Creative Transformation: The Revolutionary Power of Image Generation
IMGNAI Token Sees Price Surge After Successful Seed Round
The price of the IMGNAI token has experienced a significant increase following the completion of a seed funding round, which raised $1.6 million. According to CoinGecko, the price of the token has risen by 4.6% this week. Over the past year, it reached a peak price of around $0.024, representing a remarkable 595% increase.
IMGNAI, an artificial intelligence (AI) token, successfully completed its seed funding round with the support of top-tier venture capitalists. Hack VC, based in San Francisco, led the funding round, with additional backing from Rana Capital, Selini Capital, West Ham Capital, and others.
Since the announcement of the completed seed round, the IMGNAI token has experienced a respectable 4.5% increase in the last seven days. With the infusion of new funds, IMGNAI is now gearing up for the imminent launch of Naifu, an all-in-one virtual companion platform. The platform aims to shape the future of generative AI by enabling the creation of art through simple text commands.
According to the team’s website, Naifu will be trained on a diverse range of datasets, following a similar approach to mainstream AI products like OpenAI’s ChatGPT.
CoinGecko’s data shows that IMGNAI is currently trading at $0.02408, representing a 10.2% increase in the last 24 hours.
US CFTC Warns of AI-Driven Cryptocurrency Scams
The US Commodity Futures Trading Commission (CFTC) recently issued a statement cautioning investors about fraudulent schemes that exploit the growing interest in AI to defraud cryptocurrency investors.
The regulatory body has taken legal action against multiple defendants who deceived customers by promoting commodity pools, crypto assets, or investment programs with misleading promises of consistent, above-average returns through AI. However, customers experienced significant financial losses instead, with some cases involving the disappearance of substantial funds, including nearly 30,000 Bitcoin (BTC) valued at approximately $1.7 billion at the time.
The CFTC emphasizes that AI technology cannot accurately predict future changes in the crypto or financial markets, and any claims suggesting otherwise should be approached with skepticism.
This warning serves as a crucial reminder for investors to remain cautious, especially when encountering investment opportunities that seem too good to be true and rely on AI. The CFTC advises investors to exercise thorough due diligence when navigating the evolving crypto landscape.
