for network transactions and services. Access to the platform's services, data, infrastructure, and AI algorithms requires FET. It is also used to register, stake, and reward network users.
Photo: Microsoft Bing
