Looking Beyond ChatGPT: What Is Ethereum-based CryptoGPT All About?

Lavina Daryanani
Source: Bernard Marr

With every passing day, AI is becoming even more relevant. Thanks to its astounding abilities, Open AI’s chatbot ChatGPT continues to be the talk of the town. On Wednesday, interestingly, a similar crypto-related hashtag called “CryptoGPT” was trending alongside ChatGPT on Twitter.

Source: Twitter

Also Read: China To Promote Integration of ChatGPT’s Underlying AI Tech

CryptoGPT, as such, is an Ethereum-based layer 2 solution. Decentralization and AI are two of its most crucial tangents. The ecosystem is majorly driven towards collecting data for the purpose of AI development.

The solution intends to give users an opportunity to earn crypto for sharing their anonymized data using encrypted zero-knowledge proof technology. The underlying tech aims to preserve user anonymity. At the same time, it helps capturing necessary data points that can be used in building AI models across different industries.

According to the project information on CoinMarketCap, CryptoGPT is the ‘first’ technology to “successfully merge blockchain and AI, built to decentralize the wealth of the trillion-dollar AI and data market.” Additionally, the team claims,

CryptoGPT already has apps with 2 million users – the only AI platform to come close to ChatGPT’s success.

Similar to ChatGPT, even CryptoGPT aims to garner mass retail adoption. This opens up an opportunity of entering the market through consumer apps. Owing to the project’s Web3 native marketing channels and value proposition, CryptoGPT has already on-boarded applications in gaming, fitness, education, and travel, among other genres.

Also Read – Fact Check: Has ChatGPT Released Its Native Cryptocurrency Token?

ChatGPT’s token GPT bags exchange listings

Crypto exchange Bitfinex recently announced the the listing of the project’s native GPT token. According to the official blog post, Bitfinex will open deposits for GPT on March 9. Trading will, however, start on March 10.

Opining on what CryptoGPT is capable of, Henry Child, Head of Tokens at Bitfinex said,

“AI is at the cutting edge of what technology truly can be, it is encouraging to see so many in Web3 not just embrace it, but in the case of CryptoGPT, completely disrupt it and potentially bring it back to individuals.”

Parallelly, Bybit is also listing the token on its spot exchange on March 10 at 11AM UTC.

Also, it is interesting to note that Ripple Net’s former lead developer, Dejan Erja, is currently the CTO at CryptoGPT. He has also worked as an advisor to blockchain tech teams in the Ethereum and Cosmos ecosystems. Alongside, the AI Advisor to the UK Government is also a part of the CryptoGPT team.

Also Read: OpenAI Exec Compares ChatGPT API’s Fee With CryptoPunk Alien NFT