AI Startup Launches $99 ’Friend’ Necklace, Secures $2.5M Funding
Avi Schiffman launched a $99 AI-powered necklace called ’Friend’, described as a virtual companion. Initially aimed at productivity, the device connects via Bluetooth to a phone, interacting through text messages. Despite mixed reactions likening it to Black Mirror or a modern Tamagotchi, the product has garnered significant interest, enabling the company to raise $2.5 million in funding. The funds will be utilized to further develop the product and expand its market reach. This launch occurs amid a trend of poor market reception for AI gadgets, yet investors see potential in blending AI with consumer goods.
Neutral
The introduction of an AI-powered wearable like the ’Friend’ necklace is unlikely to directly impact the cryptocurrency market. While it signifies innovation and investment interest in AI technology, its influence on crypto trading activities remains neutral. Such products generally do not alter market stability or crypto asset valuations, making the impact rather minimal on the cryptocurrency landscape.