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Zero-knowledge (ZK) layer 2 blockchain CryptoGPT has secured $10 million in funding by means of a Sequence A spherical, led by market maker DWF Labs. The funding has enabled CryptoGPT to have a $250 million valuation, as per an announcement launched.
CryptoGPT Secures $10 Million in Funding and Plans to Increase
Dejan Erja, co-founder and CTO of CryptoGPT has said that the funding shall be used to increase the developer crew globally and improve the corporate’s regional presence in Asian markets. CryptoGPT goals to monetize person knowledge throughout varied sectors, comparable to health, courting, gaming, and schooling. Moreover, the corporate intends to roll out non-fungible tokens (NFTs) that retailer the proprietor’s exercise knowledge.
The success of chatbot ChatGPT has positively impacted the AI-focused cryptocurrency market. Consequently, such cryptocurrencies have seen important success because the begin of the 12 months. Nonetheless, some analysts stay skeptical concerning the long-term sustainability of such tokens. They consider that the short-term value pumps are the results of opportunistic merchants capitalizing on the hype.
$GPT Token and Its Place within the AI-focused Cryptocurrency Market
The crew launched the CryptoGPT’s native token, $GPT, in March of this 12 months. It at present boasts a market capitalization of simply over $12 million. In accordance with CoinGecko knowledge, Fetch.ai’s FET and SingularityNET’s AGIX are among the many different AI-focused cryptocurrencies with larger market capitalizations. One other AI-based challenge, ChainGPT ($CGPT), additionally carried out a really profitable token sale by capitalizing on the AI development.
CryptoGPT claims that its ZK rollup layer 2 blockchain is extra scalable than Ethereum’s mainnet, with higher-speed transaction throughput, decrease fuel charges, and good contract help. Moreover, the corporate’s data-to-AI engine encrypts knowledge on the level of origin, which CryptoGPT believes improves knowledge safety in the course of the switch course of.
CryptoGPT’s Plans for NFTs
CryptoGPT integrates ZK expertise for personal knowledge transfers as an alternative of funds, as said within the announcement. The blockchain firm believes that its broad goal is to permit customers to earn cash by monetizing their knowledge throughout a number of sectors. The NFTs will retailer the proprietor’s exercise knowledge.
The corporate additionally plans to roll out NFTs that retailer an proprietor’s exercise knowledge. The success of AI-focused cryptocurrencies because the begin of the 12 months is simple. Nonetheless, some analysts stay skeptical concerning the long-term sustainability of such tokens, as they view the latest value pumps as short-term.
All funding/monetary opinions expressed by NFTevening.com will not be suggestions.
This text is instructional materials.
As all the time, make your individual analysis prior to creating any form of funding.
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