Cryptocurrencies

On May 13, blockchain AI platform, ChainGPT, will hold an initial dex offering (IDO) for the project

On May 13, blockchain AI platform, ChainGPT, will hold an initial dex offering (IDO) for its launchpad project, Wisdomise AI, jointly with KuCoin and Gate.io.

Wisedomise is an AI-powered crypto advisor and investment assistant that helps users learn, predict, and execute digital asset trades. Ilan Rakhmonov, CEO and founder of ChainGPT, said the tool allows users to use “advanced AI algorithms” to participate in digital asset markets.

Wisedomise is currently targeting an IDO at a fully diluted valuation of $20 million. Meanwhile, ChainGPT uses language learning models (LLM) to build AI-powered chatbots and news aggregators, and is currently valued at $236 million, based on its native code.

Likewise, on May 3, web3 core layer protocol KIP said it would collaborate with GPU cloud infrastructure provider Aethir to accelerate AI development on both networks. Through the collaboration, KIP will deploy the KnowledgeFi monetization system and the Decentralized Augmented Retrieval (dRAG) framework, which AI models use to dynamically collect information after user prompts, to Aethir.

Likewise, Aethir will allow KIP access to its fleet of 40,000 GPUs and 3,000 NVIDIA H100 units to generate AI claims. Julian Beh, co-founder and CEO of KIP, said the two protocols align with the company’s use of Aethir’s computing resources to power its AI asset deployment and monetization tools.

Last month, the three largest players in the crypto AI industry, SingularityNet, Fetch.ai, and Ocean Protocol, agreed to a $7.5 billion token merger, creating the Artificial Super Intelligence (ASI) Alliance project. ASI is currently examining three distinct product lines: deployment of AI agents in commercial environments, neuro-symbolic language learning models (LLMs), and AI data sharing and use.

“In the near term, we expect to generate revenue when we launch the deployment proxy network,” Humayun Shaikh, president of the AI ​​Superintelligence Alliance and CEO of Fetch.ai, told Cointelegraph in a statement. “In the short term, we will focus on deploying several commercial products that bring AI applications to life.”

Despite the hype, scammers have also started taking advantage of unsuspecting users attracted by the cryptocurrency AI craze.

On May 5, blockchain security firm CertiK reported that the Genius Crypto Token GNUS.ai had been exploited for $1.27 million. After exploiting developers’ private wallet on Discord, an attacker allegedly created a fake GNU token on the Fantom blockchain and copied the token from GNUS.ai’s Ethereum Chain, thus converting the fake GNU tokens into genuine GNUS.ai tokens on Fantom. The attacker then linked 500,000 worth of GNUS.ai tokens illegally minted from Fantom to Ethereum and Sold Theirs for $1.27 million.

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