Is the CryptoGPT project a scam?

The “CryptoGPT” project, which has recently received attention on Twitter and among digital currency market activists, claims to have provided a possibility for users to earn money from data related to their daily activities; But some users seriously doubt the promise of this project.

According to CoinMarketCap, this new project is apparently trying to use the growing popularity of “ChatGPT” to its advantage. CryptoGPT claims to allow users to monetize their data and turn all their daily life activities into a source of income.

CryptoGPT claims that personal data related to our use of health and fitness apps, games, music and dating sites can all be used for monetization. The name of this project was also trending on Twitter before the launch of its token.

However, it is not clear whether there is anything in reality to support CryptoGPT’s bold claims; Or is this plan just another project that tries to increase the price of its digital currency by using the keyword “artificial intelligence”.

As it turns out, according to CryptoGPT’s idea, data about our app usage is stored in the form of NFTs on the blockchain network, and since AI systems must continuously train their algorithms with new data, this information can be valuable.

This idea is part of a long-running debate about how creators of free Web 2.0 platforms (the second generation of the Web – like Google) often monetize our data without paying us a portion of that revenue.

However, one concern that the CryptoGPT project has not yet addressed is the critical issue of privacy and the steps the platform takes to anonymize the data it collects from users.

Given that Move to Earn projects have so far yielded very little returns, time will tell if the income earned from CryptoGPT is really worth a try.

Some users on Twitter have warned that the project is a scam and urged investors to proceed with caution.

The CryptoGPT project token, along with many other AI-based project tokens that have entered the market in recent months, has outperformed Bitcoin and Ethereum recently.