Cryptogpt, a Layer two (L2) project that combines ZK-rollup technology and artificial intelligence (AI), has raised $10 million in a Series A funding round at a valuation of $250 million.
The financing round was led by DWF Labs, a leading digital asset market maker, and multi-stage Web3 investment firm, tweeted the company.
“New funding at a $250M valuation from DWF Labs positions GPT both financially and strategically with the most established layer-2 developments in Web3,” the company said.
The new funds will be used to expand Cryptogpt’s reach in the largest Asian markets and grow its developer team globally.
The company has already received a $10M strategic investment from the largest Asian market maker, which positions Cryptogpt financially and strategically with the most established layer-2 developments in Web3.
Multi-value gas token
Cryptogpt’s L2 network uses a native token called GPT, a multi-value gas token with high demand as fuel for network transactions. The company aims to earn money by monetising users’ data across fitness, dating, gaming, and education.
There is a circulating supply of three billion GPT, and the ERC20 version of GPT has 3,557 holders.
Ten of the top GPT holders command 82.95% of the circulating supply.
Currently, the GPT token is available on exchanges, including Bitfinex, BingX, Bybit, and Bitget.
Meet Alex
Cryptogpt has introduced a chatbot called “Alex,” which is powered by OpenAI models.
The AI chatbot is a companion in the Cryptogpt ecosystem that can answer any question and complete creative tasks. Cryptogpt’s team says Alex is the key to the infinite knowledge of the internet.
As Cryptogpt continues to develop its L2 network and AI capabilities, it will be interesting to see how the company performs in the competitive cryptocurrency landscape.
Image credits: peshkova/DepositPhotos
