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Today, game coin XAI, which was launched this year and named after Elon Musk’s xAI start-up — which works in the artificial intelligence industry — demonstrated an astonishing rise of 49%. The news was reported on Twitter by major cryptocurrency exchanges Gate.io and Bybit.
Here’s main trigger pushing XAI up 49%
XAI was created by Xai Foundation and Offchain Labs on the basis of Arbitrum and is a layer-2 blockchain created for AAA gaming. The primary goal of this is to lead the way for blockchain technology into games. It helps to acquire, own and trade various in-game items, turning the gaming ecosystem into a decentralized and a completely transparent one.
The main reason for the astonishing price surge of XAI, according to the tweet published by Bybit, is the fact that Orivium start-up has created and launched a same-name play-to-earn game on the Arbitrum chain. It is “blockchain-enhanced real-time strategy game,” and it will be powered by XAI technology.
XAI technology will allow this strategic game to have small transaction fees, stable gameplay, easy-to-understand game interaction and easy ways to integrate blockchain wallets into it. This is a major move forward in the blockchain gaming space.
Since Sunday, the XAI coin has skyrocketed by 57.77% overall and is now exchanging hands at $0.9511 on the Binance exchange. The maximum supply of this coin equals 2.5 billion XAI; 3% of it was allocated to be given away as awards on Binance during the launch on Jan. 4.
Elon Musk’s xAI start-up doing well
Elon Musk, tech magnate, owner of the X app, and CEO of Tesla and SpaceX, launched his xAI start-up in November 2023 in order to compete with OpenAI and its AI chatbot, ChatGPT.
Soon after the launch, xAI released its own chatbot, called Grok, and it was integrated on the X social media platform for Premium+ subscribers, who pay a monthly fee to access it.
Musk decided to go for a new company after he poured heavy criticism on OpenAI for creating “woke” ChatGPT; the chat bot avoids discussing certain sensitive topics with users. Musk stated that this was a major drawback and decided to launch his own AI chat bot.