Crypto Token Merger of $7B Leads to More Crypto AI Alliances

Crypto token merger worth up to $7.5 Billion is now boosting numerous exciting alliances in the world of Cryptocurrencies and AI.

ChainGPT, in collaboration with KuCoin and Gate.io, will conduct the initial dex offering (IDO) of its launchpad project, Wisdomise AI, on May 13.

A crypto adviser and investment assistant propelled by artificial intelligence, Wisedomise assists users in learning, predicting, and executing digital asset trades. Ilan Rakhmanov, CEO and Founder of ChainGPT, stated that the application enables users to participate in digital asset marketplaces utilizing “advanced AI algorithms.” 

Presently, Wisedomise is striving to secure an IDO at a fully diluted valuation of $20 million. Currently, ChainGPT, which employs language learning models (LLM) to construct news aggregators and chatbots propelled by artificial intelligence, is assessed at $236 million on the strength of its native token. 

Similarly, the web3 base layer KIP Protocol and GPU cloud infrastructure provider Aethir announced a partnership on May 3 to accelerate the development of artificial intelligence on both networks. KIP would implement its KnowledgeFi monetization system and decentralized retrieval augmented generation (dRAG) framework, which AI models employ to dynamically acquire information in response to user inputs on behalf of Aethir via the collaboration.

Similarly, Aethir will grant KIP Protocol access to its fleet of 40,000 GPUs and 3,000 NVIDIA H100s to generate AI prompts. Julian Peh, co-founder and chief executive officer of KIP Protocol, stated that the two protocols’ utilization of Aethir’s computing resources to enable the firm’s AI asset deployment and monetization tools is consistent. 

SingularityNet, Fetch.ai, and Ocean Protocol, the three most prominent players in the crypto AI industry, approved a $7.5 billion token merger last month, forming the Artificial Superintelligence Alliance (ASI) initiative. At this time, the ASI is investigating three discrete product pipelines:

• The implementation of AI agents in commercial environments
• The development of neural symbolic language learning models (LLMs)
• The sharing and utilization of AI data

Cointelegraph was informed in a statement by Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, “We expect to generate revenue shortly as we deploy the agentic network.” “Our immediate objective is to implement many commercial products that infuse AI applications with vitality.”

Scammers have begun to exploit unwary users enticed by the crypto AI mania, notwithstanding the initial enthusiasm. 

According to a report by CertiK, a blockchain security firm, the Genius Crypto Token GNUS.ai was compromised for $1.27 million on May 5. An attacker allegedly created a false GNU token on the Fantom blockchain and copied the code from GNUS.ai’s Ethereum Chain, thereby converting the fake GNU tokens to authentic GNUS.ai tokens on Fantom after exploiting the developers’ private wallet on Discord. The assailant then transferred GNUS.ai tokens worth $500,000 from Fantom to Ethereum via a bridge and sold them for $1.27 million.