The AI16Z token jumped 50% after getting a nod from a prominent venture capital firm.
An X post from the chief technology officer at a16z sparked a surge in the AI DAO’s token price.
The Ai16z project gained acknowledgment in an X post by an a16z executive, which led to a more than 50% jump in the token’s value on November 18.
Ai16z, a decentralized autonomous organization (DAO), operates under the oversight of an AI called Eliza. Although its name is inspired by a16z, the two are not closely associated.
The X post from Eddy Lazzarin, a16z Crypto’s CTO, on November 18 pointed to an ongoing conversation between a16z and the ai16z DAO.
After Shaw’s X post asking for contact at a16z, Lazzarin responded with “Check your DMs,” hinting at a willingness to engage in public collaboration with the DAO. Shaw’s X bio reads he is a “Partner at ai16z.”
Since launching on October 24, the AI16Z token’s price has increased by nearly 55% in the past 24 hours, and its market cap has exceeded $356 million, according to CoinMarketCap.
“If we are comparing this meta to defi summer then $ai16z is the $AAVE of this world… the tech that everybody forks,” pseudonymous cryptocurrency influencer 0xMerp said in a Nov. 18 X post.
Merp highlights the pivotal role the decentralized finance (DeFi) protocol Aave played in the 2021 DeFi bull market.
Ai16z uses decentralized AI to direct investments and assist projects in the blockchain ecosystem.
“DAO holders will have the opportunity to advise on investment decisions, and our AI will diligently track the performance of these recommendations,” ai16z said in an Oct. 24 announcement.
Read also: Zero Gravity Labs secures $325M to develop decentralized AI operating system
“Those whose insights consistently yield positive outcomes will earn the trust and confidence of our AI.”
Ai16z is governed by Eliza, “a flexible AI tool for creating unique, interactive characters that can connect to Discord and Twitter,” according to a16z’s website.
Eliza “can read links, PDFs, audio, and video, remember conversations, and summarize them for easy review.”
Eventually, ai16z aims to “deploy a network of specialized agents, each optimized to fulfill essential functions within the digital realm – from welcoming new members and moderating discussions to participating in online social games and beyond,” it said on Oct. 24.
After Marc Andreessen donated $50,000 in Bitcoin to Truth Terminal, a semi-autonomous AI agent, in July, agentic AI gained traction among liquid token investors.
