AI-driven Blockchain project CryptoGPT has made the crypto headlines with a big investment news. Artificial intelligence coin is rising in double digits with intense interest.
Giant investment of 10 billion dollars in artificial intelligence coin project
CryptoGPT recently launched an AI assistant “Alex” and is developing a data engine to ZK roll-up 2-Layer Blockchain and an AI that collects, encrypts and transfers data for commercial applications.
According to a new announcement, the project has reached a valuation of $250 million as a $10 million investment in a Series A funding round led by market maker DWF Labs, which emerged as one of the most active investors during the crypto bear market.
However, Dejan Erja, the co-founder and CTO of CryptoGPT, said that only $420,000 of the total amount has been invested so far by DWF Labs. Erja said that DWF Labs started investing last week and the remaining amount will be invested for 285 days:
DWF Labs follows the entitlement program outlined in our token economy. The investment will be made over a period of 285 days in line with the acquisition of these tokens.
Artificial intelligence coin rises in double digits
CryptoGPT (GPT) price is rising over 10% at the time of the announcement. The AI coin peaked at $0.0756 from an intraday low of $0.06681. At the time of writing, it was holding on to its earnings without seeing any major corrections.
CryptoGPT and DWF Labs collaboration
As part of the deal, DWF Labs, a Web3 investment firm that is also a market maker, will also launch the market for CryptoGPT’s GPT token. The GPT token was launched last month and its current fully diluted valuation stands at around $210 million, which is lower than what DWF has invested, according to data from CoinGecko.
CryptoGPT made headlines last month with the token launch and the rapid rise of AI bots like OpenAI’s ChatGPT. CryptoGPT claims to help users own and monetize their data through the Layer 2 Blockchain network under development.
Erja said, “Use our apps in fitness, dating, gaming and education. CryptoGPT captures and packages data. Own your data and earn money by selling it.” He added that CryptoGPT’s mainnet is expected to go live in the third quarter of this year.
According to Erja, with DWF’s investment, CryptoGPT aims to expand its developer team from 22 existing people and expand in Asia. CryptoGPT previously raised $3 million in a token round last month through a public sale via DAO Maker.
About DWF Labs
DWF Labs is a global digital asset market maker and multi-stage Web3 investment firm with offices in Singapore, Switzerland, British Virgin Islands, United Arab Emirates, South Korea and Hong Kong. cryptocoin.com You can take a look at the investments the company has made since last year on this page.
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