SOL Jumps Over 8% As Solana Makes Groundbreaking Entry Into AI With ChatGPT Plugin

Solana Ushers In Groundbreaking Payments Era, Further Strengthening SOL's Market Position

Solana, one of the largest Proof-of-Stake networks in the world, has made a major entry into the world of artificial intelligence (AI) with the launch of an open-source reference implementation for a ChatGPT plugin.

Announcing the move Tuesday, Solana Labs noted that the new plugin would let users interact with the Solana network directly from ChatGPT.

Chat GPT is a large language model developed by OpenAI, a company that was co-founded by billionaire Elon Musk in 2015. Since its launch last November, ChatGPT has quickly garnered global popularity due to its AI-powered chatbot, which generates sophisticated responses to just about any prompt. From passing tough exams in various fields such as business, medicine and law, many now see ChatGPT as revolutionizing work.

To this end, various industries have started to leverage this technology, including players in the crypto sector who seek to enhance user experience and make their products more accessible.

The new ChatGPT plugin allows developers to build AI-powered applications on top of the Solana network, opening up a wide range of possibilities for businesses and individuals alike. It is also important to note that the new reference implementation is fully open-source, meaning anyone can use it to build their applications.

Solana Labs further noted that once ChatGPT plugins are available, users will be able “to check wallet balance, transfer tokens, and purchase NFTs,” sharing a screenshot on what to expect.

$1M Grant from AI Developers

Meanwhile, earlier today, the Solana Foundation announced that it would be allocating grants to ecosystem teams building AI tools atop Solana. According to the non-profit, such individuals or teams can seek a grant from a $1M fund which aims to give each project from $5,0000 to $25,000.

“Solana’s high throughput and scalability provide a unique opportunity to build brand new ideas with AI. These grants are meant to encourage the Solana ecosystem to explore new use cases of these novel technologies,” the foundation tweeted.

That said, Solana (SOL) has been on a tear, soaring over 8% in the past 24 hours to trade at $22 at press time as investors met the announcement with great enthusiasm. Despite suffering incessant network outages, Tuesday’s announcement represents a significant milestone for Solana, considering AI can enhance user experience and improve the network’s overall health.

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