The AI now also creates memecoins and has already generated USD $13 million with its first token, AstroPepeX. A developer shared how he got ChatGPT to make ERC-20 tokens.
Artificial intelligence (AI) is also capable of creating its own memecoins.
An anonymous Ethereum developer has successfully tested ChatGPT ‘s ability to create meme tokens on the Ethereum blockchain. The developer, identified as @CroissantEth on Twitter, explained this week how he programmed the popular AI chatbot to create a catchy-named project that managed to attract the attention of thousands of users.
In a tweet thread, Croissant unveiled code that it alleges instructs AI tools to implement new ERC-20 tokens. He said he combined OpenAI ‘s ChatGPT application programming interface (API) with his own script to allow the system to generate digital currencies automatically.
What if ChatGPT could implement its own token? Obviously, ChatGPT cannot directly deploy a token on Ethereum. However, using the OpenAl API, this can be circumvented…
“In essence, it asks ChatGPT to form an ERC20 token using Open Zeppelin standards, ” the developer continued, referring to the open-source framework for creating smart contracts that contain libraries of contracts written in Solidity, the programming language. of Ethereum.
ChatGPT now also creates Memecoins
Croissant tested his invention, resulting in the public launch of AstroPepeX (APX), available on the decentralized exchange (DEX) Uniswap. The new memecoin created by AI raised nearly USD $13 million in trading volume in a matter of one day, as reported by Decrypt. It has also gathered more than 2,400 holders, according to data from Etherscan.
The name didn’t come from nowhere. To create its coin, ChatGPT relied on real data from the top 10,000 tokens traded on Uniswap and cross-referenced it with market capitalization data from CoinMarketCap and CoinGecko. The AI model’s work resulted in a catchy name, which no doubt references another popular memecoin.
The developer shared with Decrypt some fun anecdotes about ChatGPT ‘s naming process. “It was cool to see where GPT really brought real creativity to the data,” Croissant said. “I started to feel like [the AI] was developing a mind of its own.”
He further explained that other details specific to AI-generated tokens, such as the supply amount, can be configured directly or left to ChatGPT ‘s own creativity. More complex parameters, she stated, are “definitely possible.”
The visual aspect of the project was also generated with artificial intelligence through DALL-E, another tool provided by OpenAI for image creation, he detailed. With this, he managed to generate an appropriate icon design for the coin. Then came the more technical part of the experiment.
Once the contract is deployed, ownership is immediately revoked and 100% of the tokens are added along with 2 ETH to the liquidity on Uniswap upon creation.
It is not the first nor will it be the last
In May, Australia-based digital artist Rhett Mankind conducted a similar experiment, also leveraging ChatGPT to create a meme coin. Turbo (TURBO), the cryptocurrency project in question, also proved successful, achieving a market capitalization of more than USD $80 million at its peak.
However, unlike AstroPepeX, Mankind’s memecoin relied heavily on human ingenuity. For example, it was not named by AI, and other elements were not automated either. Croissant told Decrypt that his project was largely inspired by TURBO, but was modified to involve even less human intervention.
“ Turbo did everything manually without entering any data and without training [the machine] to have more knowledge about cryptocurrencies,” he explained. By contrast, with AstroPepeX, “GPT actually wrote the contract code for us, based on the ERC20 contract standards that we provided in the script,” he said.
AstroPepeX has already been listed on several centralized exchanges such as Bitget, MEXC, and LBank. Meanwhile, in the near future, the market could be flooded with more AI-generated MemeCoins.
Croissant said he plans to publish a user interface for his code, allowing non-technical experts to launch tokens on Ethereum using ChatGPT. Although the tool has already been used by several of the followers, who claim to have been able to create other tokens taking advantage of the rapidly evolving technology.
“I’ve seen at least 20 projects derived from scanning local Blockchain contract implementations, and several people have contacted me to say they used the script successfully,” he said. “ Once a user interface is created, I expect this number to grow enormously.”