ChatGPT's astounding triumph has inspired the creation of numerous AI projects, including chatbots and neural networks. The cryptocurrency market is also experiencing a period of excitement. Although no one has matched ChatGPT's performance, several initiatives have gained significant traction.
CryptoGPT: a ZK Layer 2 blockchain
Since its launch in the second half of 2022, the CryptoGPT project has achieved significant milestones, including:
- Audience: 2 million users
- Project capitalization: $15 million
- Current price of the CryptoGPT native token: $0.0448 (as of the third decade of April 2023)
- Tokens for sale: 3,000,000,000 (20% of the total supply).
Following a recent Series A funding round led by market maker DWF Labs, the Layer-2 protocol's valuation has soared to $250 million. The company plans to expand its user base to 5 million by Q2 of 2023 and reach 10 million in the following quarter.
Luminaries behind CryptoGPT
The success of any project is usually attributed to the talented individuals behind it. In the case of CryptoGPT, the project was created by the DAO Maker and StepApp/Primal teams.
The CEO of the startup is Jamila Jelani, who previously led marketing efforts at Alibaba Group.
The CTO is Dejan Erja, the former CEO of Ripple Gatehub and an expert in scaling ETH.
The Head of the App Ecosystem is Art Bagdonas, who previously led the European startup HomeToGo.
Key benefits of CryptoGPT
To be frank, CryptoGPT's primary marketing advantage is the buzz surrounding AI and chatbots, a theme the project opportunistically capitalizes on. The token symbol is currently "on everyone's lips" due to the triumph of the namesake chatbot.
It is worth mentioning that the project's partnership with DAO Maker, a renowned IDO platform, is also of significant importance. The IDO (Initial DEX Offering) mechanism involves issuing tokens backed by liquidity pools on DEX.
One potential advantage and strategy worth mentioning is the ability to earn from personal data. In popular projects such as M2E and P2E, users need to be active by walking, playing, or even purchasing NFTs to earn tokens. Access to tokens is not easy to obtain here. However, with CryptoGPT Launcher, users can potentially earn passive income by collecting their data from any preferred application.
AI to Earn
The new startup positions itself with incredible modesty as a data revolution. However, it doesn't forget about the user, offering a new earning model called "AI to Earn" – inviting users to earn money together.
With AI to Earn, users can:
- sell their data to medical companies, educational projects, or other users;
- sell permission to AI for the use of their data to enhance neural networks and develop novel applications.
Essentially, the CryptoGPT slogan encourages users to turn every task in their daily life into a source of income.
The project's AI ecosystem allows for the secure storage and handling of vast amounts of data, with absolute confidentiality and security for all participants. Personal information is not only accountable to artificial intelligence but also fortified by ZK-rollups, and zero-knowledge proofs that ensure privacy. Summarized data will be inscribed, retained, and conveyed via Data Capsule NFT.
Users can utilize the CryptoGPT coin for network transactions, staking, payment of fees, and other purposes. The tokenomics also includes venture investment, buybacks, burning, and the enhancement of profitability.
At the same time, the project generates revenue from:
- Ethereum fees;
- Core applications;
- GPT data market;
- Data Capsule NFT sales.
CryptoGPT price fluctuations in 2022-2023 Source: CoinMarketCap
Potential unlocks
The creators have allocated 10% for the TGE (token generation event) for regular investors and 20% for stakers. After a 90-day cliff, a monthly unlocking of 4.5% will occur for regular participants and 4% for stakers. The exact dates of the sales, however, remain undisclosed. The company advises keeping a watchful eye on regular updates.
Prospects for the CryptoGPT
The popularity of chatbots may be at its peak, but CryptoGPT is looking towards the future by expanding its functionality. In addition to its successful chatbot, the project has launched a new AI assistant named "Alex" and is currently developing a data-to-AI mechanism for commercial applications. With these innovations, CryptoGPT is positioning itself to provide valuable market solutions regardless of the changing trends in the industry.
