Ai16z token jumps 50% after a16z executive's post

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Grafa2024/11/19 17:00

By:Isaac Francis

The AI16Z (CRYPTO:AI16Z) token surged by over 50% on November 18 following a public acknowledgment from Eddy Lazzarin, the chief technology officer of venture firm a16z Crypto.

The token, linked to a decentralised autonomous organisation (DAO) powered by an artificial intelligence agent named Eliza, gained momentum after Lazzarin’s response to a founder’s outreach on X (formerly Twitter), signaling potential collaboration.

Ai16z, which launched on October 24, is not directly affiliated with the venture firm a16z despite the shared name.

The project operates as a DAO where holders can influence investment decisions with insights tracked by AI.

Successful contributions garner trust from the AI, fostering a collaborative ecosystem for decentralised investment.

The acknowledgment from Lazzarin was prompted when Shaw, one of ai16z’s founders, posted asking for a contact at a16z.

Lazzarin’s reply, “Check your DMs,” spurred excitement within the community, coinciding with a 55% rise in the token's price, lifting its market capitalization above $480 million, based on CoinGecko data.

Pseudonymous crypto influencer 0xMerp compared the significance of ai16z in the current market to Aave’s impact during the 2021 DeFi bull run, stating that ai16z could become a core technology that “everybody forks.”

Ai16z plans to expand its reach with Eliza, described as “a flexible AI tool for creating unique, interactive characters.”

This AI can interact on platforms like Discord and Twitter, process various media types, and retain conversational memory.

The DAO’s roadmap includes deploying specialised AI agents to manage tasks such as welcoming members, moderating discussions, and engaging in online activities.

Interest in agentic AI has grown, especially after a16z co-founder Marc Andreessen donated $50,000 in Bitcoin to Truth Terminal, a semi-autonomous AI agent, earlier this year.

The rise of projects like ai16z reflects the increasing appeal of AI-driven innovation in the blockchain space.

At the time of reporting, the ai16z (AI16Z) price was $0.439.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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The crypto market has dipped in response to President Trump’s plan to enact steep tariffs on imported goods from Canada, Mexico, and China beginning on Tuesday.Canada and Mexico have ordered retaliatory tariffs in response, while China promised “corresponding countermeasures” and said it would file a lawsuit with the WTO.Memecoins were particularly hard-hit by the downturn, with many top coins seeing double-digit percentage drops. Trump’s memecoin has fallen nearly 30% over the past week.

The Block•2025/02/02 17:11