Digital Assets: CryptoGPT, A Startup Focused On AI Development Using Blockchain Technology, Nabs $10M

https://dailyalts.com/wp-content/uploads/2023/04/6410ee8b4e1f1ff67e89210a_01.1-p-800.jpg

CryptoGPT aims to enable users to monetize their data in various sectors including fitness, dating, gaming, and education, with the goal of allowing them to earn money.

CryptoGPT, a layer 2 blockchain that uses zero-knowledge (ZK) technology, has raised $10 million in funding through a Series A round. The funding, which was led by DWF Labs, a market maker known for its investments during bearish market conditions, garnered a valuation of $250 million for CryptoGPT.

The AI-focused blockchain platform recently launched an AI assistant called “Alex” and is developing a ZK rollup layer 2 blockchain platform and a data-to-AI engine for commercial applications. CryptoGPT uses ZK technology for private data transfers, rather than payments. The funding will be used to beef up the company’s development team and presence in Asian markets. (Blockchain Reporter)

CryptoGPT aims to enable users to monetize their data in various sectors and plans to release non-fungible tokens (NFTs) capable of storing activity data. There has been a recent surge in enthusiasm for AI-focused cryptocurrencies, partially due to the popularity of the chatbot ChatGPT. However, some doubt that these tokens would sustain in the long term, and believe the price increases are short-term speculation.

The GPT token created by CryptoGPT has a market capitalization of slightly over $12 million, according to CoinMarketCap. Other AI-focused cryptocurrencies with higher market capitalizations include Fetch.ai (FET) and SingularityNET (AGIX).

CryptoGPT was established in July 2022 and raised $3 million in a token round through a public sale through DAO Maker, according to Dejan Erja, the co-founder and CTO.

Related Story:  OpenAI Announces GPT-4

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/05/webimage-5e3ef5d0-aee9-4a3e-9d3e-c26109b53529.png
FinTech: Klarna’s All-In Efforts To Achieve Profitability Getting Traction
May 26, 2023     FinTech, News

Swedish fintech company Klarna achieved a significant improvement in its financial performance during the first quarter, as it halved its net loss compared to the same period last year. The…

https://dailyalts.com/wp-content/uploads/2023/05/ai-generated-g831120c83_640.jpg
Alternative Investments/AI: Euclidean Technologies Launches ETF For AI-Selected Value Stocks

Seattle-based investment advisor Euclidean Technologies Management has launched its first exchange-traded fund (ETF), the Euclidean Fundamental Value ETF (ECML US). The actively managed US equity fund utilizes artificial intelligence (AI)…

https://dailyalts.com/wp-content/uploads/2023/05/aditya-siva-6rDbvXzIVpQ-unsplash.jpg
Venture Capital: Matrix Partners Raises $550M For Its Fourth India Fund
May 26, 2023     News, Venture Capital

Matrix Partners India, a venture capital firm focused on investments in India, has announced the closure of its latest fund, securing over $550 million in commitments. This new fund from…

https://dailyalts.com/wp-content/uploads/2023/05/52747633301_b52ecbc442_c.jpg
Artificial Intelligence: AI Helps Researchers Find A Compound To Kill The Drug-Resistant A. baumannii Bacterium

Scientists at MIT and McMaster University have used artificial intelligence (AI) to identify a new antibiotic that can combat drug-resistant infections caused by Acinetobacter baumannii. The bacterium is commonly found…