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AI Tokens Are Booming

If you read our token picks emails from Eric or are a premium subscriber, you know we love the AI x Crypto narrative. AI is sweeping across industries, making its mark in nearly every industry. Its integration with cryptocurrency is akin to the buzz Allen Iverson brought to the NBA, signaling a game-changing era. The crypto domain is currently witnessing an AI revolution, with AI-focused tokens showcasing impressive gains recently. These tokens have seen an average increase of 8% over the past week, with their market capitalization soaring from $7 billion to $15 billion since the start of the month. Moreover, AI tokens have achieved their highest weekly trading volume in the past year.

This surge in AI token popularity can be attributed to several pivotal developments. OpenAI's latest unveiling of its text-to-video generator, Sora, has historically led to significant market upticks following new product launches. The recent introduction of the Apple Vision Pro has also spurred the creation of metaverse applications, such as those by Victoria VR, that are compatible with the device. Prominent tech figures, including Vitalik Buterin, have been vocal about AI's potential to solve some of cryptocurrency's most daunting challenges, drawing more attention and investment into AI tokens.

The excitement surrounding AI tokens is far from over, thanks largely to the anticipation around NVIDIA's financial disclosures. The performance of leading AI tokens has been closely linked to NVIDIA's fortunes since January 2023, both enjoying a roughly 400% uptick since then. As NVIDIA prepares for its earnings announcement, having outperformed expectations in its previous four reports, the crypto world is on the edge of its seat, hopeful for another boost in AI token values.

UPDATE: NVIDIA beats earnings expectations. Prepare to see that positively boost the crypto AI sector. Hopefully, everyone has some AI tokens in their bag.

BlockBuzz™️

Quick Hitters from the week

• Mastercard's Crypto Rewards Fill Google Pay Void: Collaborates with Swoo Pay for crypto loyalty rewards in emerging markets.

• VanEck's Bitcoin ETF Sees Explosive Volume Increase: Volume surges over 1000% a day before its fee reduction takes effect.

• MetaMask User Count Approaches Record High: Monthly active users on the brink of surpassing 30 million.

• Starknet's STRK Token Debuts Strong Post-Airdrop: Opens trading at $5, with fully diluted value hitting $50 billion and an initial cap of $3.64 billion.

• 2024 Forecasted as Airdrop Bonanza by CC2 Ventures: In an interview, CC2 Ventures highlights strategies for maximizing airdrop gains in the 'golden year for airdrops'.

• Banks Lobby SEC for Bitcoin ETF Market Entry: Major financial institutions vie for a share of the burgeoning Bitcoin ETF sector.

• Worldcoin's Surge Tied to OpenAI Sora Launch: Experiences a resurgence of interest amidst the rollout of OpenAI's Sora platform.

• Hack VC's Crypto Fund Overflows: Announces the closure of an 'oversubscribed' $150 million funding round dedicated to crypto startups.

• AI Tokens Surge on OpenAI Sora Optimism: The sector sees a rally, fueled by renewed enthusiasm following OpenAI’s Sora initiative.

• Aptos and Jambo's Web3 Mobile Vision for Emerging Markets: Forge a partnership to bring web3 accessibility to emerging markets through a dedicated web3 phone.

The Twitterverse

A collection of the most interesting stuff on Crypto Twitter this week

WAGMI

For the Crypto Culture

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.