How have ChatGPT and Bard Impacted Artificial Intelligence Tokens?

OpenAI’s ChatGPT and Google’s Bard fuel price surges of up to 16x for Artificial Intelligence-related cryptocurrencies

Cryptocurrency tokens related to Artificial Intelligence (AI) experienced significant price gains when OpenAI's ChatGPT was first released on Nov 30 last year. After the initial novelty of ChatGPT, prices for AI-related tokens moderated from late Dec 2022 to early Jan 2023, losing as much as a third of its value.

When research laboratory OpenAI launched its pilot for a paid premium version of ChatGPT on Jan 11, 2023, investor interest in AI chatbots renewed and again led to rising prices for AI tokens. This time, AI tokens like SingularityDAO (SDAO) and Artificial Liquid Intelligence (ALI), which had been left out of the previous upswing, also saw sustained gains in the past month.

Prices of AI tokens rose by 2 to 16 times as of Feb 7, 2023, compared to Nov 30, 2022, as crypto investors poured into the AI narrative. Developments that contributed to the AI momentum include Microsoft’s multi-billion dollar investment in OpenAI and Google’s own AI chatbot Bard debut.

Investors pump DBC, AGIX at least 3x more than OCEAN, SDAO, NMR

While the majority of AI-related tokens have benefited from the current bullish sentiments towards AI, some tokens have outperformed others.

DeepBrain Chain (DBC) continued to benefit the most by increasing 16x to reach $0.0081 on Feb 7, 2023, up from $0.0005 on Nov 30, 2022. SingularityNET (AGIX) also performed strongly with a 10x increase to $0.43, up from $0.04.

In comparison, Numeraire (NMR) pumped the least at a 2x increase to $22.15, from $11.26 previously. Ocean Protocol (OCEAN) and SDAO also posted relatively smaller gains of 3x to reach $0.45 and $0.74 respectively. 

Meanwhile, Botto (BOTTO), Fetch.ai (FET) and ALI all rose by around 7x to reach $0.36, $0.44 and $0.06 respectively.

Methodology

The study examined prices of eight tokens associated with AI from ChatGPT’s launch date on November 30, 2022 to February 7, 2023. Tokens across a range of market capitalizations were selected from CoinGecko’s AI Coins category, namely Numeraire, Fetch.ai, SingularityNET, Artificial Liquid Intelligence, Ocean Protocol, Botto, SingularityDAO and DeepBrain Chain.

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Curious to find out more about our previous research studies? Check out this one we did on the countries most interested in metaverse app Bondee.