The price of SingularityNET (AGIX), an Artificial Intelligence (AI) marketplace based on Cardano, has reportedly risen over 17% in the last 24 hours. The AGIX price rise is attributed to the announcement by Elon Musk of building a ChatGPT rival.
Per crypto price oracles at press time, AGIX’s is trading at $0.5456, up 16.25%, per CoinMarketCap (CMC). AGIX’s market capitalization (MCAP) at press time is $657,566,032, per CMC. The price of AGIX has been soaring for the last 30 days even amidst a correcting crypto assets market.
Elon Musk is reportedly dissatisfied with a newly-added ChatGPT filter tool that does not allow the chatbot to generate text that can offend its users. Musk is reported to have recently recruited an AI researchers’ team to develop OpenAI’s ChatGPT rival.
Notably, Elon Musk is one of the co-founders of OpenAI, but has since cut ties with the company. Musk is reported to have recruited Igor Babuschkin (a former Alphabet’s DeepMind AI unit researcher) to develop an advanced AI unit.
Musk’s AI initiatives signal his potential intentions to develop a full-fledged web3 platform via his latest Twitter Inc. acquisition. ChatGPT has reportedly amassed a user-base of over 100 million users in mere two months of launching.
Expressing his AI fondness, Musk recently stated via a tweet that he is willing to experience the AI era. Musk tweeted:
But, all things considered with regard to AGI existential angst, I would prefer to be alive now to witness AGI than be alive in the past and not
— Elon Musk (@elonmusk) February 26, 2023
Musk is not directly associated with SingularityNET or Cardano. The growth of the Cardano network following the Alonzo hard fork cannot be ignored as it facilitates speedier and highly efficient smart contracts. As per DefiLlama, the total value locked (TVL) of the Cardano network is around $115 million.
