CryptoGPT Secures $10M in Series-A Round Led By DWF Labs

The secured funds will improve the developers’ team and help them expand in the Asian market.
CryptoGPT will allow bunching up data, like preferences and behavior.

CryptoGPT, an AI-focused blockchain platform, secured funding of $10 Million at a total valuation of $250 Million. DWF Labs, a multi-stage Web3 investment firm, led the funding round.

According to CryptoGPT, the funds secured in the Series- Funding round will be specifically used to improve its development team and expand its presence in the Asian market.

Simply CryptoGPT can be termed as an AI-backed way for users to earn on the data they generate. The user of CryptoGPT will be allowed to authorize the AI blockchain platform to bunch up their data, like preferences and behavior, when using these applications. After the user’s permission, the data will be sold to giant corporate leaders to train their AI models using this data in the larger marketplace.

For sharing their data, the users can earn an appreciable amount paid by the corporate leaders purchasing it. CryptoGPT majorly uses zero-knowledge-proof technology for transferring data between users and corporate companies.

CryptoGPT recently launched its new chatbot named ‘Alex,’ which bears no resemblance to ChatGPT’s chatbot ‘namesake.’ After the launch of ChatGPT, the trend of Artificial Intelligence has sparked, and AI-based application mirrors a spike in its global adoption.

Most users believed that the introduction of Artificial Intelligence would boost crypto adoption on a global level. Since the beginning of 2023, major AI-focused cryptocurrencies, including Fetch.ai and SingularityNET(AGIX), have shown positive upward movements in a few weeks.

According to CoinMarketCap, Fetch.ai is ranked 125th, and SingularityNET is ranked 88th as the best token in the crypto market. At the press time, the FET token was trading at $0.3603 with a 24-hours trading volume of $68,728,539. The coin’s trading volume increased by 100.15% in the last 24 hours; there is no relationship between the trading volume and the price of FET, indicating increasing bullish intent.

At the same time, AGIX token was trading at $0.411 with a 24-hour trading volume of $80,032,359. GPT is the native token CryptoGPT; at the press time, the token was trading at $0.07266 with a 24-hours trading volume of $10,432,377.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing