New AI Product Sparks Optimism For Hedera; Is HBAR Price Eyeing $1?

HBAR Crypto News: Hedera (HBAR) is making significant progress despite the fact that the broader cryptocurrency market is experiencing a roller coaster of ride. The network’s performance has been able to distinguish it from the rest of the crypto space, and this distinction has attracted the interest of the crypto community and developers alike.

Hedera’s Growing Ecosystem

With new products being launched on the network, the latest entry from Unthink.AI allows the Hashgraph-powered layer one solution to leave a mark in the brewing AI industry. Hedera’s development arm, the HBAR Foundation, announced on Thursday the launch of Unthink.AI. The new decentralized application (Dapp) is an e-commerce content creation platform for Web3 that makes use of the Hedera Token Service (HTS) to run its operations. It also makes use of the capabilities of artificial intelligence (AI) and “real-time personalization algorithms” to streamline online advertising.

Read More: Check Out The Top 10 DeFi Lending Platforms Of 2023

Hedera will be able to assist companies in reaching prospective purchasers in the appropriate context, such as on content or gaming websites, where they spend the majority of their time, with the support of Unthink. For instance, a person searching a website for hiking destinations would come across an article offering advice on hiking equipment. The text would be embedded with recommended product sections (for instance, hiking shoes), allowing users to immediately click through and make a purchase.

While speaking on the recent announcement, HBAR Foundation’s Head of Payments, Pete Mensah was quoted as saying:

We look forward to introducing the new customers and creators attracted to the innovations of Unthink to Hedera NFTs.

Hedera was chosen as the preferred choice because of the scalable nature of the HTS when it comes to the generating NFT collections from the perspectives of speed, security, and fees. On the carbon-negative Hedera network, the cost of minting a collection of 10,000 NFTs is only $76.80 USD.

Hedera (HBAR) Price Action

By utilizing the Hedera Token Service (HTS), Unthink is able to provide content creators and publishers with tiered advantages via NFTs that function in a manner analogous to loyalty tokens. An NFT is awarded to the creator for actions such as producing new content, generating sales, driving traffic to a brand’s website, and similar activities. This token can be used to claim incentives from a variety of partners, including companies, agencies, and publishers, among others. In the not-too-distant future, Unthink will also make it possible for businesses to construct their very own NFTs by utilizing the platform. This will make it possible for brands to build their very own communities centered around their products.

In addition, on February 7th, IT giant Dell joined Hedera’s governing council, making it the platform’s 28th member. Subsequently, the value of the altcoin soared by around 15% within just a few hours of the press release on this piece of HBAR crypto news. Some eminent corporations, like Boeing, IBM, Google, LG, and Ubisoft among others, already have representatives on the board of the governing council.

Recent developments have led many to believe that Hedera could be among the top-performing projects for the year, with its HBAR token eyeing a significant price increase to $1. As things currently stand, the price of Hedera (HBAR) is trading at $0.079, which is a decline of 3.8% over the course of the last 24 hours as opposed to a gain of 17% over the previous thirty days.

Also Read: Hedera Records Massive Jump In TVL; Is HBAR’s Price Gunning For Bull Run?

Pratik has been a crypto evangelist since 2016 & been through almost all that crypto has to offer. Be it the ICO boom, bear markets of 2018, Bitcoin halving to till now – he has seen it all.