A recent study conducted by researchers at the Blockchain Research Lab in Hamburg, Germany indicates that OpenAI’s launch of ChatGPT represented a rising tide scenario for cryptocurrency assets related to artificial intelligence (AI).
Launched in November of 2022, ChatGPT quickly became one of the fastest-growing web platforms in history, eclipsing 1 million daily users in just five days and reaching the 100 million monthly users mark by January 2023. As of June 2023, it’s difficult to tell exactly how many monthly users the app now serves — OpenAI hasn’t disclosed any official user statistics — but some reports suggest that number may be as high as 1 billion.
The performance of AI and non-AI cryptocurrencies. Source: Saggu and Ante, 2023: “The influence of ChatGPT on artificial intelligence related crypto assets: Evidence from a synthetic control analysis”
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