April 1, 2023

Ava Labs CEO Emin Gün Sirer has expressed his skepticism towards the hype surrounding artificial intelligence (AI) in the crypto industry. In a recent interview for the gm from Decrypt podcast, Sirer stated that the valuations of AI projects are sky high, with some valued at $30 billion despite their limited capabilities. He cautioned investors against putting all their resources into AI, stating that there is only so much one can do in that space. Despite his reservations, Sirer did not intend to create FUD around AI-driven projects in the blockchain industry. According to CoinMarketCap, AI tokens like Fetch and Singularity account for almost $5 billion of the $1 trillion crypto global market capitalization.

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