By Michael Scott
Tron blockchain firm confirmed setting a $100M fund to advance grants to artificial intelligence (AI) oriented projects. Tron’s commitment arises from the emergence of AI-oriented tokens triumph in the crypto circles.
Setting AI-Oriented Fund
Tron blockchain confirmed setting aside a $100 million fund to specific teams identified to integrate AI in the blockchain applications. The emergence of AI popularity among crypto investors fuels the firm’s commitment to advance grants. Tron blockchain firm replicates the recent move by Google Inc to reinforce its investment in artificial intelligence.
The increased appetite by the global lead tech giants focuses on supporting developers to research the integration of artificial intelligence in simulating human intelligence. As such, Tron targets to advance projects simulating human intelligence within the machines.
Emergence of Blockchain-based AI Applications
Explaining the $100M grant, Tron representative cited the emergence of blockchain-backed applications such as ChatGPT. The executive cited the success of the chatbot built by OpenAI as pioneering the simulation of human intelligence in front- and back-end development.
The firm’s announcement revealed that the developers’ teams could seek grants to finance their projects from the $100M Tron fund. Nonetheless, Tron’s statement revealed a limited scope of AI-focused projects. In particular, it identified payments, data management, electronic commerce, and currency settlement segments. In addition, developers in investment analysis, market outlook, and content generation as critical areas of focus.
Tron founder Justin Sun supported the creation of a development fund to enable AI-focused teams to realize their underlying projects. He added that integrating AI within smart contract development would facilitate the creation, deployment, and execution of intelligently and effective contracts.
AI Tokens Rally in Expectations
Meanwhile, Tron’s move into artificial intelligence projects coincides with the rally exhibited by AI tokens. The tokens have realized over 60% spike in the last seven days. The lead gain is evident in SingularityNET (AGIX), Alethea’s (ALI), and Fetch.ai (FET).
The crypto market analysts have expressed concern about the AI token hype. Financial analyst Valentina Drofa regretted that cycles of hypes losing steam are becoming tiresome. She emphasized that the inherent risk in the AI trend is ending in empty hype. Drofa condemned the existence of speculators prioritizing immediate returns, thereby engaging in pumping short-term prices.