AI cryptocurrencies on fire: OpenAI’s Sora propels the markets!

In a dramatic turn of events that shakes the world of artificial intelligence, Sora’s arrival is taking the ecosystem by storm. Cryptocurrencies linked to AI are trembling as OpenAI’s text-to-video generator makes its entrance. Panic ensues!

Sora and the Crypto Craze!

Artificial intelligence (AI) tokens are on the rise today following the launch of OpenAI's new text-to-video tool, Sora.

Which AI tokens are you watching?

View full list https://t.co/EKecwSXLYo pic.twitter.com/s9uAwf4MRM

— CoinGecko (@coingecko) February 19, 2024

It was on February 15th, the day after Valentine’s Day, that the saga of Sora, OpenAI’s general text-to-video AI, began. Its arrival promises to shake up the world of cinema by generating stunningly realistic videos from simple texts. But that’s not all: this revolution has not failed to impact Worldcoin’s WLD cryptocurrency (up by 140%), a project backed by Sam Altman.

The shockwaves are also being felt in the world of AI-related cryptocurrencies, as evidenced by a recent article from The Block. This crypto-specialized media outlet reported a significant increase in AI-associated tokens in the last 24 hours. Among the most notable gains were the native tokens of Worldcoin and SingularityNET, namely WLD and AGIX. While the former recorded an impressive rise of 28%, thus reaching $7.51, the latter was not far behind with an increase of over 11%, propelling it to $0.52.

But that’s not all! CNN also highlighted the remarkable performance of other AI-related cryptocurrencies. Fetch.AI’s FET saw a 30% surge, as did OCEAN from Ocean Protocol, TAO from Bittensor, and AI from Sleepless AI.

Furthermore, according to a report from CryptoPotato, the cryptocurrency SORA, with no connection to OpenAI’s generative AI project, also made a trader’s weekend last week. That trader, having invested only 0.049 ETH ($137) at the time, realized a phenomenal profit of $176,000, a gain multiplied by 1,280, in a record time.

Another notable aspect of this matter concerns the market capitalization of AI-related cryptocurrencies. According to data from CoinGecko, the market experienced an 8% increase, thus reaching $15 billion on exchanges last Sunday.