• Livepeer (LPT) and SingularityNET (AGIX) costs soared after OpenAI introduced its text-to-video AI mannequin Sora.
• The Livepeer workforce stated the group is trying to convey Sora's options to the blockchain protocol within the coming months.
• LPT soared 80% to over $14.80, with buying and selling quantity growing 3,300% in 24 hours.

OpenAI introduced Sora, a text-to-video AI mannequin, was introduced on Thursday, ushering in a brand new period within the area of generative AI. In keeping with OpenAI, Sora can create extremely detailed AI movies that includes complicated digicam motions, a number of scenes, and characters.

This announcement brought on the worth of Livepeer (LPT) and different AI-related cryptocurrencies to rise. On Friday, the Livepeer workforce revealed that the group is trying into bringing generated video AI capabilities to the platform.

right this moment @OpenAI revealed analysis progress on the Sora generated video AI mannequin with some spectacular demonstrations.

This may assist present the world how highly effective generated video might be, and open fashions are advancing quicker than ever. Nonetheless, to generate these movies… https://t.co/srd1TkV3bY

— Livepeer (@Livepeer) February 15, 2024

Livepeer, an open dwell video streaming protocol, says the initiative is a part of its objective to make video creation reasonably priced for builders and creators. The Livepeer workforce is optimistic that these AI capabilities can be operating on decentralized video platforms within the coming months.

“aAs a part of Livepeer's AI Video Initiative, the group will convey these options to the Livepeer community within the coming months, making them reasonably priced for builders, creators, and customers who need to do spectacular issues with the movies they generate. We’re engaged on creating an open entry level in .” says a put up on the Livepeer X account.

LPT costs soar after Livepeer information

The worth of Livepeer's native token LPT surged greater than 80% on Friday, reaching an intraday excessive of $14.87 throughout main crypto exchanges. In keeping with CoinGecko knowledge, the coin's buying and selling quantity elevated by a staggering 3,300% in 24 hours, with over $495 million traded.

The surge in market exercise additionally despatched SingularityNET (AGIX) hovering, with the AI ​​token reaching $0.42. The greater than 25% improve in SingularityNET's value was helped by a 520% ​​surge in day by day buying and selling quantity. Synthetic intelligence market capitalization rose 8% to greater than 13.5%.