AI-Focused Cryptogpt Raises $10 Million in Series A Funding to Expand Into Asian Markets

Cryptogpt, a Layer two (L2) project that makes use of artificial intelligence (AI) and ZK-rollup technology, has announced that its team has raised $10 million from a Series A funding round. The crypto and artificial intelligence company said that the new money would be used to expand into the biggest Asian markets. The company is now worth $250 million.

Man-made reasoning (man-made intelligence) has turned into a famous subject in 2023 as simulated intelligence projects, like Midjourney and Chatgpt, alongside numerous different projects, have seen a flood popular. Several AI-related cryptocurrency and blockchain projects have seen significant price increases as a result of this this year. At the time this article was written, 77 cryptocurrencies with an emphasis on AI were worth $3.48 billion, according to data from cryptoslate.com.

The L2 project Cryptogpt announced on April 10 that it had raised $10 million in a Series A financing round. The Cryptogpt Twitter account informed its 243,200 social media followers that the company had received a strategic investment of $10 million from the largest Asian market maker in order to expand into the largest Asian markets. $GPT now has $250 million in new funding from DWF Labs, which positions the company financially and strategically alongside the most well-established layer-2 developments in Web3.

The Cryptogpt team claims that the native GPT token used in the L2 network is a multi-value gas token that is in high demand as fuel for network transactions. Throughout the course of recent days, GPT has acquired 41.64%, with 14.79% of the increment recorded during the beyond 24 hours. According to statistics, 3,557 holders hold the ERC20 version of GPT, and there is a circulating supply of three billion GPT. Ten of the most powerful GPT holders control 82.95 percent of the available supply. On April 10, Cryptogpt's local token was exchanging at costs between $0.0672 to $0.0751 per unit.

During the first week of March, the AI project also introduced a chatbot with the name "Alex." The first product from Cryptogpt is out: The team said at the time, "Alex, a key to infinite internet knowledge." Alex, our AI chatbot that can answer any question and complete creative tasks, is now available for use in the Cryptogpt ecosystem. Additionally, Alex is "powered by Openai models," the company behind the well-known AI application Chatgpt, according to Cryptogpt.

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