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GRT, FET Explode as Musk’s ‘Grok’ Launch Sparks Surge in Mysterious AI Tokens
- Grok is a new AI assistant developed by X, led by Elon Musk, with real-time data access and a design inspired by “Hitchhiker’s Guide to the Galaxy.”
- Following the launch, over 400 AI-related tokens appeared, experiencing thousands of percent in gains.
- Established AI tokens like SingularityNET, Fetch.ai, and The Graph have also seen substantial surges in value.
- Musk has publicly refuted speculations about his companies creating their own crypto token.
What is Grok?
Elon Musk has often expressed concern over the unpredictability of artificial intelligence (AI), once suggesting a global pause in its development. In March 2023, AI experts requested a six-month stop to the creation of systems surpassing OpenAI’s GPT-4, citing potential job displacement, disinformation risks, and catastrophic outcomes.
More than six months later, X, under Musk’s guidance, unveiled an AI assistant named Grok in beta, capable of accessing real-time information from X and responding with wit and rebellion.
“Grok is an AI modelled after the Hitchhiker’s Guide to the Galaxy, so intended to answer almost anything and, far harder, even suggest what questions to ask! Grok is designed to answer questions with a bit of wit and has a rebellious streak, so please don’t use it if you hate humour!”
AI Tokens Surge
Not surprisingly, since the launch of Grok, over 400 AI related tokens, many named after Grok, appeared on various platforms including Base, Ethereum’s layer-2 network. Some of these tokens have seen their price increase by several thousand percent, while some have also experienced significant crashes.
AI Alts Surge Too
However, some better-known AI tokens have also surged, likely benefiting from the renewed interest in AI. SingularityNET (AGIX) has increased by 38.65% since early October, while Fetch.ai (FET) boasts 78.58% growth during the same time. The Graph (GRT) tops this with a 79.65% monthly and a solid 21.29% increase in the past 24 hours according to data from CoinMarketCap.
Musk Dispels Myth
While many have hoped that Elon Musk will either integrate crypto in some form in his plans to re-shape X into the everything platform or create his own token, he recently took to X to dismiss any such claims.
To be super clear, none of my companies will ever create a crypto token.
Elon Musk
Musk also distanced himself and his newly released AI from the current tokens flooding the market, saying they have no affiliation with his xAI.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
