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The artificial intelligence sector within the blockchain space continues to make headlines. Accordingly, Brian Rose, CEO of London Real Ventures, predicts a significant increase in AI-generated metaverse projects and Web3 game content by 2024. The prominent figure stated in his remarks that artificial intelligence, as a producer, will play a critical role in shaping this digital frontier.
High Interest in the Artificial Intelligence Sector
Brian Rose, in his statement on the subject, revealed that London Real Ventures has invested in more than 20 metaverse-based ventures, and more than half of them have a strong artificial intelligence component:
“At London Real Ventures, we believe that Web3 games will bring the next billion users to the blockchain space. And since artificial intelligence will be responsible for the construction of 99% of these metaverse projects, 2024 will not only bring a bull market but will also change the rules of the game with the convergence of artificial intelligence and the Web3 space.”
Crypto assets related to the latest developments in the field of artificial intelligence are entering the new year with triple-digit gains throughout 2023. Jeff Fang, Co-founder of Sei Labs, commented on the subject:
“The rise of artificial intelligence in the crypto sector is influenced by various factors such as users’ increasing interest in AI, technological advancements in the industry, and the ongoing development of AI-focused blockchain projects.”
AI-Focused Projects Delight Investors
Fetch.ai’s native cryptocurrency FET gained over 590% in value last year. Fetch.ai focuses on automating business tasks, especially in data processing and trading, using artificial intelligence and machine learning.
Another crypto asset related to artificial intelligence that outperformed the crypto market is Render, a platform that helps artists access computing power to create productive AI art. The platform’s native cryptocurrency, RNDR, gained over 870% in value last year.
While many analysts believe that the collaboration between artificial intelligence and Web3 is ushering in a new era of digital innovation, the market value of tokens associated with this sub-sector is still small compared to major crypto assets. However, the promising performance of AI-related tokens in recent times reveals investors’ expectations that the convergence of artificial intelligence and blockchain technologies has the potential to be transformative for the entire sector.
