Two AI-Related Crypto Assets Rally As OpenAI Launches Text-to-Video Artificial Intelligence Model

Two artificial intelligence (AI)-focused altcoins are surging as AI research firm OpenAI rolls out its new text-to-video project.

In a new thread, tech giant OpenAI announces the launch of Sora, a new model that can generate detailed high-definition videos based on text prompts.

“Introducing Sora, our text-to-video model. Sora can create videos of up to 60 seconds featuring highly detailed scenes, complex camera motion, and multiple characters with vibrant emotions.”

According to OpenAI’s website, Sora can also generate videos from still images.

News of the launch sent two AI-related digital assets – decentralized video streaming network Livepeer (LPT) and blockchain-based marketplace for AI services SingularityNET (AGIX) – skyrocketing.

LPT went from a February 15th low of $7.96 to a price of $14.64 just a day later, a staggering rise of 83.9%, while AGIX went from a February 15th low of $0.318 to a peak of $0.418, a gain of 31.4%, during the same time frame.

Both crypto assets have since retraced and are trading for $14.32 and $0.384 at time of writing, respectively.

In an accompanying announcement, Livepeer says it is striving to incorporate text-to-video technology in its network within the next few months as a part of its AI Video initiative, though no exact date or details were given.

“Today, OpenAI revealed their research progress on the Sora generative video AI model, with some impressive demonstrations. This helps show the world how powerful generative video can be, and progress on open models is moving faster than ever.

But generating these videos requires massive GPU (graphics processing unit) computing power, and can be expensive.

As part of Livepeer’s AI Video initiative, the community is working to bring these capabilities to the Livepeer network in the coming months, creating affordable and open access points to developers, creators, and users looking to do inspiring things with generative video.”

Generated Image: Midjourney