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More Crypto AI Alliances Emerge Following $7.5 Billion Token Merger — TradingView News
On May 13, blockchain AI platform ChainGPT will hold the initial dex (IDO) offering of its launchpad project, Wisdomise AI, in collaboration 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 Rakhmanov, CEO and founder of ChainGPT, said the tool allows users to use “advanced artificial intelligence algorithms” to engage in digital asset markets.
Wisedomise is currently targeting an IDO with a fully diluted valuation of $20 million. Meanwhile, ChainGPT uses language learning models (LLMs) to create AI-powered chatbots and news aggregators and is currently valued at $236 million, based on its native token.
Likewise, on May 3, web3 base layer protocol KIP said it will partner with GPU cloud infrastructure provider Aethir to accelerate AI development on both networks. Through the collaboration, KIP will deploy to Aethir its KnowledgeFi monetization system and decentralized retrieval augmented generation (dRAG) framework, used by AI models to dynamically collect information following user requests.
Likewise, Aethir will allow the KIP protocol to access its fleet of 40,000 GPUs and 3,000 NVIDIA H100s to generate AI prompts. Julian Peh, co-founder and CEO of KIP Protocol, said the two protocols are aligned on the company’s use of Aethir’s computing assets to power its AI asset deployment and monetization tools.
Last month, the three largest players in the crypto AI space, SingularityNet, Fetch.ai, and Ocean Protocol, approved a $7.5 billion token merger, creating the Artificial Superintelligence Alliance (ASI) project. ASI is currently looking at three distinct product pipelines: deploying AI agents in commercial settings, neural symbolic language learning (LLM) models, and sharing and leveraging AI data.
“In the near term, we expect to generate revenue by launching the agent network for deployment,” Humayun Sheikh, president of the Artificial Superintelligence Alliance and CEO of Fetch.ai, told Cointelegraph. “In the near term, we will focus on implementing several commercial products that bring AI applications to life.”
Despite the hype, scammers have also started taking advantage of unsuspecting users drawn into the crypto AI frenzy.
On May 5, blockchain security firm CertiK reported that the Genius Crypto token GNUS.ai was leveraged 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 code from GNUS.ai’s Ethereum chain, thus converting the fake GNU tokens into genuine GNUS.ai tokens on Phantom. Subsequently, the attacker transferred 500,000 illegally minted GNUS.ai tokens worth from Fantom to Ethereum and sold them for $1.27 million.
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