Hype around crypto and artificial intelligence is merging in a new crypto token called CryptoGPT (GPT-USD).
Seven crypto exchanges have agreed to begin trading the CryptoGPT token on March 10. CryptoGPT claims it will have 2 million end users at its launch and over 100 developers.
$GPT powers the fastest growing zk Layer-2 blockchain for the AI Age – CryptoGPT$GPT Trading Opens on Friday 11 AM UTC:
Details 👇 pic.twitter.com/uCmPgzEwzT
— CryptoGPT (@CryptoGPT_org) March 9, 2023
CryptoGPT Emerges From AI Craze
Bitfinex is among the exchanges that will host trading in the token. The idea is that users could share CryptoGPT apps, then data on their dating, fitness and daily life could then be monetized by AI systems. License fees would flow back to the users through the token.
Machine learning has been around for years, in applications ranging from spam filters to autocomplete. But its introduction as a text generator with backing from Microsoft (NASDAQ:MSFT), using technology from OpenAI, created the first big hype cycle of 2023.
One of the biggest problems with artificial intelligence chatbots like ChatGPT is their use of unvetted data from the internet. This “garbage in, garbage out” approach can make the output useless.
There are also concerns about permission to use data. News organizations are already suing over the use of their stories to train OpenAI and other lawsuits are being prepared.
If lawyers are making money on artificial intelligence, why not you?
CryptoGPT claims to solve the legal problem, charging for permission to use data, then distributing the proceeds through the token. It is seeking users to sign up their friends, offering a percentage of the income each user generates. CryptoGPT discussions are being hosted on Telegram.
What Happens Next?
The speed with which hype cycles move is constantly accelerating. In just a few months, the hype around ChatGPT has gone from Microsoft to Elon Musk to crypto. Where this cycle goes from here remains to be seen.
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Read More: How to Avoid Popular Cryptocurrency Scams
On the date of publication, Dana Blankenhorn held a long position in MSFT. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.