The blockchain company CryptoGPT, which focuses on AI, recently raised $10 million in a successful Series A funding round, bringing its valuation to $250 million. The round, which is led by DWF Labs, a prominent market maker during the crypto bear market, aims to take advantage of the growing interest in AI technology.
Introducing Web 3-Centered AI Assistant “Alex”
CryptoGPT has presented its Web3-centered simulated intelligence collaborator, “Alex,” while simultaneously fostering its zero-information (ZK) rollup layer 2 blockchain and information to-computer-based intelligence motor. This inventive innovation accumulates, encodes, and moves information for different business applications.
Not at all like different stages that apply ZK innovation for installments, CryptoGPT uses this innovation for private information moves. According to Dejan Erja, co-founder and CTO of CryptoGPT, the company will be able to expand its developer team worldwide and strengthen its presence in Asian markets with the funds obtained from the Series A round.
CryptoGPT’s Objective – Monetizing Data
The primary objective of CryptoGPT is to enable users to monetize their data in a variety of industries, including fitness, dating, gaming, and education. In addition, the business intends to launch non-fungible tokens (NFTs) that keep track of the owner’s activities.
Since the start of the year, the chatbot ChatGPT’s success has fueled a surge in interest in the AI-focused cryptocurrency market. However, there is some skepticism regarding the tokens’ long-term viability. Pundits contend that the new gains might be brief cost siphons driven by crafty brokers exploiting the promotion.
CryptoGPT’s Native Token
According to CoinMarketCap data, the native token of CryptoGPT, GPT, which was issued at the beginning of March, currently has a market cap of just over $12 million. This sum is altogether not exactly other prominent computer-based intelligence-centered digital currencies like Fetch.ai’s FET and SingularityNET’s AGIX.
The $10 million investment in CryptoGPT demonstrates the growing demand for secure data transfer solutions and the growing significance of AI-focused blockchain technology. It will be fascinating to observe how the market for cryptocurrencies with an AI focus develops in the coming years as the company continues to develop its technology and expand its global presence.
The commitment of CryptoGPT to providing cutting-edge AI-crypto solutions is demonstrated by the company’s innovations, such as the “Alex” AI assistant, and their focus on data privacy through ZK technology. CryptoGPT has the potential to become a major player in the industry if it continues to investigate new growth opportunities and addresses the difficulties brought on by market volatility and skepticism.