"Do you think this development can push the price of MATIC to go up?"
The MATIC cryptocurrency founded by Polygon Labs is currently hovering below $0.84, but it is worth noting that its price once reached over $1 on December 27, 2023 to reach the highest level of the month.
Recently, Polygon Labs which entered into an agreement with Fox has announced the launch of a technology called Verify which is designed to verify the origin of media content and allow users to determine the true source of articles and images.
The purpose of Verify is also to enable users to distinguish between genuine content or artificial intelligence (AI) generated content following the challenges faced by the media and other parties dealing with issues of citation and copyright in the era of AI.
Please note that Polygon Labs' initiative with Fox is timely given the various legal challenges faced by various media entities, with Fox News currently embroiled in a lawsuit with Smartmatic over the false narratives it disseminates.
While The New York Times filed a lawsuit against OpenAI and Microsoft in December 2023, accusing them of using unauthorized content to train AI chatbots.
In 2023, using AI tools in content creation led to industry upheaval, causing the American Society of Actors and Actresses including the American Federation of Television and Radio Artists to go on strike.
The strike highlights growing concerns over the use of AI in the media and entertainment industry, so here it can be seen that Verify can establish clear boundaries and provenance of content.
As of this writing, the price of MATIC still recorded a decrease of 1.51% at the level of $0.81 in the last 24 hours with a market capital of $7 billion then plunged 17.37% in the last seven days.
