The Arweave-based AI computing protocol, AO, has attracted an impressive $158 million in deposits within a week of its fair launch. This protocol is designed to revolutionize AI by enabling decentralized, parallel application processing on a permanent data storage layer. The fair launch model, devoid of venture capitalist involvement, ensured that 100% of the token supply was allocated to the community, reflecting the original ethos of cryptocurrency.
The significant inflow of funds highlights the industry’s appetite for new technological solutions. According to Sam Williams, founder of Arweave, AO’s success is attributed to its innovative technology and community-centric approach. The protocol aims to support large language models (LLMs) on-chain, facilitating their execution within smart contracts.
Williams noted that AO’s fair launch has catalyzed substantial network activity and excitement, with the total value locked (TVL) in the network rapidly increasing. The AO token’s economical model and fair launch are seen as steps towards returning to crypto’s foundational principles of fair and equal access.
The influx of $48 million worth of stETH on June 18 was a testament to the community's trust and interest in AO's potential. Beyond its technological advancements, AO’s fair launch model is perceived as a strategic move to foster mass adoption of crypto by addressing core issues through innovative solutions and equitable economic structures.
This surge in interest in AI-related cryptocurrencies is part of a broader trend in 2024, as investors seek out promising AI applications. With the Near Protocol (NEAR), Fetch.ai (FET), and SingularityNet (AGIX) tokens showing significant recoveries, the market for AI-based cryptocurrencies is heating up.
AO's success underscores the growing integration of AI and blockchain technologies, heralding a new era of decentralized, on-chain AI applications. As the protocol continues to develop, its impact on the DeFi and AI landscapes is anticipated to be profound.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.