Livepeer announced its newest feature, an AI video generation layer. Livepeer set up expectations for its upgrade, which was finally announced during Berlin Blockchain Week. Livepeer will also present its new developments in Berlin during talks dedicated to decentralized content creation and streaming.
Livepeer added generative AI capabilities and launched a video generation subnet. The new feature will combine Livepeer’s approach to fast decentralized streaming with added AI computation capabilities.
In a market where AI-generation resources create bottlenecks, Livepeer aims to find abundance. All network participants will share their GPU for AI tasks, allowing faster access to independent creators.
Livepeer Branches Out Video Distribution Network
The new AI generation tool is a fork of the current video distribution network. Livepeer will continue to distribute low-lag video with its decentralized network.
The new AI subnet will work as a sandbox to test AI features, allowing end users to deploy common AI tasks. With time, users will be able to access custom-built visual models.
With the latest subnet, Livepeer expands its small portfolio of products, all centered on user-generated content. Livepeer uses decentralized computing to support various projects like DJ radio streaming, crypto video content, and an Ethereum-based event and streaming service.
Livepeer LPT Tokens Turn Inflationary
Livepeer LPT tokens have been widely produced as a reward for the 100 Orchestrators who set the consensus for the network’s final state.
In the past few months, delegated tokens decreased, while new orchestrator rewards entered the market. LPT now has a slow inflation rate of 0.046%.
Livepeer is also one of the significant features on the Arbitrum network, while also retaining some of the activities on Ethereum.
Livepeer Project Sits on Growing Treasury Value
With Livepeer’s ambitious project, funding is one of the key issues. Livepeer has benefitted from its expanding treasury, which may be used initially to boost AI computation capabilities.
All spending from the treasury will be subject to vote, with voting rights granted to LPT token stakers. Some of the first voting issues on Livepeer will decide the initial funding of AI computational resources.
Livepeer is also one of the older projects, with some of the first fundraising token sales back in 2018. Since then, Livepeer has also attracted venture capital to raise a total of $50M from 22 investors and VCs targeting crypto projects.
Also read: Livepeer (LPT) Coin is Trending: Announcement Coming Up for Web3 Social Media Platform
Despite including venture capital, LPT tokens are distributed widely and have traded and changed hands for years. LPT is also key to rewarding node operators and delegators, increasing the token’s distribution.
AI Announcement Pushes LPT Closer to One-Month Peak
LPT had a successful run in May, adding more than 50% to its value and bouncing from lows of $11.85. After the AI announcement, LPT expanded to $21.75. May’s peak for LPT was at $21.85.
LPT is also one of the older tokens, already entering its third bull market. The asset peaked at $71.84 during the Web3 boom in 2021 and 2022, and has been mostly in the green for years. LPT was also distributed to early buyers at $0.94 per token, and it was also airdropped to wallets containing a balance of ETH.
Also read: Livepeer Price Prediction 2023-2032: Will LPT Price Spike Higher?
Due to its early adoption, Livepeer was also added to Grayscale’s portfolio in 2021. What is even more curious is that the Grayscale Livepeer Trust has traded at double the prices of LPT on crypto markets.
In the past few days, Grayscale’s asset has reached parity, trading at an equivalent of $28 per token. In March, Grayscale’s product peaked above $68, while LPT was trading around $23. The long popularization campaign and airdrops boosted LPT’s position, even with mainstream investors.
Cryptopolitan reporting by Hristina Vasileva
