May 23, 2024
ChainGPT Sparks Crypto AI Alliances post $7.5B Merger
AI

ChainGPT Sparks Crypto AI Alliances post $7.5B Merger

Blockchain AI platform ChainGPT is set to conduct the initial dex offering (IDO) for its launchpad project, Wisdomise AI, in collaboration with KuCoin and Gate.io on May 13. Wisdomise AI serves as an AI-powered crypto adviser and investment assistant, enabling users to learn, predict, and execute digital asset trades. Ilan Rakhmanov, CEO and Founder of ChainGPT highlighted the platform’s utilization of “advanced AI algorithms” for navigating digital asset marketplaces. Wisdomise AI targets an IDO with a fully diluted valuation of $20 million, while ChainGPT itself, specializing in language learning models (LLM), is valued at $236 million based on its native token.

Source: ChainGPT

Partnership Between KIP Protocol and Aethir for Accelerating AI Development

On May 3, KIP Protocol, a web3 base layer, announced its partnership with GPU cloud infrastructure provider Aethir to expedite AI development on both networks. Through this collaboration, KIP Protocol plans to deploy its KnowledgeFi monetization system and decentralized retrieval augmented generation (dRAG) framework to Aethir’s platform. In return, Aethir will grant KIP Protocol access to its extensive fleet of GPUs and NVIDIA H100s for generating AI prompts. Julian Peh, co-founder and CEO of KIP Protocol, emphasized the alignment between the two protocols in utilizing Aethir’s computing resources to power AI asset deployment and monetization tools.

Creation of the Artificial Superintelligence Alliance (ASI)

SingularityNet, Fetch.ai, and Ocean Protocol, three prominent players in the crypto AI industry, have approved a $7.5 billion token merger, leading to the formation of the Artificial Superintelligence Alliance (ASI) project. The ASI project is currently focused on three main product pipelines: deploying AI agents in commercial settings, developing neural symbolic language learning models (LLMs), and facilitating AI data sharing and utilization. Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, anticipates generating revenue through the launch of the agentic network for deployment and deploying various commercial products to enhance AI applications in the short term.

Scammers Exploit Crypto AI Enthusiasm

Despite the promising developments in the crypto AI sector, scammers have seized the opportunity to exploit unsuspecting users. On May 5, CertiK, a blockchain security firm, reported an exploit involving the Genius Crypto Token GNUS.ai, resulting in a loss of $1.27 million. The attacker exploited developers’ private wallets on Discord and created a fake GNU token on the Fantom blockchain, mimicking GNUS.ai’s Ethereum Chain code. This enabled the attacker to convert fake GNU tokens to genuine GNUS.ai tokens on Fantom, subsequently bridging and selling illicitly minted GNUS.ai tokens for $1.27 million.

Image by Brian Penny from Pixabay

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