With the present enhance in curiosity in synthetic intelligence (AI), Blockchain with zero-knowledge (ZK) layer 2 CryptoGPT has raised $10 million in funding.
The market maker DWF Labs, who has emerged as some of the lively buyers in the course of the cryptocurrency bear market, led the Series A spherical, which gave the AI-focused blockchain a $250 million valuation, per a launch.
In addition to constructing its ZK rollup layer 2 blockchain and a data-to-AI engine, which gathers, encrypts, and transmits information for business purposes, CryptoGPT additionally launched “Alex,” an AI assistant focused for Web 3.
“Instead of making use of ZK expertise to funds, CryptoGPT integrates it for personal information transfers,” CryptoGPT mentioned within the assertion on Monday.
According to Dejan Erja, co-founder and chief expertise officer of the blockchain with an AI emphasis, the funds from the brand new capital will probably be used to broaden the corporate’s developer workers internationally and strengthen its regional footprint within the Asian markets.
The predominant objective of CryptoGPT is to offer customers the flexibility to make cash by monetizing their information within the health, courting, gaming, and academic sectors. Moreover, it intends to launch non-fungible tokens (NFT) that maintain details about an proprietor’s exercise.
Because of the widespread recognition of the chatbot ChatGPT, curiosity in cryptocurrencies with an AI emphasis has exploded because the 12 months’s starting.
Yet, there’s important doubt in regards to the long-term sustainability of such tokens, with opinions that the substantial will increase they’ve seen just lately are nothing greater than a short-term worth increase by shrewd merchants driving the hype.
According to info supplied by CoinMarketCap, the market worth of CryptoGPT’s native token GPT, which was launched in early March of this 12 months, is now barely over $12 million.
According to CoinGecko statistics, among the different AI-focused cryptos with larger market caps embody Fetch.ai’s FET and SingularityNET’s AGIX.