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Sam Altman

The AI-Crypto Nexus: Analyst Predicts Trillion-Dollar Opportunity

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Crypto analyst Miles Deutscher recently took to Twitter to express his bold prediction: AI is poised to become one of the most significant bubbles in financial history. While some may perceive this assertion as alarmist, Deutscher asserts that this is merely the beginning of AI’s ascent.

Surprisingly, the market capitalization of DOGE, a meme coin, currently surpasses the entire AI crypto sector. Despite this revelation, Deutscher remains unwavering in his belief, touting the trillion-dollar opportunity ahead and emphasizing that investors are still in the nascent stages of this lucrative venture.

Unraveling the AI-Crypto Convergence In 2024

In his comprehensive Twitter thread, Deutscher outlines his ultimate guide to navigating the intersection of crypto and AI. Several major drivers have accelerated AI momentum this year, 2024. One was the introduction of OpenAI Sora, a disruptive technology that can generate ultra-realistic videos from textual prompts.

On the other hand, Nvidia’s recent financial report showed an astonishing 265% rise YOY, demonstrating the strong demand for artificial intelligence-related technologies. Additionally, there was news all over the tech industry that Sam Altman had offered $7tn for another AI chip company, which shows exactly what level of enthusiasm is all about.

Despite a broader tech-sector slowdown, funding for AI start-ups has surged past $50 billion in 2023 alone. This has also pushed AI infrastructure spending to new levels, with an amazing $200 billion investment anticipated this year. Deutscher attributes this upswing of funding to the untapped possibilities for AI and believes that it is just scratching the surface.

The real-world applications of AI across multiple industries like consumer, enterprise, and B2B make it attractive as a retail vertical, among other factors responsible for its popularity within the industry. At the same time, its ease of marketability and disruptive power to conventional sectors increases investors’ interest in buying stakes in it. According to Deutscher, crypto narratives that are widely appealing to retailers, such as AI and gaming, tend to outperform others in capturing people’s imagination, especially from an average investor’s point of view.

However, Deutscher warns that not all AI-related cryptocurrencies are created equal. While some may leverage AI as a buzzword to generate hype, others are committed to leveraging AI technology to drive innovation and infrastructure development. 

He identifies compute, training, data verification, AI agents, and storage as key sub-sectors within the AI x crypto intersection, each offering unique opportunities for investment and growth. Nevertheless, as AI continues to permeate various aspects of our daily lives, its convergence with cryptocurrency promises to unlock untold potential and reshape the financial landscape for years to come.

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Worldcoin’s Meteoric 400% Surge With Sora AI Launch

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Sam Altman’s Worldcoin has skyrocketed to a whopping 400% YTD, thanks to OpenAI’s new launch, Sora. The latest AI model can generate a 1-minute video with just text prompts and is reportedly garnering rave reviews across social media circles. Amidst Sora’s release, Worldcoin’s native token, WLD, is up by more than 150% in the last week to trade at $8.6.

Additionally, the World App, the first wallet built for the project, passed 1 million daily users this week, hitting a record high, and is now “3.5 million unique humans strong,” according to the Worldcoin Foundation.

Altman, the man behind OpenAI and Worldcoin, has spearheaded two of the most groundbreaking technologies: artificial intelligence and blockchain. His crypto venture operates Orbs, custom imaging devices developed for the Worldcoin project by Tools for Humanity [TFH].

Worldcoin
Worldcoin's Meteoric 400% Surge With Sora AI Launch 2

In October, the team declared that Orb device operators would receive payments in WLD tokens rather than USDC. This strategic shift comes as the circulating supply of WLD tokens crosses 1% of its total 10 billion token supply. WLD’s explosive rally has generated windfalls among 3AC creditors.

Worldcoin’s Unexpected Benefactors

3AC is one of the prominent investors in the Worldcoin project, and the token’s rally has brought some solace to its creditors. The official liquidator of the bankrupt crypto hedge fund, Teneo, has unexpectedly become the biggest benefactor. Data from Scopescan revealed that Teneo’s WLD wallet address crossed a staggering $900 million.

Ecstatic about the price increase, Zhu Su, former CEO of 3AC, posted, “Got hated on a lot for this Worldcoin investment in 2021. I remember the hit pieces on it were so bad most of the Seed Rd refused to tweet to support it.”

According to earlier reports, Three Arrows Capital owed creditors approximately $3.3 billion. Last year, a British Virgin Islands court took a significant step by freezing assets exceeding $1 billion belonging to the founders of 3AC, effectively preventing them from transferring or selling their assets.

Teneo, having received approval from the Singapore High Court, is actively investigating 3AC’s local assets, including bank accounts, real estate, and cryptocurrencies. The liquidator has taken control of a minimum of $40 million of Three Arrows Capital’s assets, although this constitutes only a fraction of the total owed to creditors.

Cardano And Altman Join Forces To create Decentralized Language Model

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The co-founder and CEO of Cardano, Charles Hoskinson, has invited Sam Altman, the former CEO of OpenAI, to collaborate on a groundbreaking project. The project aims to create a decentralized large language model (LLM) that integrates into the Cardano partnerchain.

This invitation comes after Cardano recently announced it would incorporate the Polkadot stack into its partnerchain. Using the Polkadot stack shows Cardano’s commitment to harnessing cutting-edge technologies and interoperability within its blockchain infrastructure.

The Polkadot stack is a modular framework that lets developers build customized blockchains that can communicate and exchange value with other chains. By adopting the Polkadot stack, Cardano seeks to enhance its scalability, security, and innovation.

Decentralized Large Language Model: A Game-Changer

The decentralized large language model, a key focus of this collaboration, has immense potential to revolutionize how language gets processed and understood within blockchain. Adding Altman, a prominent figure in artificial intelligence and machine learning, substantially boosts the project’s credibility.

Large language models like GPT-3 and DALL-E have shown remarkable ability to generate natural language and images from text prompts. However, these models are centralized and controlled by a single entity, raising concerns about data privacy, bias, and censorship.

A decentralized large language model, on the other hand, would distribute ownership to the community, ensuring transparency, fairness, and diversity. Such a model could enable applications like decentralized chatbots, content creation, and education.

Cardano And Altman: A Powerful Synergy

As one of Ethereum’s five founding members, Hoskinson’s involvement underscores his deep understanding of blockchain technology. This expertise positions him to lead blockchain platform in exploring new horizons.

The partnership between blockchain platform and Altman, known for his forward-thinking approach and transformative work at OpenAI, has the crypto community excitedly anticipating what’s next. The synergy between Altman’s AI expertise and Cardano’s commitment to decentralized solutions makes a compelling case for the blockchain’s future.

As Cardano continues establishing itself as a trailblazer in crypto, collaborating with Altman is a strategic move towards fostering innovation and pushing the boundaries of what’s possible in decentralization. The intersection of Altman’s vision and Cardano’s tech is poised to leave a mark on blockchain and decentralized language models.

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