NFTs and Metaverses

Years 2021 - 2022 were under the sign of Metaverse and NFTs. A crypto startup which considered the use of aforementioned, instantly gained a head start over the rest in terms of potential users and market cap. 

During that time, NFTs like BAYC(Bored Ape Yacht Club), CryptoPunks and The Merge were hitting prices of tens of millions of dollars.

Same goes for metaverse crypto tokens like Decentraland MANA, The Sandbox SAND, Gala Games GALA and Axie Infinity AXS. Their prices skyrocketed despite not delivering much of content and overall mediocre experience and low amount of users.

AI mania in 2023

Advanced AI chatbot which gained gargantuan popularity, ChatGPT, was initially released in November 30th 2022 by OpenAI, AI research company founded in 2015 by silicon valley great names like Sam Altman, Reid Hoffman, Jessica Livingston, Ilya Sutskever, Elon Musk and Peter Thiel.

In response to new market trends, Google, in attempt to replicate OpenAI success, released its own AI called Bard. It turned out to be a failure because Bard reply was incorrect in its Demonstration, which caused Google stocks to lose 100 billion $ in valuation over one day because of loss of trust of investors, and sent huge tremors through the technology stock market. This event marks something which may prove dooming or may cause a revolution in todays world information gathering mechanics. And we can call it "AI race". 

Following growth of popularity of AI, corresponding Crypto section which includes tokens like Fetch.ai FET, OxAI OXAI, SingularityNET AGIX and many others skyrocketed in price.

You can check a great list of AI and Big Data oriented cryptocurrencies here on coinmarketcap.

My thoughts

What we are witnessing may be a birth of another crazy moon race which will send prices of many tokens sky high, many times without any particular reason at all. It may also cause a total shift in market behavior, turning it bullish instead of current bear season. Hang tight and observe, and remember things sometimes aren't what they seem as well.

None of information in this article should be considered a financial advice, it's my own analysis and facts I wanted to share with this wonderful community.

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