• SingularityNET is a blockchain-powered platform that allows users to create, share, and monetize artificial intelligence (AI) services.
• The price of SingularityNET (AGIX) has risen by over 774% over the past month, driven in part by Microsoft’s announcement that they would invest $10 billion in OpenAI.
• AGIX holders can vote on changes to the SingularityNET network operations, stake their tokens to earn interest and use their tokens to purchase AI services from the platform.
What is SingularityNET?
SingularityNET is a blockchain-powered platform that enables users to create, share and monetize Artificial Intelligence (AI) services. AI developers can sell their AI tools and libraries while those interested in AI services can test and buy any AI service uploaded on the SingularityNET AI marketplace. In addition, if a user wants a customized AI service, they can tap the extensive SingularityNET community of AI specialists via the Request for AI portal (RFAI). Users use the platform’s native token, AGIX, to purchase the AI services. This means that developers earn AGIX tokens by selling their AI services or filling the RFAI requests.
Why is the Price of AGIX Rising?
The news around ChatGPT has triggered a surge in demand for cryptocurrencies with an emphasis on Artificial Intelligence, one of them being the AGIX token. The current Bull Run started on Tuesday after Microsoft announced plans to invest $10 billion in OpenAI -the startup behind ChatGPT-. The coin shot up by a whopping 18% immediately after this news was released and since then it has maintained an upward trend in its price as well as its trading volume with people flocking towards this new technology .
What Benefits Do AGIX Holders Have?
AGIX holders benefit from multiple features such as voting power over changes made to SingularityNet Network operations; staking tokens which grants holders some interest; as well as using their tokens to purchase Artificial Intelligence Services from within the Platform itself .
Conclusion
In conclusion, it seems clear why there has been such an increase in demand for AGIX due to recent events; combined with its various benefits it provides users with an attractive opportunity. If you are considering investing into this cryptocurrency be sure you do your own research first before making any decisions .
Resources
https://www.financemagnates.com/cryptocurrency/news/singularitynet-price-heres-why-agix-price-is-up-40-today/