Huge growth in Chatbot economies — getting ready for The Hut34 Project!
This is post 2 of 7 in our final countdown to the close of our token sale (and yes, I’ll enourage you once again to pause at this moment, and be transported to Nordic climes!).
When we explain The Hut34 Project for the first time to interested people, we often explain how it will allow chatbots to connect to each other, to route queries to each other, and to both receive answers to those queries, and complete an Entropy Token transfer associated with the data (ie buy and sell the data).
This is a really good way to introduce some of the key concepts of ‘Connect, Route, Resolve, Monetise’ which form the central planks of the Hut34 Network’s functionality.
To further understand how huge the opportunity is though, we need to have a look at just how large the chatbot economy has already become, before we then apply Metcalfe’s law to consider the value of an open interconnected network.
Venture Beat wrote an interesting piece on this earlier this year, and the numbers are really quite staggering. Websites have sprung up to report the latest funding the chatbot industry is attracting, and our own one pager gives the details of the $6 trillion (yup, trillion!) IoT market, and $5.6bn chatbot economy by 2027 and 2025 respectively. This is simply an enourmous opportunity, and we’re gearing up to build and launch The Hut34 Project as an open, distributed network.
Some of our key metrics in the first stages will be the number of connections to the network (again, see Metcalfe’s law for the effect on value), and of course the number of developers and partnerships we secure to make the entire project stronger. We have nothing specific to announce at this time, but there are some fantastic tech companies working in this space, such as http://heyday.ai/ and others. So far, the feedback we’ve had has been extremely positive.
So it’s 6 days to go until the close of the token sale. The Entropy Token supply is fixed forever at 100,000,000, and you can currently secure tokens at the rate of 500 per ETH. You can read all the details over at https://hut34.io/ and purchase your tokens at https://hut34.io/tokenSale
Onwards and Hutwards!