Following Nvidia’s impressive earnings announcement, the value of artificial intelligence (AI) crypto tokens has skyrocketed. Worldcoin (WLD), created by OpenAI CEO Sam Altman, is currently trading at $8.04, marking a 240% gain in the past month. Similarly, Arkham Intelligence’s native token, ARKM, has surged 211% during the same period, with a current price of $1.68.
Nvidia reported revenues and earnings of $22.1 billion and $12.3 billion, respectively, in Q4 2024, representing significant increases of 265% and 769% compared to Q4 2023. Jensen Huang, the founder and CEO of NVIDIA, attributed this success to the rising demand for accelerated computing and generative AI, stating that it has reached a tipping point and is surging globally across various industries.
AI-focused crypto projects are also taking advantage of this trend. Sleepless, a Web3 AI companion platform supported by Binance Ventures, recently unveiled its roadmap for 2024. They aim to offer authentic emotional communication through AI dialogue and voice experiences that simulate interactions with real humans. Additionally, they teased the release of their flagship AI blockchain game, Her 2.0, which allows users to dress their virtual partners, engage in player-vs-player battles, and earn rewards through card and mystery boxes.
Fetch.ai, an AI platform for decentralized applications, announced a partnership with Deutsche Telecom on February 13. As part of the agreement, Deutsche Telecom will become a validator on the Fetch.ai blockchain. The technology behind this collaboration relies on AI-driven autonomous agents that manage resources, conduct transactions, and analyze traffic flows. Fetch.ai’s services are already being used in sectors such as healthcare, automotive, supply chain management, and digital identities. Deutsche Telekom MMS will also join Fetch.ai at the Bosch Connected Experience, Europe’s largest Internet of Things and AI hackathon, on February 28 and 29.
Bitget, a crypto exchange, reported a remarkable 361% increase in weekly trading volume for its listed AI tokens, along with a 136% increase in the number of participants. Researchers attribute this surge in the AI sector to the launch of OpenAI’s text-to-video model Sora, which can create highly detailed videos up to 60 seconds long, including complex camera movements and emotionally rich characters. This innovation has sparked market interest and enhanced the creativity of AI.
Since 2020, decentralized computing blockchain iExecRLC has been part of Nvidia’s Inception Program, which aims to explore AI edge computing. The project currently boasts a market capitalization of $323 million.
In related news, Y Combinator, a prominent venture capital firm in Silicon Valley, has called on startups to develop stablecoins, metaverse solutions, and AI applications. The firm has already funded 81 cryptocurrency and Web3 startups, including industry leaders like Coinbase, OpenSea, TRM Labs, and Quantstamp. Y Combinator analysts believe that these sectors hold great potential for growth and innovation.
Overall, the AI industry is experiencing a significant boost in value and interest, driven by breakthroughs in technology and increasing demand across various sectors.