On May 11, BlockGPT, a brand-new Web3 firm, announced the launch of its blockchain ecosystem and artificial intelligence (AI) service named “chat to earn.” Similar to OpenAI’s ChatGPT, BlockGPT aims to create a decentralized chatbot on the blockchain that is controlled by tokens.
Two tokens—AIBGPT, a meme token, and BGPT, a governance token—are released at the same time as the AI model. According to reports, both currencies were created on PancakeSwap, a decentralized exchange that makes it easy to trade BEP-20 tokens.
BlockGPT has a “chat to earn” feature as an added bonus! Users who participate in chat sessions with the AI model are rewarded with nonfungible tokens (NFTs) and other tokens.
According to a white paper available on the BlockGPT website, the company is utilizing over six generative pre-trained transformers (GPT) models on its platform. The models were trained using a proprietary dataset, which unfortunately, the paper does not disclose the size or number of parameters used during the training. However, the paper does state that the AI was specifically designed to handle blockchain-related queries.
The BlockGPT model and its crucial AI Inference Engine are available to developers as a means of enabling on-chain AI inference, the paper said. In addition, the paper describes how the Synapse engine is used to offer a solid framework for developing DApps and smart contracts that make use of AI technology.
The introduction of BlockGPT occurs in the midst of a rush of activity in both the token and AI areas. Memecoins like Dogecoin and Pepe (PEPE) have lately made headlines, and for months the technology news has been dominated by the fight between OpenAI’s ChatGPT, Google’s Bard, and a myriad of other chatbot solutions.
