CryptoGPT
Crypto Overview
Project Overview
CryptoGPT (CRGPT) is a Layer 2 blockchain platform launched in 2023 that aims to incentivize AI development and data sharing. The project's core premise is to reward users for sharing their data that can be used to train AI models while maintaining privacy and data sovereignty.
Purpose and Utility
The CRGPT token serves multiple functions within the ecosystem: governance rights for protocol decisions, rewards for data contributors, and payment for AI services within the network. The platform includes a marketplace where developers can access cleaned, labeled datasets for AI training.
Business Model Evaluation
The business model appears straightforward and halal-compliant, as it facilitates the exchange of valuable data assets and AI services. There is no inherent interest-bearing component, gambling element, or involvement in prohibited industries.
Development and Adoption
The project maintains active development on GitHub, with regular updates to their smart contracts and infrastructure. While still in its early stages, the platform has established partnerships with several AI development companies and data providers.
Token Distribution
The total supply is 1 billion CRGPT tokens. According to their documentation, 25% is allocated to the team and advisors with a 3-year vesting period, 30% for ecosystem development, 20% for community rewards, and 25% for public sale participants. The vesting schedule for team tokens suggests a long-term commitment to the project.
Revenue Model
The platform generates revenue through fees from data marketplace transactions and AI service usage, which is permissible under Islamic finance principles as it represents payment for actual services and assets.
Crypto Impact
To assign a comfort level investing in CryptoGPT from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to CryptoGPT.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.