AI challenge on Cardano, SingularityNET, unveils ADA plans after its token AGIX soars 150% in 2023
SingularityNET, the factitious intelligence challenge being developed on Cardano, has unveiled plans to allow cross-chain interoperability on Ethereum and Cardano. The platform’s plans are formidable and straight have an effect on Cardano’s native token, ADA.
— SingularityNET (@Singularity_NET) January 12, 2023
In accordance with the official announcement, AGIX-ADA staking on Cardano ought to be launched quickly, particularly the primary quarter of 2023. AGIX is, as a reminder, the native token of the AI providers market being developed by SingularityNET. Previous to this, a bridge was launched between the Ethereum and Cardano networks, permitting AGIX to be transformed between them. Subsequent, the AGIX-ADA rewards program was additionally launched.
Crypto AI narrative
For the reason that starting of January, the token has seen its value soar by greater than 150%, beginning at simply $0.05 and buying and selling at $0.115 per AGIX by now. The explosion within the reputation of synthetic intelligence functions among the many lots, together with ChatGPT, has contributed to the hovering of SingularityNET’s token value.
The size of the AI narrative grew to become clear when Microsoft additional introduced its want to take a position $10 billion within the creators of ChatGPT and OpenAI.
In accordance with CoinMarketCap, the AI and Huge Knowledge sector in cryptocurrencies is now valued at $2 billion, nearly double what it was at the start of the yr.