OpenAI ChatGPT: Is It Useful for Crypto Community?

Since it started, ChatGPT has gotten a lot of attention. Some people called it a technological breakthrough and said it would kill search engines in the future, while others thought it would be forgotten in a few months.

What’s ChatGPT?

ChatGPT is a chatbot that can talk to you just like a real person would. It is made to understand your questions about different things and give you detailed answers. Even though the program’s answers aren’t always right, it does a great job and makes you feel like you’re talking to a real person.

The bot uses Generative Pre-trained Transformer 3, one of the most complex autoregressive language models, to write text that sounds like it was written by a person (GPT-3).

Reinforcement Learning with Human Feedback has been used to make ChatGPT better for contextual conversations (RLHF). During this process, the model was taught with a lot of information from the Internet, including people’s conversations. This explains why the bot can respond like a person no matter what the conversation is about.

AI can also be taught to report on market trends, prices, and other useful information to help traders make better decisions.

Who came up with ChatGPT?

OpenAI, which is based in San Francisco and was founded in 2015, made ChatGPT. The company describes itself as a researcher of AI technologies and related fields for the good of humanity.

Elon Musk and Sam Altman both helped to start OpenAI. Altman is a business owner, investor, programmer, and blogger from the United States. He is also the CEO of the company. Musk stepped down from the board in 2018, but he still gives money to the company.

Microsoft is one of OpenAI’s many top sponsors and investors. The company doesn’t talk about its finances, but the most recent reports from Reuters say that OpenAI will make $1 billion by 2024.

The Price of AI Tokens Goes Up Because ChatGPT is So Popular

A lot of people are interested in crypto tokens that have to do with artificial intelligence. There were rumors that Microsoft might invest in OpenAI, the company that made ChatGPT. This led to a rise in demand. It is written about in The Block.

CoinGecko says that the prices of nine AI-related coins have gone up by more than 50% in the past week. But many of them are thought to be low-liquid. This means that changing the price doesn’t take much time or money.

There are other ways to use ChatGPT in the cryptosphere, but it’s interesting that the project’s popularity and news background showed up in places where it wasn’t directly involved. Since the beginning of January, the price of tokens for blockchain projects that are in some way related to developments in the field of artificial intelligence has been going up. When news about OpenAI comes out in the media, the price of these tokens often goes up quickly.

At least nine coins that all have the same “story” about AI grew by more than 50% in a week. When the news came out that Microsoft was going to put money into OpenAI, the AGIX token for the SingularityNET project went up by 18%. The price of the token doubled a week later. At the time this article was written, AGIX was worth about 20 cents, according to CoinMarketCap. During the New Year’s holiday, you couldn’t get more than 5 cents for a coin.

Over the past week, the price of the Fetch.ai (FET) platform token went up by 80%. The coins of The Graph (GRT), Ocean Protocol (OCEAN), Cortex (CTXC), and other AI and Big Data-related projects also went up by tens of percent. “The biggest cryptocurrency exchange, Binance, just announced the launch of perpetual futures on AGIX and FET with up to 15x leverage. This comes as the number of trades on Binance has increased by a lot.

Community members are working on a “narrative” of the crypto market based on artificial intelligence. They are looking for new informational triggers that, in their opinion, can affect the price of assets. For example, some low-liquidity tokens in the same category skyrocket in price when traders want to make money.