On 11th of May, BlockGPT, a new Web3 firm, announced the release of an artificial intelligence (AI) service called chat to earn and an associated blockchain ecosystem.

The company seeks to create a decentralized chatbot on the blockchain that is governed by tokens and provides similar functionality to OpenAI's ChatGPT. Along with the AI model's launch, BlockGPT is offering two tokens, a governance token named BGPT, and a meme token called AIBGPT, both of which are built on the PancakeSwap decentralized exchange for BEP-20 tokens.

BlockGPT is introducing a reward system called chat to earn alongside its tokens, which will allow users to earn token prizes and nonfungible tokens (NFTs) for participating in chat sessions with the AI model. According to a white paper available on the company's website, BlockGPT is using more than six generative pre-trained transformer (GPT) models on its platform, which were trained using a proprietary dataset.

The white paper, however, does not provide details such as the size of the dataset or the number of parameters used to train the model. Nonetheless, it asserts that the AI model was specifically designed to respond to blockchain-related queries.

Sources:

https://www.investing.com/news/cryptocurrency-news/blockgpt-launches-chat-to-earn-ecosystem-for-training-ai-3080721

https://cointelegraph.com/news/blockgpt-launches-chat-to-earn-ecosystem-for-training-ai

https://finance.yahoo.com/news/blockgpt-launches-cutting-edge-ai-190000913.html

https://www.gadgetany.com/news/blockgpt-launches-chat-to-earn-ecosystem-for-training-ai/