Amidst a challenging crypto market, a relatively unknown project centered around artificial intelligence (AI) is making waves with plans for tokenomic upgrades.
The utility token of the AI agent project known as ai16z (AI16Z) is currently valued at $1.52, marking a significant 23.7% increase in the last 24 hours.
Despite its under-the-radar status, the Solana (SOL)-based altcoin boasts a market cap of $1.65 billion, securing its position as the 79th largest crypto project.
Contrastingly, Bitcoin (BTC) has dipped by nearly 2% to $91,998, while the overall crypto market cap stands at $3.36 trillion, reflecting a 3.4% decrease in the past day.
The recent surge in ai16z’s performance coincides with the project’s proposal of a revamped tokenomic strategy. This initiative aims to enhance the utility token’s value by optimizing the utilization of the ecosystem’s AI agent, Eliza.
“The primary challenge lies in the discrepancy between the thriving adoption and technical advancements of the Eliza agent framework and the relatively stagnant value accrual of the ai16z token. It is imperative to realign incentives to sustain the project’s momentum…
There is a unanimous agreement on the critical necessity of substantial tokenomic enhancements to effectively capture the value generated by Eliza. While the launchpad concept is at the forefront, discussions on the specifics and trade-offs are encouraged.”
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Featured Image: Shutterstock/jiang jie feng/Andy Chipus