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Cryptocurrency tokens with ties to artificial intelligence (AI) have shown signs of reliance and robust growth by clocking significant price increases, even as the rest of the market experiences a strong downturn. Meanwhile, GFOX, a meme coin project, is approaching the $4 million mark in its presale.
GFOX presale exceeds $3.5 million
In stage 8 of the presale, GFOX has raised over $3.5 million.
Part of the reason why GFOX is popular is because of its unique approach to meme coins.
The coin draws inspiration from popular meme coin projects that came before it.
However, GFOX is no ordinary meme coin. Driven by a strong mission to proliferate and transform the lives of its investors, the coin offers several utility-focused features that are bound to change the lives of its investors.
Additionally, most of the features of the GFOX ecosystem are designed to help investors make additional income.
For example, the play-to-earn game is designed to allow players to enjoy thrilling gameplay while also earning a side income.
Every gaming season, players have to compete for the top 20% of positions on the leaderboard. Those who win are rewarded with in-game currencies that they can exchange with GFOX tokens. Players can improve their performance by purchasing GFOX NFTs or using attribute boosters from the marketplace.
Another way investors can make some passive income with GFOX is through the staking platform. This platform has a stargate that collects 2% of every GFOX transaction, creating a pool of funds that is used to pay out staking rewards.
The token burn feature within the GFOX ecosystem also helps to make the token stand out.
The feature adds a deflationary aspect to the coin by removing a portion of the GFOX tokens in circulation. This increases the coin’s scarcity.
GFOX is now approaching its launch and retail listing.
AI tokens rising
Several AI-affiliated cryptocurrencies such as RNDR are now on the rise, despite the fact that most other cryptocurrencies have seen a decline.
This growth is partly due to Nvidia’s financial report, which surpassed expectations.
Nvidia announced $22.1 billion for one quarter, exceeding the $20.4 billion forecast.
The company’s AI-related data center grew by five times year-over-year in the first quarter of January. This has sparked interest from traders raising the volume of trades for cryptocurrencies affiliated with AI.
According to Nvidia’s CEO, the recent surge in sales is a result of an increase in the demand for generative AI technologies.
It’s not just AI-based cryptocurrencies that have benefited from this growth, the stock of AI-centric companies has increased. For example, Taiwan Semiconductor Manufacturing Company’s stock grew by 2.05% in early February, due to its association with Nvidia.
Final word
As the rest of the crypto market shows dwindling returns, AI-centric coins are moving in the opposite direction, showing significant gains in the past weeks. Meanwhile, investors have set their sights on GFOX ahead of its official launch.
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This article first appeared at crypto.news
