Fun

AI-Focused Cryptogpt Raises $10 Million in Series A Funding to Expand Into Asian Markets

News Feed - 2023-04-11 08:04:29

AI-Focused Cryptogpt Raises $10 Million in Series A Funding to Expand Into Asian Markets


A Layer two (L2) project, called Cryptogpt, which leverages ZK-rollup technology and artificial intelligence (AI), has announced that its team has raised $10 million in capital from a Series A funding round. The crypto and AI firm disclosed that the new funds would be used to expand into the largest Asian markets, and the company now has a valuation of $250 million. Cryptogpt Startup Raises $10 Million; Startup Now Has a $250 Million Post-Valuation


Artificial intelligence (AI) has become a popular subject in 2023 as AI projects, such as Midjourney and Chatgpt, along with many other programs, have seen a surge in demand. This has sparked a significant rise in value for a number of AI-related cryptocurrency and blockchain projects this year. According to statistics from cryptoslate.com, at the time of writing, 77 AI-focused cryptocurrencies are worth $3.48 billion. Cryptogpt’s GPT market metrics according to cryptoslate.com on April 10, 2023.


On April 10, an L2 project called Cryptogpt announced that it raised $10 million in a Series A financing round. “Cryptogpt receives $10M strategic investment from largest Asian market maker to expand into biggest Asian markets,” the Cryptogpt Twitter account told its 243,200 social media followers. “New funding at a $250M valuation from DWF Labs positions $GPT both financially and strategically with the most established layer-2 developments in Web3,” the company added. Last month, Cryptogpt released a chatbot called “Alex.”


Cryptogpt’s L2 network uses a native token called GPT, and the team asserts that GPT is a multi-value gas token that has high demand as fuel for network transactions. Over the past 30 days, GPT has gained 41.64%, with 14.79% of the increase recorded during the past 24 hours. Statistics show there is a circulating supply of three billion GPT, and the ERC20 version of GPT has 3,557 holders. Ten of the top GPT holders command 82.95% of the circulating supply. On April 10, Cryptogpt’s native token was trading for prices between $0.0672 to $0.0751 per unit.


The AI project also introduced a chatbot called “Alex” during the first week of March. “Cryptogpt releases 1st product: Alex, [a] key to infinite knowledge of the internet,” the team said at the time. “Today, we release our AI chatbot Alex — your companion in the Cryptogpt ecosystem that can answer any question [and] complete creative tasks.” Cryptogpt also detailed that Alex is “powered by Openai models,” the company behind the popular AI application Chatgpt. Tags in this story ai, AI Blockchain, ALEX, Artificial Intelligence, Asian Markets, Blockchain, blockchain ecosystem, Blockchain Industry, chatbot, circulating supply, crypto community, crypto market, crypto space, Cryptocurrency, Cryptogpt, decentralized finance, Digital Assets, Digital Currency, DWF Labs, ERC20, Financing, Funding, gas token, GPT, Innovation, investment, L2 Blockchain, L2 project, Layer 2 Blockchain, market maker, network transactions, Openai models, Series A Funding Round, Social Media, startup, technology, token economy, token holders, Twitter, valuation, Web3, ZK-rollup technology


What are your thoughts on the increasing intersection between artificial intelligence and cryptocurrency, and do you see this trend continuing to grow in the future? Share your thoughts about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Worldcoin Launches World ID, an AI Resistant, Iris Dependent ID Protocol BLOCKCHAIN | Apr 3, 2023 Bitcoin Halving Approaches: Less Than 400 Days Until Block Reward Subsidy Is Cut in Half BLOCKCHAIN | Mar 29, 2023


Image Credits: Shutterstock, Pixabay, Wiki Commons, Cryptogpt Previous articleSeasonal Tokens: Summer’s Price Rises After the Halving as Expected Next articleBitcoin, Ethereum Technical Analysis: BTC Hits $30,000 on Tuesday, as ETH Nears $2,000 Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand"


Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

Savannah Fortis10 hours agoAI can be a ‘creative amplifier’ — Grammy chief exec Harvey Mason Jr.Cointelegraph spoke with Harvey Mason Jr. in an exclusive interview about how the Recording Academy sees the integrati
Cryptocurrency Is Agorism in Action
Cryptocurrency Is Agorism in Action The book “New Libertarian Manifesto” (NLM) by libertarian-anarchist Samuel E. Konkin III (SEK3) launched a movement that has grown
Bitcoin analysts forecast BTC price drop to $50K before parabolic run begins
Nancy Lubale1 hour agoBitcoin analysts forecast BTC price drop to $50K before parabolic run beginsA handful of Bitcoin analysts now believe BTC price is headed below $50,000. Cointelegraph explores why.3061 Total views2
Law Enforcement in Russia’s Samara Region Investigates 8 Cases of Fraud Related to Finiko
Law Enforcement in Russia’s Samara Region Investigates 8 Cases of Fraud Related to Finiko The investigation into the Russia-based crypto pyramid Finiko is growing with law enforc
XRP Battle Between Bulls And Bears Hinges On $1.97 – What To Expect
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin charts suggest the ‘dominance train’ is coming, traders say
Ciaran Lyons2 hours agoBitcoin charts suggest the ‘dominance train’ is coming, traders sayThe current Bitcoin dominance chart resembles that of the “2018-2019 bear market,” crypto trader “Beanie” wrote on X.1
New Bybit User? Get up to $600 in Welcome Rewards
New Bybit User? Get up to $600 in Welcome Rewards sponsored New Bybit users can get up to $600 in welcome rewards upon completing simple tasks and hitting trading milestones after s
Kamala Harris chooses Minnesota Gov. Walz as US presidential running mate
Zoltan Vardai10 hours agoKamala Harris chooses Minnesota Gov. Walz as US presidential running mateMinnesota Governor Tim Walz has previously advocated for more stringent crypto regulations to ensure the stability of the
Tom Mitchelhill4 hours agoFriend.tech clone Stars Arena drives surge of activity on AvalancheThe price of AVAX has surged more than 8% amid heightened network activity brought about by Friend.tech look-alike Stars Arena.
Brayden Lindrea1 hour agoOpenAI debuts ChatGPT Enterprise — 4 times the power of consumer versionOpenAI also claims it is two times faster than GPT-4 with enhanced privacy and security standards.585 Total views2 Total
Joe Hall12 hours agoFrom rugs to riches: UK carpet retailer to adopt Bitcoin standardWith U.K. inflation running high and sluggish banking interest rates, small businesses are turning to novel solutions to save money.134
Privacy-Centric Messaging App Signal Experiments With Stellar-Based Mobilecoin Project
Privacy-Centric Messaging App Signal Experiments With Stellar-Based Mobilecoin Project One of the most popular privacy-centric messaging applications Signal has