BlockGPT made an exciting entry into the artificial intelligence (AI) landscape on the 11th of May with their AI training platform. This was done with the launching of  the web3 company’s new “chat to earn” AI service and a blockchain ecosystem. Their primary objective is to establish a decentralized chatbot on the blockchain, governed by tokens, similar to OpenAI’s ChatGPT. 

To support their ecosystem, BlockGPT introduced two distinct tokens. One is a governance token named BGPT while the other is a meme token named AIB GPT.

The team built these tokens on PancakeSwap, a decentralized exchange that caters to the trading of BEP-20 tokens. The introduction of these tokens adds an additional layer of value and participation within the BlockGPT ecosystem.

One of their features that stood out is the “chat to earn ” reward system. The design aims to incentivize users for actively engaging in chat sessions with the AI model. Users have the opportunity to earn non-fungible tokens (NFTs) and token prizes as rewards for their active participation. This gamified approach not only encourages user engagement. It also promotes the exploration and utilization of the AI capabilities provided by BlockGPT.

A blockchain technology web to represent the blockchain-based AI training.

Technical details regarding not explicitly provided in the accompanying white paper on the website. However, it emphasizes that the designers purposefully designed the AI to address inquiries related to blockchain technology. 

Furthermore, the white paper highlights that BlockGPT’s model empowers developers by enabling “on-chain AI inference through its essential AI Inference Engine.

This powerful capability allows for the seamless integration of AI functionalities within the blockchain. Subsequently, it will open up new possibilities for the creation of DApps and smart contracts to harness the benefits of AI technology. Leveraging the Synapse engine, BlockGPT offers a dependable framework. This ensures the reliability and robustness of the AI technology used within the ecosystem.

In summary, BlockGPT’s recent launch will bring forth an exciting and unique approach to the AI landscape. BlockGPT, with its combination of blockchain technology, incentivized user participation, and integrated advanced AI models. This will help ensure that it makes significant contributions in the field of decentralized AI applications.

By harnessing the power of blockchain, encouraging user engagement, and incorporating advanced AI models, BlockGPT aims to drive innovation in decentralized AI applications.

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Tanishi is an established writer in the realm of cryptocurrency and blockchain, renowned for her expertise and insightful analysis. With a deep-rooted passion for the dynamic world of digital finance, Tanishi delivers compelling news and articles that captivate a wide-ranging audience.