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Animoca Brands Bets on AI in the Crypto Industry

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by Giorgi Kostiuk

5 hours ago


Animoca Brands, known for its investments in the gaming sector and startups, announced its new partnership with IoTeX to integrate AI into the crypto sector.

AI in Cryptocurrency Initiatives

Founded in 2014 and based in Hong Kong, Animoca Brands operates in both the gaming industry and as a venture capital entity. According to a recent announcement by the IoTeX team, Animoca Brands has taken on dual roles as a network validator and an ecosystem partner.

Real-Time Verified Data for AI

A significant issue with most AI systems today lies in their reliance on static datasets, isolating them from the realities of the physical world. IoTeX addresses this gap by supplying AI with data that comes in real-time from millions of devices and decentralized physical networks.

Market Reaction to Investments

Following the announcement, the IOTX Token experienced a notable increase, rising to $0.032. Although it later retraced to $0.0306, it maintains a significant portion of its gains due to Animoca Brands' partnership announcement.

Animoca Brands' investment in AI initiatives highlights the growing connection between artificial intelligence technologies and the cryptocurrency industry. Support from a player like Animoca could significantly impact the economic landscape of this sector.

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