Following a $7.5B token merger, more crypto AI alliances have emerged.

On May 13, blockchain AI platform ChainGPT launched its project, Wisdomise AI, in partnership with KuCoin and Gate.io to hold its first IDO.

Wisedomise is an AI-powered crypto advisor and investment assistant that helps users learn, predict and execute digital asset trading. ChainGPT CEO and founder Ilan Rakhmanov said the tool allows users to use “advanced AI algorithms” to participate in digital asset marketplaces.

Wisedomise is currently targeting IDO with a total valuation of $20 million. Meanwhile, ChainGPT uses language learning models (LLM) to build AI-powered chatbots and news aggregators and is currently valued at $236 million based on generation tokens.

Similarly, on May 3, it said it would partner with GPU cloud infrastructure provider Aethir to accelerate the development of AI for Web3's base layer KIP protocol on both networks. Through the collaboration, KIP will deploy its KnowledgeFi monetization system and decentralized retrieval augmented generation (dRAG) framework to Ethereum with AI models to dynamically collect data after user requests.

Likewise, Aethir will allow its KIP protocol to access a fleet of 40,000 GPUs and 3,000 NVIDIA H100s to generate AI queries. Julian Peh, co-founder and CEO of KIP Protocol, explained that the two protocols are using the company's computing resources to deploy its AI resources and develop monetization tools.

Last month, the three biggest players in the crypto AI industry, SingularityNet, Fetch.ai and Ocean Protocol approved a $7.5 billion token merger, creating the Artificial Superintelligence Alliance (ASI) project. ASI is currently investigating three different product pipelines: deploying AI agents in business settings, neural symbolic language learning models (LLMs), and AI data sharing and use.

“In the near future, we expect to generate revenue when we launch an agent network for deployment,” Humayun Sheikh, Chairman of Artificial Super Intelligence Alliance and CEO of Fetch.ai, in a statement to Cointelegraph. “In the short term, we will focus on deploying a number of commercial products that will breathe life into AI applications.”

Despite the rumors, fraudsters have also started taking advantage of unsuspecting users, lured by the frustrations of crypto AI.

On May 5, blockchain security firm CertiK reported that Genius Crypto Token GNUS.ai was exploited for $1.27 million. After using the developers' private wallet on Discord, an attacker created a fake GNU token on the Fantom blockchain and copied the code from GNUS.ai's Ethereum Chain, thereby converting the fake GNU tokens on Fantom into real GNUS.ai tokens. The attacker then linked 500,000 worth of illegally generated GNUS.ai tokens from Fantom to Ethereum and sold them for $1.27 million.

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