More Cryptocurrency AI Alliances Emerge After $7.5 Billion Token Merger

Blockchain AI platform ChainGPT will host an initial DEX offering (IDO) for its launchpad project, Wisdomise AI, on May 13 along with KuCoin and Gate.io.

Wisedomise is an AI-powered cryptocurrency advisor and investment assistant that helps users learn, predict, and execute digital asset trading. Ilan Rakhmanov, CEO and founder of ChainGPT, said the tool will allow users to use “advanced AI algorithms” to participate in digital asset markets.

Wisedomise is currently targeting an IDO with a fully diluted valuation of $20 million. Meanwhile, ChainGPT uses language learning models (LLM) to build AI-powered chatbots and news aggregators and is currently valued at $236 million based on its native token.

Likewise, on May 3, the web3 base layer KIP protocol said it would collaborate with GPU cloud infrastructure provider Aethir to accelerate AI development on both networks. Through the collaboration, KIP will deploy the KnowledgeFi monetization system and the decentralized search augmentation generation (dRAG) framework, which AI models use to dynamically gather information after user prompts, to Aethir.

Likewise, Aethir allows the KIP protocol access to 40,000 GPUs and 3,000 NVIDIA H100s for AI prompt generation. Julian Peh, co-founder and CEO of KIP Protocol, said the two protocols are aligned when it comes to the company’s use of Aethir’s computing resources to power its AI asset distribution and monetization tools.

Last month, three major players in the cryptocurrency AI industry – SingularityNet, Fetch.ai and Ocean Protocol – approved a $7.5 billion token merger to create the Artificial Superintelligence Alliance (ASI) project. ASI is currently looking at three product pipelines: deploying AI agents in commercial environments, neural symbolic language learning models (LLMs), and sharing and leveraging AI data.

“We expect to be monetized in the near term as we launch our agent network for distribution,” Humayun Sheikh, president of the Artificial Superintelligence Alliance and CEO of Fetch, told Cointelegraph in a statement. “In the near term, we will be focused on deploying a number of commercial products that bring AI applications to life.”

Despite the hype, scammers have taken advantage of the cryptocurrency AI craze and are starting to take advantage of unsuspecting users.

On May 5, blockchain security firm CertiK reported that the Genius Crypto Token GNUS.ai was exploited for $1.27 million. The attackers reportedly created fake GNU tokens on the Fantom blockchain after exploiting the developer’s private wallet on Discord and copied code from GNUS.ai’s Ethereum Chain to convert the fake GNU tokens into genuine GNUS.ai tokens on Fantom. . The attacker then linked 500,000 illegally issued GNUS.ai tokens from Fantom to Ethereum. sold Purchased for $1.27 million.

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