What is CryptoGPT (GPT)? - Bitfinex blog
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10 Mar What is CryptoGPT (GPT)?

Posted at 12:18h in Education by

As more and more breakthrough technologies get adopted in daily life, the lines between technology sectors can begin to blur. Enter CryptoGPT, a ZK Layer two blockchain for Artificial Intelligence. CryptoGPT lets users monetise every aspect of their daily lives by making their data available to the AI data set training industry.

In our new age of incredible Artificial Intelligence (AI) powered apps that are so advanced they seem almost like magic, CryptoGPT is decentralising the big data market for AI model training sets. Apps like Midjourney, Stable Diffusion, and ChatGPT have reached an amazing new watermark for human-like replication via AI-generated art, written text, and even code. 

There’s only one catch; these sophisticated AI models need to be trained on huge data sets consisting of millions or even billions of data points. In the current model, tech giants like Google and Facebook harvest user data and sell it, reaping billions of dollars, while the user experiences no benefit. 

CryptoGPT is an Ethereum-based ZK Layer two blockchain, which makes it possible for users to take back control of their data and monetise it themselves. By using ZK Rollups, a Layer two scaling technology which takes advantage of zero-knowledge proofs, CryptoGPT can record, encrypt, and anonymise user data as a product via its Data to AI engine, which is then released and sold in CryptoGPT’s Global Data Marketplace.

CryptoGPT

CryptoGPT is disrupting the current data market for AI by giving users the power to monetise their own data via “to earn” incentives by offering them an ecosystem of integrated apps across a range of popular industries like lifestyle, music, gaming, dating, travel & others, where they can opt in to data monetisation. 

Across the app ecosystem, CryptoGPT already has over two million users already onboarded. This established user base provides a solid foundation for potential virality and mass adoption as the general public adopts AI more and more in daily life.

CryptoGPT’s goal is to provide a strong foundation of revenue backing the project’s “to earn” incentive model of payouts to users in exchange for their high-quality, advanced AI model training data, which ends up in the Global Data Marketplace.

How CryptoGPT Works

CryptoGPT has three main points to its inter-ecosystem incentive model. First of all, Apps are encouraged to onboard with the opportunity to create new revenue by monetising opt-in user data. Second, users themselves are incentivised to onboard because they can participate in CryptoGPT’s “AI to earn”, which pays them for using the same popular mobile apps they always use, after they’ve opted in to allowing their data to be collected.

With Apps and users onboarded to provide the high-quality data needed by AI model training in exchange for monetisation, CryptoGPT’s ZK Rollups store it on-chain, where it is leveraged by CryptoGPT’s Data to AI engine, which encrypts and anonymises the data, the data is then processed and packaged for sale, before it makes its way to the Global Data Marketplace, where it can be purchased by a wide range of AI technology providers.

This high-quality data is prized by data purchasers across a range of industries, such as healthcare, insurance, finance, advertising, education, etc. All of which are looking at ways to improve efficiency and automation by employing emerging AI technologies. 

Why is CryptoGPT Unique

CryptoGPT is an Ethereum Layer two blockchain employing ZK Rollups, which have a high degree of scalability, full EVM compatibility, and unique properties which make it open to massive codebase libraries needed for AI, and make it easy to onboard apps, developers and users.

Due to CryptoGPT’s ZK Rollups, the chain is highly scalable, has immense throughput, and extremely cheap transaction fees. CryptoGPT’s ecosystem consisting of NFT Data Capsules, earn launcher, and AI tooling, offer a suitable blockchain environment that grows along with the AI industry’s rapidly changing capabilities and economy.

Additionally, CryptoGPT is designed to be truly decentralised and leverages Proof of Activity, a security model which increases as the network’s adoption increases. CryptoGPT’s decentralised data collection, and Global Data Marketplace, are also designed in a way that makes it difficult for top-down control from any single entity or participant in the ecosystem.

What is the CryptoGPT Ecosystem

The CryptoGPT ecosystem consists of several different components integrated to capture data, encrypt it, make it anonymous, and then package it to resell to data purchasers on the Global Data Marketplace.  

CryptoGPT Layer two chain

As an Ethereum Layer Two chain, CryptoGPT utilises ZK Rollups to store data and record on-chain transactions. Data will be the asset that powers the AI revolution, and CryptoGPT’s chain will be the tool they use to source high-quality data for AI model training.

Data to the AI engine

CryptoGPT’s Data to AI engine takes the data stored in ZK Rollups on-chain and encrypts, anonymises, processes, and packages the data to make it available to commercial applications via the Global Data Marketplace.

