Interest in artificial intelligence (AI) is witnessing a resurgence in both the mainstream and altcoin industry. After the recent bull run of SingularityNET (AGIX), Fetch.ai (FET) and Ocean Protocol (OCEAN), two more new altcoins have skyrocketed with partnership news.
Artificial intelligence-focused altcoin project rose in double digits with news of partnership
Amid the growing list of AI-driven altcoins gaining traction, came a surprise entry from Near Protocol. Native token NEAR is rallying over 15% at the time of writing. While the AI market has rallied in recent days, Near retweeted a community post with the message “AI is NEAR”, which was appreciated by NEAR investors and the community.
According to the post, Near creates a value layer to set rules and prices for data, which other applications and protocols can then use in an open, honest and transparent approach. The double-digit effect of the news within minutes was remarkable…
AI is #NEAR 👀 https://t.co/0Uc8a2NIEn
— NEAR Protocol | Create Without Limits (@NEARProtocol) February 8, 2023
NEAR Protocol (NEAR) quickly priced 15%
The rally surpassed 20% at one point during the day, with subsequent selling seeing some correction. NEAR is currently trading above $2.7. This level was the support zone in November when FTX went bankrupt.
TRON DAO launches development fund for artificial intelligence (AI) focused altcoin projects
The decentralized autonomous organization behind the TRON (TRX) ecosystem has announced that it has set up a $100 million Artificial Intelligence Development Fund. Aiming to accelerate the blending of blockchain and AI technologies, the new fund will focus on four main areas: AI Service Payment Platform, AI Infused Oracles, AI Informed Investment Management Services and AI Generated Content.
Tron (TRX) price spikes
Tron’s rally was not as strong as NEAR. TRX price gained around 10% simultaneously with the news. It is currently trading at $0.06697 with some correction.
cryptocoin.com We have cited Tron founder Justin Sun’s new decentralized payment framework plan. The latest news confirms that the Tron ecosystem is willing to spend more in this space.
What is changing in the Tron network?
Specifically, the development of TRON’s AI Service Payment Platform envisions providing “self-learning, on-the-go, adaptive capabilities in all aspects of decentralized commerce” such as smart contract creation and deployment, payment layer protocols, AI payment gateways.
According to TRON DAO’s press release, the creation of AI Oracle will take place on TRON’s network and data-driven Layer 2 Blockchain BitTorrent, facilitating decentralized data management to create a new, decentralized, intelligent financial ecosystem enhanced by AI.
As for AI Informed Investment Management Services, they will pave the way for more complex and intelligent trading algorithms, real-time market trend analysis, more advanced and dynamic strategies to be explored, and more predictive investment decisions.
Preparing new NFT development tools for content creators
Finally, the purpose of AI Generated Content is to “power future NFT use cases” by enabling user research on the go, enhancing and integrating NFT usage to increase productivity and inform creators and developers.
