AI token Kambria (KAT) has joined the ranks of artificial intelligence-related cryptocurrencies making headlines this year. After bringing more than 700% gains to holders, many analysts believe KAT is one of the tokens novices and experts should consider adding to their portfolios.
The novel asset of Kambria, an open platform for artificial intelligence, robotics, blockchain, Internet of Things (IoT), virtual reality (VR), and artificial reality (AR), is up 769% year-to-date (YTD), as of 19:00 UTC on April 16, data from TradingView showed.
KAT opened on January 1 with a trading price of $0.000743, reached a quarterly high price of $0.01528 on February 7 (it attained a yearly high daily trading volume of $5.8 million), closed Q1 on March 31 with a reduced price of $0.004168, and was exchanging hands for $0.00646, as of writing.
Kambria’s rise down to expanding ecosystem
The token’s rise has been attributed to an expansion of the project’s ecosystem. The AI sector has become extremely competitive over recent months, which is perhaps why the development team behind Kambria has partnered with mainstream crypto projects like Polygon and Crypto.com, as well as academic institutions including Carnegie Mellon and Stanford Universities.
Some analysts believe investors have turned their attention and capital to KAT due to products such as Decentralized Autonomous Organizations, Deep Tech Education, Starter Programs, and Non-Fungible Token (NFT) Intellectual Property (IP) Programs.
Decentralized Autonomous Organizations (DAOs) are the opposite of centralized organizations, where there is no central authority with a bottom-up entity structure. Kambria DAOs will allow developers to own technology they propose. They will then play an invaluable role in the commercialization of the solution and be remunerated accordingly.
Deep Tech Education is where the aforementioned academic institutions come into play. Kambria has lined up a series of courses which offer interested students insights into the cutting-edge training of emerging areas such as AR, VR, robotics, and AI.
The NFT industry is here to stay, and the rise of AI image generators could take the industry to another level. The NFT IP program by Kambria will enable all innovators to license, monetize, and protect their intellectual properties.
With an extensive reach that cuts across every facet of the emerging Web3 industry, the potential of Kambria explains the triple-percentage gains its novel token has generated over the last 120 days.
KAT was up by 1,956.53% on the back of AI token mania in February and rose by 461% in the first quarter of 2023. A potential future rally that replicates the highs of 2021 could see the digital currency make yet more strides.
How big can AI market be?
The success of AI products such as ChatGPT has led to the creation of several chatbots to rival OpenAI’s technology. Slava Demchuk, co-founder of AMLBot, shared with MetaNews his views about the potential of the AI market in the future.
“The market has always exhibited cyclical behaviour, often concentrating on one prominent industry before moving on to the next,” he said. “Currently, AI is experiencing significant attention, particularly with the release of ChatGPT and the subsequent introduction of the advanced GPT-4 model. Some sources even suggest that GPT-4 exhibits early indications of Artificial General Intelligence.
“The longevity of this heightened interest will depend on developments within the AI sector. Factors such as AI leaders’ decision to impose a moratorium on Language Models (LLMs) more powerful than GPT-4 for at least six months, as well as how major applications respond to these changes, will influence the future of AI.”
Demchuk also suggested that AI integrations will become normalized for already-established applications. “Successful integration of new AI features into applications, as demonstrated by Microsoft and Duolingo, will play a crucial role,” he predicted.
“In the coming years, AI has the potential to transform the world as we know it. Even if the current excitement surrounding AI subsides, interest will likely be revived in a subsequent phase.”