Seeking to leverage its loyalty platform, crypto community Galxe announced Tuesday the launch of Galxe AI, an interactive assistant that helps users navigate the often confusing world of Web3 projects.
“We’re providing the infrastructure for brands to easily launch their loyalty programs and growth campaigns so consumers can engage with brands,” Galxe co-founder Charles Wayne told TCN. As Wayne explained, Galxe aims to build an open and collaborative certificate data network that is accessible to all blockchain developers.
The generative AI has made sorting through large and complex datasets easier than ever. These AI assistants range from simple explanations of technical topics like “what is blockchain” to how to create a smart contract.
To launch its new AI initiative, Galxe partnered with AI developer Alva to integrate OpenAI’s GPT-3.5 turbo into Galxe’s platform, allowing users to ask the chatbot questions about the various projects and NFT collections supported by the network. The launch of Galxe AI is planned for December.
“We’ve built a network of credential data in the chain that users will have to check outside of it, and then users check themselves,” Wayne said. “We have about 120,000 certificate datasets created in our certificate network. “
This is the point where Web3 meets AI. ☄️
Introducing Galxe AI, the most cryptographic chatbot powered by @alva_xyzhttps://t.co/eSHm56ReK2
– Galxe (@Galxe) October 31, 2023
Launched in 2021, San Francisco-based Galxe is a blockchain-based site that gives businesses and consumers the tools they need to build online communities through loyalty programs. In January 2022, Galxe raised $10 million in funding led by Multicoin Capital and Dragonfly Capital. Galxe’s ERC-20 token GAL was launched on Binance’s Launchpool in April 2022.
As Wayne explained, Galxe’s certificate data network is the core infrastructure of the Galxe platform. Projects can create a curated list, such as the “top 10 traders on Uniswap,” “users who have pledged at least 1 ETH.” etc., and check if users have credentials in relevant loyalty programs.
Wayne said the team has turned to AI to provide a more convenient model for connecting businesses and expanding its services for crypto investors and professionals.
“We hope this feature can replace existing Web3 research products in the market,” Wayne said.
Earlier this year, Mysten Labs co-founder and CEO Evan Cheng predicted that investor money would shift from blockchain applications to artificial intelligence due to its wider use.
“ChatGPT came out and [developers] are creating products and apps for consumers and for developers – broad, large-scale use cases are immediately possible,” Cheng said. “In the crypto industry, products are being built for the crypto-people.”
The move to AI is a sign that crypto companies have seen the writing on the wall and are changing course to use generative AI.
Other blockchain companies using AI for blockchain analytics include social analytics site LunarCrush, Arkham Intelligence, blockchain security app Cube3 and blockchain software developer Alchemy.
“We’ve been using machine learning and AI since the beginning,” LunarCrush co-founder and CEO Joe Vesani previously told TCN. “We use things like Google TensorFlow and OpenAI’s ChatGPT, and we trained [the AI] on various social media posts that came in about sentiment, from bullish to bearish, focused on finance.”
Cube3 CEO Einaras Gravrock told TCN that Cube3 blends AI with cybersecurity and cloud engineering to build supervised and unsupervised machine learning models for Web3.
“We recognize that we are only at the beginning of this journey and will continue to improve our existing models as well as introduce new models as threats evolve,” said Gravrock. “This process allows us to catch exploits in newly deployed contracts or fresh wallets and stop the transaction before the exploit happens. “
