DePIN project AIOZ has quickly risen to the top 100 cryptocurrencies by market capitalization after a week of significant growth. The project's market capitalization soared above USD 1.3 billion, and AIOZ's price reached its highest since 2021. AIOZ's recent surge is due in no small part to its new partnership with AiPets, a Web3 game that combines Tamagotchi and artificial intelligence. AIOZ leverages the W3S network of cloud computing to enable AiPets to store data in a secure and decentralized manner.
AIOZ has emerged from the clouds and broken into the top 100 cryptocurrencies by market capitalization over the past seven days. In the past 24 hours alone, the DePIN project has amassed a 27% gain, capping off a week of 50% growth.
In the end, AIOZ's market capitalization exceeded US$1.3 billion (A$2 billion), exploding to its highest value since the coin's inception in April 2021. It's been a memorable year for the token, which started trading at less than US$0.16 (A$0.25) in 2024. – 764% year-to-date increase.
AIOZ Network (AIOZ), annual chart, source: TradingView
So what's behind AIOZ's recent rapid growth?
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AIOZ W3S network leveraged in Telegram minigame with 'smart' companion
AIOZ Network has experienced explosive growth thanks to our partnership with the popular Web3 game AiPets.
AiPets are part of the Telegram minigame wave, but they're more like personal companions than something you tap to earn. The pet offers “personalized interactions” and adapts to your behavior thanks to artificial intelligence coded into the application.
And now, AiPets will leverage AIOZ's physical computing network to store important game data such as NFTs and videos.
AiPets integrates with AIOZ W3S to leverage decentralized storage of in-game assets such as NFT collections, music, and videos powered by over 190,000 AIOZ DePINs.@AiPets_Officialmini app @telegram The ecosystem offers personal AI companion pets that adapt to different situations… pic.twitter.com/O4fyMdSKDI
— AIOZ Network (@AIOZNetwork) November 29, 2024
This collaboration will significantly increase the adoption of AIOZ and provide projects with a great way to prove network efficiency.
What is AIOZ and how does it work?
AIOZ is an ambitious cryptocurrency project that aims to combine blockchain decentralization with the growing artificial intelligence industry.
The team plans to achieve this through DePIN (Distributed Physical Infrastructure Network). Essentially, AIOZ has created a P2P network “comprised of more than 190,000 global edge nodes that provide hardware resources for storage, streaming, and powering AI compute tasks.”
Node operators who start through a simple software application receive AIOZ tokens in exchange for processing power on their devices.
This provides the AIOZ network with the infrastructure to perform powerful AI tasks and run other cloud computing processes.
