This AI Crypto Pumping Insanely Yet Again
Mainstream AI cryptocurrency IMGNAI is the best performer within the segment of coins associated with artificial intelligence and big data. The token that kick-started the AI frenzy one year ago is rocketing again after the completion of a seed funding round backed by top VCs.
AI crypto IMGNAI jumped by 50% on this announcement
Today, on Jan. 27, 2024, the IMGNAI token of the eponymous AI project registered a local price high near $0.026 after a 50% pump. The surprising rally was triggered by the announcement of a successfully closed seed round. The platform raised a total of $1.6 million from a clutch of high-reputed VC firms.
The round was led by Hack VC; Rana Capital, Selini Capital, West Ham Capital and dao5 also backed imgnAI in its fundraising efforts.
With fresh funds raised, the company is nearing the release of Naifu, an “all-in-one virtual companion.” The new product will be able to answer questions, solve complex problems and so on. As per the team’s website, Naifu will be trained on the broad range of datasets just like mainstream AI products, including OpenAI’s ChatGPT.
As covered by U.Today previously, IMGNAI was among the “blue chips” of Q1, 2023 AI cryptocurrencies frenzy. In less than a month, its price soared by 100x amid the euphoria around AI-generated images.
The company also released Nai, a newbie-friendly image generation bot. It allows creators with no previous experience in digital art to create images in various visual styles.
AI crypto coins lead way for market recovery
Besides IMGNAI, several other AI cryptocurrencies registered double-digit upsurges in the last 24 hours. The 0x0 token of 0x0.ai AI-powered safety tools platform jumped by 21% and pushed the project’s capitalization over $100 million.
The largest cryptos of the segment, including Internet Computer (ICP), The Graph (GRT) and Render Network (RNDR), are also in the green.
In total, the segment’s valuation increased by 5.55% in the last 24 hours and reached $21.6 billion in equivalent. The aggregated capitalization of crypto markets surged by 3.29% in the corresponding period.
The U.S. Commodity Futures Trading Commission (CFTC) released a warning about fraud schemes that allegedly use AI-related narratives, as U.Today reported earlier today.
