CryptoGPT is an Ethereum-based layer 2 blockchain dedicated to the development of Artificial Intelligence (AI) and the decentralization of the AI and data market. And just today, Bitfinex announced that it will be the first exchange to list $GPT, the native CryptoGPT token.
Crypto trading is undergoing a major evolution right now, as new ideas and major technological advances are transforming the way people make money from their digital assets.
ChatGPT is one innovation currently generating a lot of buzz for how it is enhancing efficiency, speed, and accuracy within the crypto trading world. And if you don’t already know, ChatGPT is a generative AI language program that uses machine learning capabilities to learn from the data it receives. It then generates original human-like solutions and suggestions in response to prompts.
Within the trading stadium, a ChatGPT-powered bot can provide expert support. We’re talking about guidance relating to strategy creation, price updates, portfolio management, and prompt market analysis.
Eventually, it will be trained on market price and volume data, economic news, and online purchase statistics. Learning as it goes, it can predict market activity, with ever-growing accuracy.
$GPT: The CryptoGPT Token
CryptoGPT calls itself a cryptographic ecosystem driven by data collection for the purpose of Artificial Intelligence development.
CryptoGPT Recognizes the growing value of data which is crucial to further develop artificial intelligence. In turn, it aims to offer customers the opportunity to earn cryptocurrencies by sharing their anonymous data using zero-knowledge crypto technology.
The point? To preserve user anonymity while acquiring necessary data to be used in building AI models in manufacturing, education, and more.
The plan is that the dApps will be built on the CryptoGPT ecosystem. And CryptoGPT will offer its GPT tokens as payment for the data it receives from users when they use these dApps.
GPT is a multipurpose token that users can utilize as “fuel” for transactions that occur on CryptoGPT’s blockchain. They can also use it for liquidity events such as buybacks or burns.
CryptoGPT x #Bybit Give Away ( GPT )
First 3333 retweets and comment #LFG????
— CryotoGPT (@cryptoGPT_net) March 9, 2023
On another note, OpenAI plans to implement a DAO with a very strong economic model for sustainable growth. With the DAO, $GPT Token stakers will have several advantages in controlling treasury funds.
For example, $GPT token stakers will be able to vote to use treasury funds to buy back $GPT from the open market. Also, they will be able to vote to burn the repurchase tokens.
CryptoGPT’s founding team aims to enter various sectors with its model, namely medicine, tourism, biotechnology, advertising, logistics, finance, and manufacturing.
ChatGPT, also from OpenAI, is the first technology to successfully merge Blockchain and AI. Which users look forward to testing a much larger data and AI market with a wealth of more than $1 trillion to date.
Bitfinex has opened deposits for GPT on 9 March. And GPT trading will be available on 10 March, trading with US dollars (USD) and Tether tokens (USDt).