Avorak AI Price Prediction: Can Avorak beat the existing competition?
Avorak Presale: Avorak is entering an already competitive market. Is the differentiation strong enough for buyers to pursue?
Avorak Latest News, Aug 1st
- Trading pairs for AVRK/USDT are now live on four exchanges: Coinsbit, Azbit, LAToken and PancakeSwap have the pairs available.
- Avorak’s ICO ended early due to high demand. Over 8,888 investors worldwide participated in the ICO, and the recent launch has attracted more interest, dispelling ICO-related concerns.
Avorak AI Price Prediction: Is Avorak Ai a Good Investment?
Avorak is an AI platform (powered by blockchain technology) that aims to revolutionize crypto trading and content creation. The platform leverages AI technology to empower users with powerful, secure and efficient tools and solutions.
The platform focuses on the creation of innovative products to improve user experience with the combination of Artificial Intelligence and Blockchain Technology.
AVRK is the native token of Avorak Network and has the following use cases:
- Being a utility token, AVRK is required to access the Avorak AI ecosystem.
- AVRK tokens can be staked to earn additional credits of AVRK tokens.
- AVRK can be used to incentivize liquidity provision through DEXs.
- AVRX tokens will also be used as a gas token for Avorak Network.
The purpose of the Avorak ecosystem is to streamline human tasks and decrease the time required for trading, text generation etc.
The following is the products list that Avorak Network will be releasing in stages:
- Text Creation
- Image Generation
- Command Line Trading
- 3-Dimensional Modelling
- Device Management
- Automated Online Shopping
- Automated Video Editing
Avorak Price Prediction: Competition analysis
Avorak is a platform that combines artificial intelligence with blockchain technology to improve the trading experience and content creation. The following are the two major players in this category:
SingularityNet (AGIX) – SingularityNET is the most popular blockchain-based platform allowing anybody to create and monetize AI services. It is the platform that provides an accessible platform for the developer to sell their AI tools.
Fetch.ai (FET) – Fetch.ai is one of the popular blockchain-based AI networks that provides all the required tools for developers to build, deploy and monetize their apps.
Price Movement of the Current Blockchain-based AI networks
Here, we’ll have a brief look at the price performances of AGIX and FET for the last 12 months:
Past performance of AGIX (SingularityNET):
- Last 7 days: -0.5%
- Last 1 month: -13.4%
- Last 6 months: +15.2%
Past performance of FET (Fetch.ai):
- Last 7 days: -3.9%
- Last 1 month: -13.8%
- Last 6 months: -29.3%
- Last 1 year: +112.9%
As we can see that both the cryptos are performing pretty well for the last year, meaning that AI services are growing currently.
Avorak Price Prediction: Current market scenario for the crypto to be launched
As per the report, the global artificial intelligence market is expected to grow at a CAGR of 37.3% by the end of 2030. Thus, Avorak AI has a good chance to grow in the future.
However, numerous platforms leverage AI and Blockchain technologies to bring innovative products to the market. Thus, Avorak AI is entering a highly cluttered market.
Nonetheless, Avorak Network offers a huge array of products to enhance user experience. Its native token is supposed to have numerous use cases in the Avorak Network.
Therefore, to grow and flourish in this competitive market, Avorak AI has to increase its use cases and distinctive features in the coming months.
Avorak AI Price Prediction: Roadmap
Following is the Roadmap for Avorak for the upcoming months:
Q1 2023: It includes alpha-stage trading bot development and starting of the ICO.
Q2 2023: This quarter includes the finishing of ICO and completing alpha-stage image generation development.
Q3 2023: This includes the development of payment viability cross-chain, listing on any centralized exchange and beginning of a trading bot.
Q4 2023: It includes the beginning of the initial Avorak network validator application process, the launch of a publicly accessible chat engine and completing the alpha-stage script generation.
Q1 2024: The first quarter of 2024 includes the launch of the fee-paying model with initial product image generation, the launch of the trading bot and the beginning of alpha-stage integration to Amazon shopping.
Q2 2024: This includes the launch of Avorak Network testnet, roll-up script creation beta, beginning of marketing to developers and completing the alpha-stage integration to Amazon shopping.
Q3 2024: It includes the launch of Avorak Network mainnet, the beginning of work on Automated Video, 3D modeling, base architecture blueprint drafting and device management.
Avorak AI Price Prediction: Conclusion
Avorak is a platform that combines AI with blockchain technology to create innovative products for its users. However, it is not the first network to leverage AI technology for enhancing user experience. Therefore, crypto has to enter into a very competitive market and hence, its differentiating factors and use cases will highly impact its performance in the market.
Also Read: Metacade Price Prediction
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.