An artificial intelligence-focused crypto project is exploding amid an industry-wide boom in interest and adoption of AI technology.

The Ethereum-based project SingularityNET (AGIX) has jumped from a low of $0.16 to a high of $0.44 in just one week – a 175% increase.

SingularityNET is a blockchain-based marketplace for artificial intelligence services ranging from individual AI algorithms to standalone AI applications.

The team behind the project says it’s working to build an ecosystem of projects to drive growth and token utilization in areas such as decentralized finance (DeFi), robotics, biotech, gaming, media and enterprise-level AI.

The project has also announced a transaction milestone, with more than 200 million tokens sent through its SingularityNET blockchain bridge.

The bridge is designed to give crypto holders the ability to transfer tokens to and from the Ethereum (ETH) and Cardano (ADA) networks.

Last month, we passed an important growth milestone on our journey toward becoming chain-agnostic, with +200m transacted tokens on the #SingularityNET ERC-20 bridge.?

Thanks as ever to the amazing #CardanoCommunity for the ongoing support!

Here’s to the first billion! ? pic.twitter.com/rAPjzEPFc1

— SingularityNET (@SingularityNET) February 3, 2023

SingularityNET isn’t the only AI-focused crypto asset that has exploded in the last week.

Fetch.ai (FET) – another platform that aims to bring together artificial intelligence and blockchain technology – has moved from $0.26 to a high of $0.47. That’s a whopping 80% increase.

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Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia