Luno Lists Bittensor (TAO) Token, Expanding the Reach of This Decentralized AI Protocol to New Markets

The crypto world saw a significant development this week from Luno, a prominent regulated cryptocurrency platform in emerging markets. Luno announced the Bittensor TAO listing

Prominent regulated cryptocurrency platform in emerging markets, Luno, has integrated Bittensor’s unique decentralized AI crypto protocol for users.

Announcing the Bittensor TAO listing, Luno adds the token to its platform in South Africa, Nigeria, Uganda, and Indonesia. This expands the protocol’s presence to new users in key rapidly digitizing economies. It also makes the TAO token more accessible for retail and institutional investors in these markets. The listing has already generated enthusiasm across forums, signaling strong initial interest and potential increases in trading volume.

What Is Special About Bittensor?

Bittensor stands out through its combination of blockchain and machine learning. Its native token (TAO) powers a decentralized AI crypto network where users construct and monetize artificial intelligence models. This unique fusion has attracted developers and investors, fostering a growing community eager to participate in the evolution of decentralized AI.

With the recent Luno listing, the project achieves notably greater exposure and added legitimacy among potential users. This is especially true in areas where crypto adoption is rapid and interest in diverse AI applications is rising. This enhanced visibility, especially in emerging markets, could signify a turning point for broader digital finance.

Why Does This TAO Listing Matter Right Now?

The Bittensor TAO listing on Luno comes as the token has recently shown a considerable upward trend. Recent TAO token analysis highlights a 13% weekly price increase, despite the generally stable crypto market. Analysts attribute this specific growth mainly to rising institutional attention and several key technical enhancements implemented recently.

These upgrades include compatibility with the Ethereum Virtual Machine (EVM) and the significant dTAO upgrade’s important release. The dTAO upgrade introduced an updated governance framework and completely revised tokenomics structures for better efficiency. The consequence has been a notable increase in staked TAO tokens, driving market capitalization over $3 billion.

NEW LISTING

Bittensor ($TAO) is now available to buy, store, and explore on Luno.

Bittensor is a decentralised network that aims to democratise AI development, powered by its native $TAO token.

Available with Luno in: South Africa, Nigeria, Uganda, and IndonesiaStart…

— Luno (@Luno) February 21, 2024

Beyond price, the core value of this decentralized AI project lies in its unique machine learning structure. Unlike conventional AI ecosystems dominated by large tech firms, Bittensor enables individuals worldwide to contribute useful machine learning models.

These diverse models compete openly based on utility and precision, rewarding the best contributors directly with TAO tokens. This unique incentive model democratizes AI development and ensures vital innovation can avoid restrictive corporate silos effectively. Luno’s listing provides everyday users with a tangible entry point into this evolving ecosystem, bridging theoretical AI with practical technology.

How Does Luno’s Strategy Boost Bittensor?

Luno’s decision regarding the Bittensor TAO listing aligns with its strategy for offering diverse digital assets. Operating in more than 40 countries with over 13 million users, Luno is a leader in regulated crypto adoption, especially in Africa and Southeast Asia.

Just before adding TAO, the exchange included Algorand and NEAR Protocol on its established Malaysian platform. This showcases its ongoing commitment to diversifying investment options available for users across its markets. Company representatives state this rigorous vetting standard boosts investor confidence and supports long-term asset stability.

For Bittensor, this listing signifies more than simply another place to trade TAO tokens strategically worldwide. It represents a strategic advance into markets known for young populations and widespread mobile use globally today.

These markets also show growing interest in both artificial intelligence applications and blockchain technology fundamental trends. South Africa, Nigeria, Uganda, and Indonesia have expanding tech-savvy demographics, many of which lack adequate access to conventional financial services.

By facilitating access to this digital currency, Luno provides essential investment opportunities for these underserved populations. This access also paves the way for new contributors to join the Bittensor network actively building AI.