Why is Livepeer (LPT) Price Pumping? The Project Is Moving Towards This High Demand Industry

The native token of the Livepeer network, LPT, has seen a notable price rise over the last couple weeks. Specifically, LPT has pumped 10% today and 30% over the past month. What’s behind this recent momentum?

Livepeer’s Pivot Towards AI Video Infrastructure

In a series of tweets, Livepeer founder Eric Tang laid out plans to integrate AI video capabilities into Livepeer’s existing video processing infrastructure.

As Tang explained, demand for AI computing infrastructure has exploded recently amid surging interest in AI models. Livepeer operates an extensive network of GPUs designed for video encoding and streaming – presenting an opportunity to repurpose some of this spare capacity towards running AI video models at a lower cost.

Initially as a trial, Livepeer plans to launch a fork of its node software to allow network participants to run AI video generation and enhancement tasks if they wish. The goal is to gather data on just how cost-effective Livepeer’s decentralized infrastructure is compared to centralized cloud services for these AI workloads.

If successful, video developers could eventually deploy their own AI models directly on Livepeer’s network – with the infrastructure’s open source media components providing an added development boon.

Celebrate Dogecoin and Make Big Gains with Doge2014!

Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Show more +

LPT Price Reaction

The market appears to be enthused by Livepeer’s pivot towards offering AI capabilities alongside its core video infrastructure offerings.

Crypto industry commentator iamnico.eth highlighted the long-term potential if Livepeer successfully merges interactive video and AI:

“The future of interactive live video is beyond what you can currently imagine. Every viewer getting personalized product placement within the content they watch.”

This sentiment likely resonates with LPT holders, translating into the token’s recent upwards price action. Traders seem confident that expanding into AI computation will be a smart move for Livepeer that unlocks more value – boosting LPT’s investment thesis.

In summary, plans to integrate AI functionality onto the Livepeer network looks to be the primary catalyst behind LPT’s 30% price rise over the past month. As Livepeer etches closer towards becoming a “decentralized AWS” for both video and AI workloads, LPT may continue seeing further upside.

You may also be interested in:

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo