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Following the introduction of OpenAI’s artificial intelligence that converts text to video, named Sora, altcoins related to artificial intelligence have seen significant increases in value. This has boosted optimism among investors who see artificial intelligence as a potential profit factor this year.
Artificial Intelligence Altcoins, Including Worldcoin’s WLD, Experience Sharp Increases
The growing hopes surrounding altcoins related to artificial intelligence have led to significant price increases in this category. According to data from the crypto data and price platform CoinGecko, AI sector altcoins have experienced an average jump of 7.7% in the last 24 hours.
Worldcoin‘s WLD rose by 30%, reaching an all-time high of 7 dollars. Ocean Protocol‘s OCEAN and Fetch.AI‘s FET led the rally with gains of over 10%.
Particularly notable was the rise of Worldcoin, especially since it was founded by OpenAI’s CEO, Sam Altman. This connection led some investors to view WLD as a bet on OpenAI’s growth expectations, contributing to the impressive price movement.
On the other hand, the co-founder of the altcoin king, Ethereum (ETH), Vitalik Buterin’s suggestion of potential applications for artificial intelligence in the monitoring of smart contracts further increased interest in AI-related altcoins. This support led to increases of up to 15% for lesser-known altcoins like 0x0 and TokenFi’s TOKEN due to their associations with the topic.
AI Altcoins on the Move with “Sora”: Questions Remain!
Interest in altcoins related to artificial intelligence first increased at the beginning of 2023 with the rising popularity of ChatGPT and AI-based image creation software. Although this interest had waned in recent months, OpenAI’s announcement of Sora last week reignited interest in the sector and once again pushed the prices of AI altcoins higher.
Despite the optimism surrounding altcoins related to artificial intelligence, developers are expressing concerns about the practical use of altcoins in AI systems. Biconomy’s marketing director Aditya Khanduri highlighted unanswered questions and the need for clarity, especially regarding infrastructure, data usage, and incentive methods, on how these altcoins will adapt to decentralized artificial intelligence tools.
