Near Protocol just dropped in major updates! They’re currently working on the largest open-source AI model with 1.4 trillion parameters, revealed at the Redacted conference in Bangkok. Not only that, NEAR’s mainnet now also works with MetaMask and all Ethereum wallets, so ETH users can jump in without switching wallets. This led to NEAR’s price to surge by 9% to $5.17, boosted by a huge 139% increase in trading volume after the conference.
On a Redacted conference recently held on Bangkok, Thailand, Near Protocol made an announcement of their ambitious plans for the new AI model they are building. This one is supposed to be the largest open source Artificial Intelligence model in the world. It will contain 1.4 trillion parameters which in perspective is 3.5 times larger than the current open source Llama model by meta.
The project also involves support of collaborations s from the new hub Near AI Research and will be created through crowdsourced research and development. As of November 10 some participants in Bangkok are already able to start training a small model with almost 500 million parameters. Furthermore, the plan is looking to proceed by collaborating with the ones who would make the leap to work on progressively more complex models. Which means the project is bound to grow in size and sophistication through several models, seven to be exact.
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Price Outlook of NEAR
As the time of writing, Near Protocol’s token NEAR is priced at $5.33 with a 24 hour trading volume of almost $1.5 billion. This gives off a very positive vibe as it has managed to increase by 9.78% in just 24 hours and a whopping 44.39% increase in the past seven days. This momentum could break this coin way above its resistance level if it continues on till next week. With a circulating supply of bout 1.2 billion NEAR tokens, the platform is valued at a market capitalization of $6.4 billion.