Despite the news, PI’s price is in red territory today (October 30).
The controversial crypto project Pi Network collaborated with an AI-focused company that allows robots and intelligent systems to interact with their environments and with each other.
The three main objectives of the partnership will be to increase the utility of PI, enable more of the world’s production to run on Pi Network, and bring the asset into real-world use cases. The token’s price has surged by double digits in the past week following some other notable developments.
Jumping Into the AI Trend
Pi Network Ventures, an entity within Pi Network’s ecosystem that invests in startups and businesses across multiple industries, made its first investment in OpenMind. The latter is a company developing an operating system for robots “to think, learn, and work together – like Android for robots.”
According to Pi Network’s team, this collaboration aligns with the project’s vision for the future of blockchain technology and Artificial Intelligence, where “decentralized infrastructure supports open innovation and equitable participation.”
In addition to the investment, the two entities have shaken hands on a completed proof-of-concept project where volunteer Pi Node operators run image recognition AI models for OpenMind.
“This early experiment, where OpenMind’s AI models can run on Pi Node infrastructure, explores the capability of Pi’s global network of nodes to support decentralized AI training and computing tasks – another Pi Node utility in addition to securing the Pi Ledger. This is also a platform-level utility, relying on the collective resources of the network, i.e., computation power of its over 350,000 active nodes,” the disclosure reads.
Pi Network’s team recognizes the technological advancements in the AI world, hoping that engagement with that niche could be beneficial for its native cryptocurrency and the entire ecosystem.
PI Price Outlook
The news of the collaboration seems to have caused only minor volatility for PI. As of this writing, it trades around $0.25, down 4% over the past 24 hours.
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The decline aligns with the broader retreat of the crypto sector following the Fed’s expected decision to lower interest rates in the United States by 0.25%. X user Marzell argued that the event was already priced in, leading to a classic “buy the rumor, sell the news” scenario.
“That means many traders bought PI in anticipation. Once the decision is confirmed, profit-taking could trigger a sharp pullback,” he claimed.
In his view, the overbought technical signals and the remaining core structural issues may also have contributed to PI’s pullback over the past day.
However, the token is among the top-performing cryptocurrencies on a weekly scale, registering a 27% pump. Some of the elements fueling the comeback within that timeframe include renewed rumors that Pi Network has joined the ISO 20022 race and the official activation of the Testnet2 v23.
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