The social media platform Twitter is getting flooded with more than a dozen accounts in the name of the crypto token CryptoGPT.
#cryptoGPT is currently a top trending hashtag on Twitter.
Powered by artificial intelligence, CryptoGPT functions as a blockchain protocol with an aim to make trillion-dollar data. The new Twitter accounts pose that it is related to the crypto token.
Additionally, some of the accounts are made up of details provided on the official website of the token. It received widespread attention when a few of the accounts offered giveaways in an attempt to deceive users and lure in money.
The fake accounts were prompting users to download CryptoGPT. With this, the hashtag #Download CryptoGPT reached the top of the Business & Finance trending section. The hashtag has around 7,000 tweets associated with it.
While most of the fake accounts claimed to be authentic CryptoGPT, some others claimed to be CryptoGPT investors and CryptoGPT experts.
The accounts made it seem that the crypto token was advertising new deals and offers via the Twitter handle. It tried to create an impression that the token had started AI-powered data monetization on its crypto chain.
Many of the tweets posted a sign-up code and asked the users to use it as a referral code and to download CryptoGPT.
Such accounts allegedly claimed that the first airdrop of CryptoGPT had begun and even posted fabricated details about the airdrop.
A community of users thought that the token was related to OpenAI’s Al chatterbot, ChatGPT, as the names seemed similar. The reason for the circulation of this notion was the similar trend of fake tokens that happened earlier.
It was on the release of ChatGPT and BingAI, Microsoft’s version of ChatGPT, that several crypto tokens of the same name plunged.
Such tokens are widely known to be a part of the pump-and-dump scheme in which the fraudulent creators intentionally spread false or misleading details and offers about a stock that would pump its price.
When the stock reaches a peak, the creators would proceed to sell shares including theirs, at an inflated price and this is known as the dump of this scheme.
It is to be noted that the crypto token CryptoGPT is not related to the AI chatbot ChatGPT, which has been going viral recently.
So, what actually is CrytpoGPT?
About CryptoGPT
What Is CryptoGPT?
CryptoGPT is a tech fusion of blockchain and AI. It is the first of its kind to succeed in the dual technology combination.
CryptoGPT is a ZK Layer-2 blockchain that is designed in a way to power the current AI revolution. ZK is a blockchain technology that is a blanket term for the services and protocols that use the encryption method known as ZK Proofs.
ZK, the acronym for Zero Technology, allows parties to prove and verify information without having insight into the information itself.
The users of the crypto token will have the option to earn cryptocurrencies by sharing their anonymous data using the ZK proofs technology.
About GPT Tokenomics
What Is GPT Token? The Native Asset Of CryptoGPT?
The earliest definition for a GPT token is that it is a multi-value gas or a GPT token is a multi-value asset.
This native token runs on the Layer-2 network of Ethereum. The GPT token is the required fuel for network transactions.
What Supports GPT Tokens To Resist Volatility?
- Data Capsule NFT Sales
- Income From CryptoGPT Core Apps
- GPT Data Market Revenue
- Gas Fees
How Is GPT Token Complemented?
GPT tokens are complemented by value channeling from factors such as
- cash flow from Core products
- validator staking
- a treasury of commission power
- that can come useful at liquidity events such as
- GPT burndowns
- GPT buybacks
- venture investing
- enhanced yield-staking
- that can come useful at liquidity events such as
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GPT Token Holding Or GPT Token Staking Utilities
- Product discounts applicable to the ecosystem
- Instant liquidity for mining data
- Instant liquidity for buying data
- Validated network
GPT Token Supply Distribution
- Data Mining Incentives – 25 %
- Staking, Liquidity, MM – 20 %
- Public Sale – 20 %
- Team – 16 %
- Development Reserve – 10 %
- Partners and Advisors – 06 %
- Marketing – 03 %
Previously, on March 8, the digital token exchange platform, Bitfinex, announced that it would list the native token of CryptoGPT on its platform.
Other exchange platforms that announced plans to list GPT are ByBit, MEXC, PancakeSwap, Gate, and Bitget.
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