OpenAI CEO Sam Altman’s Worldcoin (WLD) token hit record highs on Thursday alongside a broader rally in artificial intelligence (AI) tokens.
Initially AI cryptocurrencies The price jumped Wednesday evening after chipmaker Nvidia (NVDA) beat high fourth-quarter earnings and first-quarter guidance expectations, and the move has gained strength since then.
Leading the way in terms of gains is Worldcoin’s WLD, which is up 40% on the day and almost 170% in the last 7 days. The token previously touched a new all-time high of $8.85 and was trading at $8.54 at the time of writing. Worldcoin was co-created by OpenAI founder Sam Altman and therefore often associated with projects related to artificial intelligence. SingularityNET {{AGIX}}, a decentralized AI marketplace, saw its token rise 43%. RecoverAI {{FET}} increased by 18%.
Other tokens associated with the AI shift on Thursday include Graph’s (GRT), up 17%, and Render’s (RNDR), up 23%.
According to Strahinja Savic, head of data and analytics at FRNT Financial, there are a number of reasons behind the recent AI token pump.
“The launch of [OpenAI’s] Sora [and] Nvidia’s impressive sales forecasts are fueling broader optimism about AI spreading into cryptocurrencies,” Savic said in an interview with CoinDesk. “We’ve seen this in cryptocurrencies in the past, where tokens related to metaverse recovered when Facebook changed its name to Meta.”
Savic raised the question of how effective exposure to AI is via these AI-themed tokens since most don’t actually have a direct link to adoption driven by OpenAI or Google’s Gemini. Gemini is Google’s family of AI models, similar to OpenAI’s ChatGPT.
“The use of blockchain technology for the purposes of artificial intelligence remains unclear and is highly experimental at this point,” Savic continued. the mass adoption that has received so much attention recently.”
Savic also noted that there is a possibility that demand for AI tokens will come from investors in areas that do not have access to US stocks. “It is conceivable that for an investor unable to buy stocks like NVDA, AI-themed tokens could be the next best thing,” she added.
Worldapp, which is the first Worldcoin wallet created for the project, surpassed 1 million daily users earlier this week, according to the agency.
