AI tokens experience a surge following ChatGPT's hype, AGIX leads the way
The price of the AGIX token increased significantly after the announcement that Microsoft is planning to invest $10 billion in OpenAI
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The recent attention surrounding the AI tool ChatGPT has led to a surge in interest and investment in AI-related crypto. One specific project, SingularityNET, saw its token AGIX rise 18 percent in the past day and 80 percent in the past week.
SingularityNET is a project that aims to create a network for connecting AI and machine learning tools to work together to create a general intelligence. The AGIX token is used to enable the core functionality of the platform and is used for transactions, payments, rewards and decisions making on the platform.
According to the SingularityNET website, it will not charge any fees for transactions on its platform. Instead, the funding for the network's operations will be decided democratically by the participants, who will direct a portion of newly created tokens to entities that are improving and maintaining the network's infrastructure and tools.
"We believe that putting the community in charge of the system will tend to make the system act for the benefit of the community," the website reads.
The price of the AGIX token increased significantly starting from Tuesday after the announcement that Microsoft is planning to invest $10 billion in OpenAI, the company behind the popular AI tool ChatGPT.
