The value of an altcoin project centred on artificial general intelligence (AGI) technology increased in response to claims that tech billionaire Elon Musk was developing a new version of ChatGPT.
Musk shared with his 130 million Twitter followers over the weekend his thoughts on AGI and the possible danger it presents to civilization.
The following day, The Information reported that Musk had contacted AI experts with the proposal of building a new research centre to investigate the construction of a new version of ChatGPT.
Reportedly, the CEO of Tesla has been pursuing Igor Babuschkin, an AI researcher who formerly worked for DeepMind, an AI business bought by Alphabet, the parent company of Google.
When the rumours and reports spread, SingularityNET (AGIX), a cryptocurrency project whose fundamental purpose is to create AGI technology, gained considerably as the rest of the markets declined or traded sideways.
First developed on Ethereum (ETH) and now compatible with Cardano (ADA), AGIX is a blockchain-based marketplace for artificial intelligence services.
The project’s leadership claims that it is constructing an ecosystem of initiatives to encourage development and token use in sectors such as decentralized finance (DeFi), robotics, biotech, gaming, media, and enterprise-level AI.
When speculations circulated, AGIX rose from $0.38 to $0.53, an almost 40% increase in less than two days. At the time of writing, AGIX shares are trading at $0.49 with a market capitalization of $580,958,350, a gain of 12% over the last twenty-four hours.
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