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    ai16z cryptocurrency value surges following endorsement by a16z executive

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    The cryptocurrency ai16z saw its value surge by more than 50% after receiving recognition from a16z executive Eddy Lazzarin on social platform X. The digital token serves a decentralized autonomous organization (DAO) led by an artificial intelligence entity named Eliza. ai16z references venture firm a16z, though they are not directly related. The value increase came after Lazzarin indicated a potential partnership with the DAO on the X platform. The currency, launched in October, now has a market cap exceeding $480 million. The DAO plans to use decentralized AI to guide investments and support blockchain projects.

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    On Nov 18, the value of ai16z’s digital token shot up more than 50% after a high-ranking exec at a16z, a venture capital firm, acknowledged the project on the X platform.

    ai16z brands itself as a DAO (decentralized autonomous organization) which is directed by an AI (artificial intelligence) entity called Eliza. The name ai16z is a reference to the famous venture firm a16z, even though the two aren’t directly connected.

    On the same day, Eddy Lazzarin, chief tech guy at a16z Crypto, posted on the X platform hinting at a conversation between the venture capital firm and the DAO named after it. This all happened after one of ai16z’s founders asked for a contact person at a16z on the X platform. Lazzarin replied, suggesting that he’s open to a public partnership with the DAO.

    Within 24 hours, the price of ai16z’s token surged nearly 55%, according to CoinGecko, a crypto market platform. It’s worth more than $480 million in market cap now since its launch on Oct. 24.

    An influential crypto geek named 0xMerp, likened ai16z to AAVE while chatting on the X platform on Nov. 18. In the crypto world, AAVE is well-known due to its impactful role in the 2021 bull run of decentralized finance (DeFi).

    ai16z has big plans to use decentralized AI to guide investment decisions and provide support for blockchain projects. Those contributors whose advice consistently leads to successful results will get a pat on the back from our AI, according to an announcement from ai16z on Oct. 24.

    Eliza, the AI that guides ai16z, is a tool designed to create unique, interactive personalities that can connect with platforms like Discord and Twitter, as per a16z’s website. It can remember and sum up conversations, and even read links, PDFs, audio, and video.

    Ultimately, ai16z plans to launch a network of specialist agents, each one tweaked to carry out key roles in the digital space. These roles range from greeting new members and moderating talks to playing online social games and more.

    The idea of AI with agency has become a hot topic for investors in digital tokens, after Marc Andreessen, co-founder of a16z, gave $50,000 of Bitcoin to Truth Terminal (a somewhat autonomous AI entity) back in July.

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