In the world of cryptocurrencies, user CroissantEth (social media profile name) devised an intriguing plan to create a “hugely successful memecoin with the assistance of ChatGPT and its API.
Although ChatGPT cannot generate tokens directly, CroissantEth has identified a solution using its Artificial Intelligence (AI) API.
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The apparent ease in creating tokens raises questions about the possibility of flooding the market with coins of dubious utility and eccentric names.
O ChatGPT is at the forefront of simplifying this process for blockchain developers. CroissantEth, a fearless independent developer, used AI to create an Ethereum-based token, employing the OpenAI API through an ingenious script.
Previously, ChatGPT excelled in predicting cryptocurrency prices and evaluating the success of various “memecoins”. Such unique AI can share analyzes based on public data and even create new cryptocurrencies.
CroissantEth demonstrated its brilliance by producing AstroPepeX (APX), a “memecoin” based on the iconic “Pepe the Frog”, which generated immense enthusiasm and reached millions of dollars in volume transactions.
Typically, ChatGPT does not have the intrinsic ability to generate codes for Ethereum tokens, but it can skillfully guide users through specific instructions.
However, the OpenAI API relaxes this limitation, allowing developers to integrate ChatGPT into their own applications connected to the Ethereum network.
(Image: disclosure)
CroissantEth developed a clever script that led ChatGPT to compose a new token applying the OpenAI's Open Zeppelin API, enabling users to configure parameters such as the name of the token.
ChatGPT also demonstrated creativity by devising titles for “memecoins” based on user suggestions and the names of other cryptocurrencies.
Therefore, CroissantEth gave life to coins such as Inuverse and Quantum Pepe, alluding to popular projects such as Shiba Inu and Pepe.
Another interesting aspect is the bot's ability to create logos for tokens based on their names, employing the impressive DALL-E neural network.
This AI appears to be in tune with cryptocurrency market trends and is able to generate coins similar to existing projects.
However, projects like CroissantEth face challenges related to ownership of smart contracts and private keys.
To overcome such an issue, the developer proposed that after implementing a smart contract, ownership would be immediately revoked and all tokens would be added to Uniswap, along with 2 ETH.
Despite its limitations, the CroissantEth project is a fascinating journey that demonstrates the potential of AI in the context of cryptocurrencies.
Their script could eventually give rise to tools that would speed up the large-scale creation of meme tokens.
However, this development also raises legitimate concerns about the proliferation of coins with dubious utility and fancy names in an already inherently volatile market.
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