AI-Focused Blockchain CryptoGPT Raises $10M To Reach A $250M Valuation

Twitter icon  •  Published il y a 11 mois  •  Hassan Maishera

AI-focused blockchain project CryptoGPT has raised $10 million in a Series A funding round to reach a $250 million valuation.

TL;DR

  • CryptoGPT has raised $10 million in a recent funding round to reach a $250 million valuation.

  • The AI-focused blockchain project recently launched an AI assistant, "Alex," and is developing its ZK rollup layer 2 blockchain and a data-to-AI engine.

CryptoGPT Reaches A $250 Million Valuation

Zero-knowledge (ZK) layer 2 blockchain CryptoGPT has reached a $250 million validation after raising $10 million in a recent funding round. The company revealed that the Series A funding round was led by market maker DWF Labs. 

This latest development comes after CryptoGPT recently rolled out a Web3-focused AI assistant "Alex," while it is also developing its ZK rollup layer 2 blockchain and a data-to-AI engine. The data-to-AI engine will collect, encrypt, and transfer data for commercial applications. 

While commenting on this latest development, Dejan Erja, co-founder and CTO of the AI-focused blockchain, said;

"Instead of applying ZK technology to payments, CryptoGPT integrates it for private data transfers." 

CryptoGPT will use the funds to grow its developer team globally and build on its regional presence in the Asian markets. 

The project aims to empower users to earn money by monetizing their data in various niches, including fitness, dating, gaming and education. CryptoGPT also plans to launch NFTs that store the owner's activity data.

AI-focused cryptocurrencies have gained traction in recent months, thanks to the success recorded by the ChatGPT chatbot. Despite their recent successes, some investors are still not convinced about the long-term potential of AI-focused tokens as they consider them to be a short-term price pump by opportunistic traders leveraging the hype.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.