Crypto markets inherently depend on core volatility. While being volatile is typically billed as a risk factor, it’s still a core aspect for acclimatizing with the potential of profit. In other words, it’s risky, but the risk is validated. It’s susceptible to going southward, but the northbound effort counts as something tangible for the future. If you would want to wrap your head around the flexion, talk to a crypto guy (for example, Elon Musk). But well, Musk is already onboard on the scenario, having invested in GXAI55.
So, what makes the world’s richest investor tally his assets behind this formidable token? What is the potential of a yet new token in the crypto market, currently capped at well over $3 Trillion? Why does it count as a means to an end in the crypto dialectics? The questions are numerous.
All for AI in Crypto
To find the answers you need to have a closer look at the technology backing this novel initiative. Put briefly, $xAI connects the biggest milestones of crypto technology in a formative space, connecting advanced Artificial Intelligence with a Decentralized Economy and even pre-emptive Quantum Computing. It’s big, as big as Musk himself, and ready to take the crypto world by storm. As of now, it’s new to the block, billed as the currency for Musk’s vision of the future.
On the investor side, what does it take to be a part of that future in a decentralized economy? Does it indicate the inevitable handing over of your assets to the wonders of Artificial Intelligence? From the investor’s perspective, nothing matters more than the safety of the assets in the transaction. It’s blockchain, and it’s immutable, but can it tally up a future where all assets are eventually stacked in a crypto framework?
Where does it stand?
The shift is yet to be perceivable, but the Series C funding round raised $6 Billion. The purported funding is aimed at expanding the AI blockchain capabilities to the hilt. The investment round was backed by some of the leading names in the industry, including Morgan Stanley, Fidelity, Kingdom Holdings, NVIDIA, AMD, Sequoia Capital, and Valor Equity Partners.
The billion-dollar scale of the funding does indicate the potential of $xAI, but it does little to assuage the doubts that make dark rounds in the crypto economy. Volatility is the other name of crypto, and at the end of the day, you would not want to be bankrupt at any cost. Nonetheless, with AI for the assurance, you might want to exchange your Bitcoin or Ethereum assets for GXAI55 and wait for the Big Bang (presumably on a SpaceX flight).
