Microsoft and Google’s chatbot mania inspires a surge in AI and big data tokens

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Artificial intelligence (AI) and data-focused cryptocurrencies are driving the latest market boom.

AI and big data tokens are gaining value in response to the growing interest in AI chatbots. Microsoft released its Bing search engine with ChatGPT integration, while Google promoted its Bard bot.

The value of crypto assets in the AI and big data sectors has increased. According to CoinGecko statistics, Big data protocol (BDP), the native token of a new decentralized data marketplace, tops the pack with a 1,400% rise over the last week, trading at roughly $0.48.

It is closely followed by tokens focusing on artificial intelligence, such as SingularityDAO (SDAO) and SingularityNET (AGIX), with increases ranging from 170% to 200%. Other noteworthy gainers in the AI and data intelligence sector include Fetch.ai (FET), measurable data (MDT), matrix AI network (MAN), deep-brain chain (DBC), oraichain (ORAI), and Vectorspace AI (VXV), with price increases ranging between 75% and 95%.

Recent panic around text and picture creation models such as ChatGPT, StableDiffusion, and DALL-E has driven speculative rises in niche-specific cryptocurrencies.

Various initiatives provide blockchain-based data analytics and a distributed infrastructure to enable decentralized AI and data science models.

SingularityNET incentivizes users to submit data that, for instance, enhance private AI models. Then, the users are reimbursed with tokens. By allowing people to contribute data and processing power over a distributed network, projects like DeepBrain Chain minimize the cost of training AI models.

Despite the fact that investors seem to be flocking to these tokens, not everyone is persuaded.

“Blockchain and AI are not complimentary, and (for the time being) everyone jumping on the ‘AI’ bandwagon is doing it for pump-and-dump purposes,” stated Andre Cronje, principal developer at Fanton.

According to the creator of Yearn Finance, projects that pivot towards AI are likely out of viable concepts and “dead in the sea.”

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