Solana has recently launched a plugin that enables users to check wallet balances, transfer tokens, and even purchase NFTs. According to information on the Solana website, the initial implementation of the AI plugin is geared towards end-users, with Solana focusing on helping them onboard effectively into the Web3 space.
Solana co-founder, Anatoly Yakovenko, believes that AI integration should be a priority for every developer building consumer-oriented apps.
Yakovenko stated that “Every developer building consumer-oriented apps should be thinking about how their app is going to be interacted with through an AI model because this is a new paradigm for telling computers what to do.”
Following the announcement, Solana’s native cryptocurrency, SOL, experienced a 3.5% gain. Additionally, AI tokens, such as Render (RNDR), also responded positively to the news, with RNDR leading the top gainers with an 11% price increase. The sudden surge in RNDR’s price to $2.705 marked a year-to-date high and broke above significant resistance. However, some users are cautious about potential retracements, considering the confluence of events supporting a retest of the newly formed supports.
Users have observed that AI tokens tend to react significantly to related developments, similar to the behavior of meme coins in the past. As a result, there are expectations that significant innovations, such as Solana’s ChatGPT integration, could trigger some degree of volatility among AI tokens.
The press release also disclosed that there has been an increase in funding for Solana’s AI-focused strategic grants program. Initially set at $1 million, the program now offers up to $10 million to incentivize the exploration of use cases involving machine learning models interacting with Solana protocols in a secure manner. The rolling grants program has already received 50 applications, and both new and existing projects are encouraged to apply.
In addition to the grants program, the Solana Foundation has launched a three-month-long accelerator program for university students. The program has received an overwhelming response, with numerous project proposals and contributions submitted.
The announcement comes shortly after OpenAI’s entry into the app world with ChatGPT on May 19, leading to a significant increase in the price of AI-based crypto tokens like Render (RNDR).