Global Data Marketplace

A Web3 native marketplace where apps and developers can monetise data that can be sold to purchasers from across industries, like healthcare, insurance, finance, advertising, education, and more. The Global Data Marketplace could potentially disrupt the global data trade and put users back in control of their data.

Core Applications

CryptoGPT’s Foundation has developed several core apps which play the role of jumpstarting the ecosystem and also provide revenue streams for GPT token holders in various capacities for the GPT utility token.

CryptoGPT Launcher

This is CryptoGPT’s pluggable “AI to earn” launcher, which any user can instantly start using to capture their data within any of CryptoGPT’s Core Applications to begin monetising their daily app usage data.

What is the CryptoGPT (GPT) Token

The GPT token can be described as a “multi-value gas token”. Its primary utilities are for gas to power network transactions, as well as staking in validator nodes. GPT token holders can earn revenue from several income “funnels” built in. GPT holders can enjoy fee income generated by core apps, staking, and participate in governance which determines how the fees in the Treasury fund are distributed.

Within the CryptoGPT ecosystem, there are several ways income is generated, via the income funnels: 

Gas Fees

Gas fees are generated from all transactions on-chain. Since CryptoGPT is a highly scalable, high throughput network which plans to onboard billions, gas is intended to be a significant source of income.

Core Apps

Core Applications in CryptoGPT also create income for participants as they have been created by the Foundation to get the data ecosystem economy underway. Core Apps have been designed to “serve as a pillar for ecosystem income”.

Global Data Marketplace

CryptoGPT’s Global Data Marketplace is central for income generation, and provides the sustainable foundation for the project’s “AI to earn” model. Income is generated by data sales on the marketplace, which is a platform for developers and companies to offer consented data to purchasers.

NFT Data Capsules

Data Capsules are in-ecosystem NFTs which contain the unique data imprint of its data miner. They are sold to data purchasers directly or acquired by developers and apps, and companies and distributed to interested parties.

These income sources contribute to the funds that are contained within the ecosystem’s Treasury fund. GPT token holders can participate in governance to decide how the Treasury’s funds are deployed within the ecosystem.

Treasury funds can be deployed in a variety of ways, including voting on increased staking yields, token burns and buybacks, community led venture investments which deploy capital to related projects the community decides to fund.

Aside from governance and revenue, GPT token holders can also realise additional ecosystem benefits like discounts, guaranteed liquidity, and staking rewards for validating transactions.

CryptoGPT Tokenomics

CryptoGPT Roadmap

Q1 2023

  • AI Capsule NFT Launch
  • First Apps Integrate CryptoGPT on Testnet
  • App Launcher release
  • Apps build on CryptoGPT ZK Rollup layer two for first 1 million users

Q2 2023

  • CryptoGPT closed mainnet
  • CryptoGPT Data Capture VPN partnership
  • Apps build on CryptoGPT ZK Rollup layer two for the first 5 million users

Q3 2023

  • Data Marketplace beta release
  • CryptoGPT ZK Rollup layer two mainnet beta tests
  • Apps build on CryptoGPT ZK Rollup layer two for the first 10 million users

Q4 2023

  • CryptoGPT ZK Rollup layer two mainnet beta release
  • Physical AI data capsule NFT release
  • Apps build on CryptoGPT ZK Rollup layer two for the first 20 million users

CryptoGPT Team

CryptoGPT has a small but dedicated and experienced team with prior experience in AI, Crypto, and e-commerce. More information about the CryptoGPT team can be found here.

How to buy GPT on Bitfinex

How to buy GPT with crypto

1. Log in to your Bitfinex account or sign up to create one.

2. Go to the Deposit page.

3. In the Cryptocurrencies section, choose the crypto you plan to buy PYTH with and generate a deposit address on the Exchange wallet.

4. Send the crypto to the generated deposit address.

5. Once the funds arrive in your wallet, you can trade them for PYTH. Learn how to trade on Bitfinex here.

How to buy GPT with fiat

1. Log in to your Bitfinex account or sign up to create one.

2. You need to get full verification to be able to deposit fiat to your Bitfinex account. Learn about different verification levels here.

3. On the Deposit page, under the Bank Wire menu, choose the fiat currency of your deposit. There’s a minimum amount for fiat deposits on Bitfinex; learn more here.

4. Check your Bitfinex registered email for the wire details.

5. Send the funds.

6. Once the funds arrive in your wallet, you can use them to buy GPT.

[AppStore]  [Google Play]

GPT Community Channels

Website | Twitter | Telegram | Discord

Buy GPT here


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