{"id":63813,"date":"2023-11-07T09:50:36","date_gmt":"2023-11-07T13:50:36","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=63813"},"modified":"2023-11-07T09:50:39","modified_gmt":"2023-11-07T13:50:39","slug":"musks-grok-chatbot-sparks-ai-token-frenzy","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/musks-grok-chatbot-sparks-ai-token-frenzy\/","title":{"rendered":"Musk\u2019s Grok Chatbot Sparks AI Token Frenzy"},"content":{"rendered":"\n

The launch of Elon Musk\u2019s Grok chatbot, a witty and rebellious AI competitor to ChatGPT,<\/a> has triggered the creation and surge of hundreds of AI-related tokens, some of which have soared over 1,300% in value.<\/p>\n\n\n\n

\"Musk\u2019s<\/figure>\n\n\n\n

Elon Musk\u2019s new AI venture, xAI,<\/a> has unveiled Grok. This chatbot can access information from X, the social media platform formerly known as Twitter, and answer questions with humor and sarcasm. <\/p>\n\n\n\n

The announcement of Grok, which aims to rival OpenAI\u2019s ChatGPT, has sparked a wave of speculation and investment in AI-related tokens, some of which have skyrocketed over 1,300% since their launch.<\/p>\n\n\n\n

Grok\u2019s Rebellious Streak<\/h2>\n\n\n\n

Grok is an AI chatbot modeled after The Hitchhiker\u2019s Guide to the Galaxy, a comedy sci-fi novel by British author Douglas Adams. <\/p>\n\n\n\n

According to xAI, a company founded by Musk and composed of former employees of Google, DeepMind, and other AI firms, Grok is designed to answer questions with a bit of wit and has a rebellious streak, so it is not suitable for users who hate humor.<\/p>\n\n\n\n

Grok is powered by a large language model called Grok-1, which xAI claims has surpassed GPT-3.5, the model used by the publicly available version of ChatGPT, on some benchmarks, such as solving middle-school math problems. <\/p>\n\n\n\n

Grok-1 is only outperformed by GPT-4, a more powerful model that is not yet been released to the public.<\/p>\n\n\n\n

Grok has access to information from X, the social media platform that Musk acquired last year and rebranded from Twitter. <\/p>\n\n\n\n

The language model can use X posts to retrieve and generate relevant and updated answers to user queries. <\/p>\n\n\n\n

It can also interact with users on X, as Musk demonstrated by posting some screenshots of Grok\u2019s responses to questions such as ‘How to make cocaine'<\/em> and ‘What is the meaning of life?'<\/em><\/p>\n\n\n\n

\n

pic.twitter.com\/JRebl653BP\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Elon Musk (@elonmusk) November 7, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

A New Crypto Craze<\/h3>\n\n\n\n

The launch of Grok has also triggered the creation and surge of hundreds of AI-related tokens, which are cryptocurrencies used to power AI-based projects and services, such as decentralized exchanges, image or text generation, investment protocols, and more.<\/p>\n\n\n\n

According to data from Dextools,<\/use><\/svg><\/span><\/a> a platform for tracking and analyzing decentralized applications, almost 400 AI-related tokens<\/strong> have appeared on various blockchains since the announcement of Grok. <\/p>\n\n\n\n

Many of these tokens have the name or symbol of Grok, although xAI has not officially launched or endorsed any of them.<\/p>\n\n\n\n

Some of these tokens have seen massive price increases, attracting low-cap traders looking for quick profits. <\/p>\n\n\n\n

For example, one of the GROK tokens launched on the Ethereum blockchain has rallied 1,300%<\/strong> since its debut, reaching a market cap of around $10 million<\/strong> and a trading volume of $7.32 million. <\/strong><\/p>\n\n\n\n

Another GROK token created on Saturday<\/use><\/svg><\/span><\/a> has grown 387.19%<\/strong> in 24 hours,<\/strong> reaching a market cap of $4.52 million<\/strong> and a trading volume of $4.78 million.<\/strong><\/p>\n\n\n\n

\"Musk\u2019s
Graph showing the performance of one of the GROK tokens against WETH launched on Ethereum from Nov. 3 to Nov. 7, 2023<\/em> (Source:<\/em> Geckoterminal<\/use><\/svg><\/span><\/a>)<\/figcaption><\/figure>\n\n\n\n

However, these tokens also carry high risks, as they are not regulated, audited, or verified by any authority. <\/p>\n\n\n\n

Many of them could be scams, rug pulls, or pump and dumps, which aim to defraud investors by inflating the price of a token and then selling it at a high price, leaving the buyers with worthless tokens.<\/p>\n\n\n\n

Musk\u2019s Influence on the Crypto Market<\/h3>\n\n\n\n

The Grok chatbot and the AI token frenzy are the latest examples of Musk\u2019s influence<\/a> on the crypto market. <\/p>\n\n\n\n

The billionaire entrepreneur, who is also the CEO of Tesla and SpaceX, has been known for his ability to move the market with his actions and tweets, especially regarding Dogecoin, a meme-based cryptocurrency that he has repeatedly endorsed and promoted.<\/p>\n\n\n\n

Elon Musk\u2019s tweets have also affected the price of Bitcoin, the leading cryptocurrency by market cap, as well as other altcoins, such as Ethereum, Cardano, and Solana. <\/strong><\/p>\n\n\n\n

Musk has also announced that Tesla will accept Bitcoin<\/a> as a payment method and that he personally owns Bitcoin, Ethereum, and Dogecoin.<\/p>\n\n\n\n

Musk\u2019s involvement in the crypto space has also attracted criticism and controversy, as some accuse him of market manipulation, misinformation, and irresponsibility. <\/p>\n\n\n\n

Some regulators, such as the US Securities and Exchange Commission (SEC), have also expressed concerns about Musk\u2019s tweets and their impact on the crypto market.<\/p>\n\n\n\n

He has defended his actions and tweets, saying that he is a supporter of crypto and that he believes in its potential to create a better and more inclusive financial system. <\/p>\n\n\n\n

He has also said that he is a free speech absolutist and will not censor or delete any content on X, the social media platform that he owns, and that Grok uses as a source of information.<\/p>\n","protected":false},"excerpt":{"rendered":"

The launch of Elon Musk\u2019s Grok chatbot, a witty and rebellious AI competitor to ChatGPT, has triggered the creation and surge of hundreds of AI-related tokens, some of which have soared over 1,300% in value. Elon Musk\u2019s new AI venture, xAI, has unveiled Grok. This chatbot can access information from X, the social media platform […]<\/p>\n","protected":false},"author":44,"featured_media":63825,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[17099,17024,223,17098],"class_list":["post-63813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ai-tokens","tag-chatbot","tag-elon-musk","tag-grok-token"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/11\/grok-token.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/63813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=63813"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/63813\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/63825"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=63813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=63813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=63813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}