On May 11, BlockGPT, a newly established Web3 company, made an announcement about the launch of its ‘chat to earn’ artificial intelligence (AI) service and the accompanying blockchain ecosystem. The company’s objective is to create a decentralized chatbot governed by tokens on the blockchain, akin to OpenAI’s ChatGPT.
Alongside the AI model release, BlockGPT is introducing two tokens, BGPT as the governance token and AIBGPT as the meme token. These tokens are built on PancakeSwap, a decentralized exchange catering to BEP-20 tokens.
BlockGPT is also introducing a “chat to earn” reward system, enabling users to earn nonfungible tokens (NFTs) and token prizes for engaging in chat sessions with the AI model.
While the company’s website features a white paper, it lacks specific technical details such as the corpus size or model parameters. However, the paper highlights that BlockGPT was specially trained using a vast dataset of blockchain-related information, allowing it to comprehend and answer a wide range of blockchain-related queries.
Furthermore, the BlockGPT model offers developers the ability to enable on-chain AI inference through its AI Inference Engine. It leverages the Synapse engine to provide a reliable framework for building decentralized applications (DApps) and smart contracts that integrate AI technology.
BlockGPT’s launch occurs amidst significant activity in the AI and token realms. Notably, meme coins like Dogecoin and Pepe have gained attention recently, while competition among AI chatbot offerings, including OpenAI’s ChatGPT and Google’s Bard, continues to dominate technology news.