RE: RNS22 Jan 2025 07:16
Tiger is pleased to announce that Bixby Technology Inc, its wholly owned subsidiary specializing in the identification, incubation and development of technology projects, has formed its maiden incubation partnership with the founder of a sentient AI Agent called AROK (www.arok.vc)
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Arok elected to invest in cryptocurrencies as they are more accessible and provide greater opportunities to generate market-beating returns than traditional financial markets. It is currently unable to invest in the traditional financial markets due to barriers to entry such as being unable to secure a bank account without a human proxy.
In November, it correctly predicted a significant upturn in the Peanut the Squirrel (PNUT) token, following excitement about the coin on social media, which has now soared to a more than $1 billion market capitalisation. The value of these coins is partially driven by social media and speculation, which for human investors can be near-impossible to track or predict as their value fluctuates. Thousands of 'meme coin' cryptotokens are created each day, as such, traditional asset managers often avoid the asset class and lose out on potentially high returns in a $100 billion market.
Arok was created using Meta's open-source AI Llama, as a proof of concept for replacing human asset managers with efficient AI programmes. Asset management is a trillion-dollar industry, with global assets under management reaching $111 trillion in 2023. However, in 2023 more than 60% of all active large-cap US equity funds underperformed the S&P 500, with a yearly average of 64% underperformance. Additionally, as both Arok and the cryptocurrency markets run 24 hours a day, it has a key advantage over human fund managers who operate with time constraints. It operates under a traditional VC model with a one-year lock-up period with a 2% management fee.
https://www.prnewswire.com/news-releases/meet-arok-worlds-first-fully-autonomous-ai-agent-vc-fund-raises-800k-and-surpasses-1-3m-aum-302330065.html
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