AI-focused CryptoGPT raises $10 Million in Series A funding
A Layer two (L2) project, called CryptoGPT, which leverages ZK-rollup technology and artificial intelligence (AI), has announced that it has raised $10 million from a Series A funding round.
By Anna B Kiwanuka
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, at the time of writing, 77 AI-focused cryptocurrencies are worth $3.48 billion.
An L2 project called CryptoGPT recently announced that it raised $10 million in a Series A financing round.
Dejan Erja, Co-founder and Chief Technology Officer of the AI-focused blockchain commented saying that the proceeds of the new funding will be used to grow its developer team globally and build on the firm’s regional presence in the Asian markets.
CryptGPT’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. Alex is key to infinite knowledge of the internet and is powered by Openai models.