Two AI-focused cryptocurrencies are experiencing a surge as OpenAI introduces its latest text-to-video project.
In a recent announcement, OpenAI unveils Sora, a cutting-edge model capable of generating high-definition videos from 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. https://t.co/7j2JN27M3W
Prompt: “Beautiful, snowy… pic.twitter.com/ruTEWn87vf
— OpenAI (@OpenAI) February 15, 2024
“Meet Sora, our text-to-video model. Sora can craft videos up to 60 seconds in length, featuring intricate scenes, dynamic camera movements, and expressive characters.”
According to OpenAI’s official statement, Sora also has the ability to generate videos from static images.
The news of this unveiling propelled two AI-associated digital assets—decentralized video streaming platform Livepeer (LPT) and blockchain-based marketplace for AI solutions SingularityNET (AGIX)—to significant gains.
LPT saw a notable surge, rising from a low of $7.96 on February 15th to $14.64 the following day, marking an impressive 83.9% increase. Similarly, AGIX climbed from $0.318 to a peak of $0.418 during the same period, indicating a gain of 31.4%.
As of the current writing, both cryptocurrencies have retraced slightly, with LPT trading at $14.32 and AGIX at $0.384.
In a related announcement, Livepeer expresses its intention to integrate text-to-video technology into its network within the upcoming months as part of its AI Video initiative. However, specific details and timing were not disclosed.
“OpenAI has recently showcased the advancements in their Sora generative video AI model, demonstrating impressive capabilities. This highlights the potential of generative video technology, with progress in open models accelerating rapidly.
Nevertheless, the computational requirements for generating these videos are substantial, particularly in terms of GPU (graphics processing unit) resources, which can be costly.
As part of Livepeer’s AI Video initiative, the community is actively working to integrate these functionalities into the Livepeer network in the near future, aiming to provide affordable and accessible solutions for developers, creators, and users interested in leveraging generative video technology for creative endeavors.”
Raksha, a seasoned journalist, specializes in crafting insightful narratives on blockchain and AI developments. With a keen eye for innovation, she distills complex topics into accessible stories, providing readers with a clear understanding of the dynamic intersection between these transformative technologies.
