AI-focused blockchain with zero-knowledge (ZK) layer 2 in order to secure $10 million in funding, CryptoGPT has taken advantage of the current hype in interest in artificial intelligence (AI).
AI-focused Blockchain CryptoGPT Raises $10 Million in Funding
According to a release, the Series A funding gave the AI-focused blockchain a $250 million value. The round was led by market maker DWF Lab, which has emerged as one of the most active investors during the cryptocurrency bear market.
Recently, the blockchain released Alex, an AI helper with an emphasis on Web 3. The platform is developing a data-to-AI engine that gathers, encrypts, and transports data for commercial applications, as well as a ZK rollup layer 2 blockchain.
About Funding
In a statement on Monday, the blockchain said that it integrates ZK technology for private data transfers rather than using it for payments. According to Dejan Erja, co-founder and chief technology officer of the blockchain with an AI focus, the new funding will be used to expand the company’s developer staff internationally and strengthen its regional footprint in the Asian markets.
AI-focused Cryptocurrencies
Since the beginning of the year, there has been a surge in interest in AI-focused cryptocurrencies as a result of ChatGPT’s widespread popularity. Yet, there is significant doubt about the long-term project viability of such tokens, with opinions that the substantial increases they have seen recently are little more than a short-term price boost by opportunistic traders riding the hype.
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