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Solana’s new AI venture struggles to lift SOL out of its woes

Press Releases Crypto News AMB-Crypto Solana’s new AI venture struggles to lift SOL out of its woes

Through the launch, Solana became the first L1 blockchain to adopt AI.
The launch failed to uplift SOL as it continued its losing streak.

The Solana [SOL] Foundation announced the integration of artificial intelligence (AI) into the Solana network via a newly launched ChatGPT plugin, marking a watershed moment in the confluence of AI and blockchain technology.

Through the launch, Solana became the first layer-1 (L1) blockchain to adopt AI, as per details given in a press release on 23 May.

However, the news of the innovative synergy failed to lift up the native token SOL, which dropped 2.39% in the 24-hour period to $19.40, as per CoinMarketCap data.

Realistic or not, here’s Solana’s market cap in BTC’s terms

A paradigm shift

The new ChatGPT plugin, which was teased in late April, will let users interact with the Solana network directly using the AI Chatbot. It can be used to purchase NFTs, transfer tokens, analyze transactions, interpret public account data, and search NFT collections based on the floor price. The plugin was available for download from GitHub, Solana Foundation added.

Solana co-founder CEO Anatoly Anatoly Yakovenko hailed the launch and said that the merge will open new doors of opportunities for Solana.

“AI will make Solana more usable and understandable. Crypto APIs are way better than the APIs that deal with money from finance-focused centralized service providers because they are trustless and don’t deal with the same issues that centralized providers have to deal with.”

In addition to this, the foundation announced an increase in funding for its AI-focused grants program from the previously announced $1 million to $10 million. The grants program is designed

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Author: Suzuki Shillsalot

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