NEW DELHI: Following the launch of OpenAI's text-to-video model Sora, a significant growth have been witnessed in the artificial intelligence (AI)-related tokens over the weekend.
According to CoinGecko data, sector tokens such as Ocean Protocol's OCEAN and Fetch have increased by an average of 7.7 per cent in the last 24 hours. AI's FET was up more than 10 per cent, reports CoinDesk.
Several users also took to X to express their thoughts on this development.
"Artificial intelligence (AI) tokens are on the rise today following the launch of OpenAI's new text-to-video tool, Sora," a user wrote on Monday.
"The AI narrative is still extremely early and money will keep flowing into it during this run," another user wrote.
Worldcoin, the crypto project co-founded by Sam Altman, soared 30 per cent, the highest among all AI tokens, setting a new lifetime peak at $7, the report mentioned.
In early 2023, there was a significant increase in interest in tokens related to AI as ChatGPT and image generation software gained popularity. However, the hype surrounding AI-related tokens slowed down in the past few months. However, the launch of Sora has reignited the interest in this sector.
According to OpenAI, Sora is capable of generating entire videos all at once or extending generated videos to make them longer.
Similar to GPT models, Sora uses a transformer architecture, unlocking superior scaling performance.