Inspired by Elon Musk’s recent artificial intelligence venture, XAI coin experienced a notable increase of 49%. Examining the primary catalyst behind this fluctuation reveals a strategic move in the Blockchain gaming arena. The token’s future movements could be shaped according to the trajectory of the artificial intelligence environment.
XAI Coin: A Look at Its Origins and Purpose
Launched this year and named after Elon Musk’s xAI initiative, XAI coin is a creation of Xai Foundation and Offchain Labs. Built on the Arbitrum Layer-2 Blockchain, XAI aims to pioneer the integration of Blockchain technology into the gaming environment, focusing on AAA games.
Let’s note that the term AAA games typically refers to high-budget, large-scale video games that are often developed and published by a major studio. Accordingly, the project’s primary goal is to revolutionize the gaming ecosystem by facilitating the acquisition, ownership, and trade of in-game items in a decentralized and transparent manner.
The Driving Force Behind XAI Coin’s 49% Increase
The surprising price increase of XAI is primarily attributed to the launch of a play-to-earn game by the Orivium startup on the Arbitrum chain, bearing the same name. Described as a “Blockchain-enhanced real-time strategy game,” this game will be supported by XAI technology. This strategic move positions XAI coin at the forefront of the Blockchain-based gaming revolution.
XAI technology brings various game-changing features to strategic play, including low transaction fees, stable gameplay, simple game interaction, and seamless integration of Blockchain wallets. This leap forward signifies significant progress in the field of Blockchain-based gaming experiences.
Since Sunday, XAI coin has shown an impressive increase of 57.77% and is currently trading at $1.03. 3% of the maximum supply of 2.5 billion XAI was allocated for distribution as rewards on Binance during its launch on January 4th. This contributed to the early market dynamics of the altcoin.
Elon Musk’s Impact on the Artificial Intelligence Environment
Tesla and SpaceX CEO and renowned tech entrepreneur Elon Musk entered the artificial intelligence arena in November 2023 by launching the xAI initiative. Musk’s venture, positioning itself as a competitor to OpenAI and its AI chatbot ChatGPT, aimed to address perceived deficiencies in current AI platforms.
Musk’s criticism of OpenAI’s “woke” ChatGPT, which avoids controversial topics, led to the launch of xAI and his own chatbot named Grok. Integrated into the X social media platform for premium subscribers, Grok offers a unique AI-driven interaction for those willing to pay a monthly fee.
