Two altcoins with a focus on artificial intelligence (AI) are experiencing significant growth following the launch of OpenAI’s latest text-to-video project.
OpenAI has introduced Sora, a cutting-edge model capable of producing detailed high-definition videos based on text inputs. This innovative technology enables Sora to craft videos lasting up to 60 seconds, showcasing intricate scenes, elaborate camera movements, and multiple characters displaying a range of emotions.
Sora’s versatility extends to generating videos from static images, demonstrating its adaptability and potential for various applications.
The unveiling of Sora has catalyzed a surge in the value of two AI-centric cryptocurrencies: Livepeer (LPT), a decentralized video streaming platform, and SingularityNET (AGIX), a blockchain marketplace for AI services.
Following the announcement, LPT witnessed a remarkable spike, soaring from a low of \(7.96 on February 15th to \)14.64 the next day, marking an impressive 83.9% increase. Similarly, AGIX surged from \(0.318 to a peak of \)0.418 during the same period, reflecting a substantial gain of 31.4%.
Although both assets have retraced slightly, they are currently trading at \(14.32 and \)0.384, respectively, at the time of this report.
In a related development, Livepeer has disclosed its intention to integrate text-to-video capabilities into its network as part of the AI Video initiative in the coming months. This strategic move aims to democratize access to generative video technology, offering affordable solutions to developers, creators, and users seeking to leverage this innovative tool.
The community-driven effort within Livepeer underscores the commitment to harnessing the power of generative video while ensuring accessibility and affordability for a broad range of users.
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