On May 13, blockchain AI platform ChainGPT will hold the initial dex offering (IDO) of its launchpad project, Wisdomise AI, in conjunction with KuCoin and Gate.io.

Wisedomise is an AI-powered crypto adviser and investment assistant that helps users learn, predict, and execute digital asset trades. Ilan Rakhmanov, CEO and Founder of ChainGPT, said that the tool allows users to use "advanced AI algorithms" for engaging in digital asset marketplaces. 

Wisedomise is currently targeting an IDO with a fully diluted 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 its native token. 

Similarly, on May 3, web3 base layer KIP Protocol said it would partner with GPU cloud infrastructure provider Aethir to accelerate AI development on both networks. Through the collaboration, KIP would deploy its KnowledgeFi monetization system and decentralized retrieval augmented generation (dRAG) framework, used by AI models to dynamically gather information after user prompts, to Aethir. 

Likewise, Aethir will allow KIP Protocol to access its fleet of 40,000 GPUs and 3,000 NVIDIA H100s for generating AI prompts. Julian Peh, co-founder and CEO of KIP Protocol, stated that the two protocols are in alignment over the firm's use of Aethir's computing resources for powering its AI asset deployment and 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. The ASI is currently examining three distinct product pipelines: deployment of AI agents in commercial settings, neural symbolic language learning models (LLMs), and AI data sharing and utilization. 

“In the near term, we anticipate generating revenue as we launch the agentic network for deployment,” Humayun Sheikh, chairman of the Artificial Superintelligence Alliance and CEO of Fetch.ai, told Cointelegraph in a statement. “In the short term, we’ll focus on deploying numerous commercial products that breathe life into AI applications.”

Despite the hype, scammers have also begun taking advantage of unsuspecting users drawn by the crypto AI frenzy. 

On May 5, blockchain security firm CertiK reported that the Genius Crypto Token GNUS.ai was exploited for $1.27 million. After exploiting the developers' private wallet on Discord, an attacker allegedly created a fake GNU token on Fantom blockchain and copied the code from GNUS.ai's Ethereum Chain, thereby converting the fake GNU tokens to genuine GNUS.ai tokens on Fantom. Afterward, the attacker bridged 500,000 worth of illicitly minted GNUS.ai tokens from Fantom to Ethereum and sold them for $1.27 million. 

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