EMERGENCE OF AI TOKENS
Liquid staking currencies include Lido Financial, which has experienced a significant price increase recently, as well as Rockpool and frax share. Throughout this discussion, the emphasis has been on Ethereum staking in particular and the upcoming March unlock event for staked Ethereum. As a result, the event will be 4 to 8 weeks from now, barring a postponement, which is a possibility among the Ethereum community but doesn't appear likely given that March is the projected date.
The same kind of enthusiasm that has surrounded the names I named has not been present for non-Ethereum liquid coins. Hence, when we discuss these liquid staking derivative currencies, we are actually discussing these coins and the Ethereum staking story. My impression is that the hoopla around the March Ethereum Shanghai upgrade may continue to support these coins. We might have actually witnessed a sell-off in the wake of the news, which is quite common when significant technological advancements, particularly those involving Ethereum, take place.
What motivation is there to hold any of these coins once the initial excitement subsides and not sell them for a profit? Personally, I don't see much because most of these are basically governance tokens. You are not given a yield for keeping the token. They do not grant access privileges, discounts, or any other type of exclusivity.
Most of the AI coins had a successful year. Several currencies performed incredibly well, including Fetch AI, the graph, Ocean protocol, and others. A large portion of that story is predicated on the hoopla surrounding GPT, which was valued at roughly $30 billion, and Microsoft's desire to acquire half of the business. The enthusiasm surrounding AI, in my opinion, is well-deserved because it will significantly alter the lives of most people in more ways than we can now even begin to understand. The majority of us find it quite difficult to invest in reputable AI businesses, but anyone can buy AI coin.
But, I believe that, similar to metaverse coins, this market will have a brief period of success before experiencing a slight correction. They will most likely resume the following time a significant AI business is appraised. You should be aware that owning a cryptocurrency does not entitle you to ownership of the underlying business; however, the value of your token may increase if more people want to utilize the platform and demand for the token increases. In many instances, the money taken is used to pay for AI services, which are pieces of data on that specific platform.
There is a lot going on with AI tokens and it is starting to gain more attention.
As technology evolve, we will see more and more better things coming up.