AI16z Token Soars 50% After Venture Firm Backing

Ai16z token jumped 50% on Nov. 18 after a16z’s CTO acknowledged the AI-led DAO project in a post on the X platform.

After a senior official from the venture capital firm a16z, the namesake of the token acknowledged the project in a post on the X platform, Ai16z token soared by more than 50% on November 18.

The artificial intelligence agent Eliza is in charge of Ai16z, which bills itself as a decentralized autonomous organization (DAO).

Although venture firm A16Z is mentioned in its name, the two organizations are unrelated.

An ongoing conversation between the venture business and the ai16z DAO was sparked on November 18 by an X post made by Eddy Lazzarin, the chief technological officer of a16z Crypto.

One of the creators of ai16z, Shaw, asked for a contact at a16z in a post on X.

“Check your DMs [direct messages]” was Lazzarin’s fast response, suggesting that he was willing to work with the DAO in public.

According to CoinGecko, the price of the AI16Z token has increased by around 55% in the last day.

Since its October 24 start, its market valuation has grown to almost $480 million.

In a post published on Nov. 18, cryptocurrency influencer 0xMerp, using a pseudonym, stated, “If we are comparing this meta to defi summer then $ai16z is the $AAVE of this world… the tech that everybody forks.”

Merp is alluding to the significant contribution of the DeFi protocol Aave to the bull market in decentralized finance in 2021.

Ai16z wants to help projects in the blockchain ecosystem and guide investments using decentralized AI.

In an announcement released on October 24, ai16z stated, “DAO holders will have the opportunity to advise on investment decisions, and our AI will diligently track the performance of these recommendations.”

“Those whose insights consistently yield positive outcomes will earn the trust and confidence of our AI.”

According to its website, Ai16z is run by Eliza, “a flexible AI tool for creating unique, interactive characters that can connect to Discord and Twitter.”

In addition to remembering conversations and summarizing them for convenient perusal, Eliza “can read links, PDFs, audio, and video.”

AI16z stated on October 24 that its ultimate goal is 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.”

Since a16z co-founder Marc Andreessen gave $50,000 in Bitcoin to Truth Terminal, a semi-autonomous AI agent, in July, agentic AI has been a popular topic among liquid token investors.