Image Generation AI (IMGNAI) Sees Price Increase Following $1.6 Million Seed Round
Image Generation AI (IMGNAI) has experienced a significant price surge after announcing the completion of its seed funding round, which raised $1.6 million. The price of the IMGNAI token has risen by 4.6% this week and has seen a 595% increase in the past year, reaching a peak of around $0.024.
IMGNAI Completes Seed Funding Round
IMGNAI, an artificial intelligence (AI) token, successfully completed its seed funding round with support from top-tier venture capitalists. Hack VC led the $1.6 million funding round, with additional backing from Rana Capital, Selini Capital, West Ham Capital, and others. The announcement of the completed seed round resulted in a 4.5% increase in the value of the IMGNAI token over the last seven days.
IMGNAI Prepares for Naifu Launch
With the new funds, IMGNAI is now nearing the launch of Naifu, an all-in-one virtual companion platform. Naifu aims to shape the future of generative AI by allowing users to create art through simple text commands. The platform will undergo training using various datasets similar to mainstream AI products like OpenAI’s ChatGPT. Currently, IMGNAI is trading at $0.02408, representing a 10.2% increase in the last 24 hours according to CoinGecko.
CFTC Warns Against AI-Driven Cryptocurrency Scams
The U.S. Commodity Futures Trading Commission (CFTC) issued a statement alerting investors about fraudulent schemes that exploit the growing interest in AI to defraud cryptocurrency investors. The CFTC has taken legal action against several defendants who deceived customers with misleading promises of consistent, high returns through AI-based commodity pools, crypto assets, or investment programs. The scams have resulted in significant financial losses, including the disappearance of nearly 30,000 Bitcoin valued at around $1.7 billion. The CFTC emphasizes that AI technology cannot predict market changes and advises investors to be cautious and conduct thorough due diligence when considering AI-based investment opportunities.
Hot Take: Investors Warned About AI-Driven Crypto Scams
The U.S. Commodity Futures Trading Commission (CFTC) has cautioned investors about fraudulent schemes that use artificial intelligence (AI) to deceive cryptocurrency investors. These scams promise consistent high returns through AI-generated algorithms, but the CFTC warns that AI technology cannot predict market changes and urges investors to remain vigilant. The CFTC’s statement serves as a reminder for investors to exercise caution and conduct thorough due diligence when evaluating investment opportunities that leverage AI.
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