Australian-based digital artist Rhett “Mankind” spent a week creating a popular new meme cryptocurrency, but he didn’t do it himself.
It includes step-by-step instructions and dozens of lines of code written by OpenAI’s $20/month artificial intelligence chatbot GPT-4. Opinions from Twitter followersthe artist spent a week creating and launching the Turbo cryptocurrency.
From the cheeky initial $69 he personally invested, the meme cryptocurrency rose to a serious market cap of $77 million in just two weeks. Mr. Mankind, 46, has slowly been able to earn enough money to buy a house near his 13-year-old daughter’s school. He still holds just over 10% of the 69 billion tokens.
Turbo joins a crowded field of meme cryptocurrencies, including Dogecoin and newcomer Pepecoin, which have exploded in popularity and generated billions of dollars in the process. Others are designed primarily to separate investors from their money as they dig for the next diamond in the rough. Although Mankind maintains that Turbo should fall into the former category, he is still surprised by its rapid success.
“It’s hard to imagine that something as small as an idea that started from nothing, like a $20 subscription to GPT, could grow into a multi-million, tens of millions, hundreds of millions of market capitalization projects. It’s hard to do,” he said. luck. “It’s really amazing.”
Mankind, who declined to give his real name for privacy reasons, said the project began as a “digital performance art piece” and as an extension of AI experiments that had previously focused on images and programs such as stable dissemination. He said it has started. He said he wanted to see if a chatbot could help him create tokens, even though he knew nothing about coding or smart contracts.
His first prompt told GPT-4 that it was now called “MemeCoinGPT” and provided step-by-step instructions on how to create the token and disseminate it. First on your list, think of a name.
Some of the chatbot’s early suggestions included “HypeHoundCoin” and “StellarSlothToken,” but his small group of Twitter followers overwhelmingly preferred “TurboToadToken.” When it came time to create a logo, GPT-4 gave him a prompt to generate an orange cartoon toad wearing a space helmet (later named Quantum Leap) with the AI image generator Midjourney 5.1 .
With a name and a logo, humanity was ready to build real infrastructure, but they couldn’t because they didn’t know how to code.
Instead of following GPT-4’s suggestion of spending years learning Solidity, the programming language used to create smart contracts on the Ethereum blockchain, ManKind wants chatbots to do the coding for them. I asked if there was. Mankind and his GPT-4 were forced to do it, and over the course of several days (during which he addressed various coding errors on his part with the help of his Twitter community), the TurboToadToken (TTT) I created the first version.
After paying an initial investment of $69 plus $500 to launch a token on the blockchain, humanity’s first test was crippled on arrival as malicious bots bought nearly all the tokens. Ta.
“The project was a failure at that stage. I thought, ‘Okay, it’s done,'” he said.
Exasperated humans were about to give up, but their Twitter followers overwhelmingly voted in a poll to continue the experiment. After turning to his GPT-4 in search of a new way forward, instead of him pouring all his money into starting the project, GPT-4 is a token that investors invest in and is proportional to the amount they contribute. We proposed a crowdfunding approach in which we would receive .
The second launch was successful despite the addition of new investors and a new name Turbo, and the token quickly became popular.Digital Artist Beeple Sae He mentioned Turbo in his art.
Since its launch in late April, Mankind has largely backed away from the project. He made his mascot Quantum Leap available for anyone to use through a Creative Commons Zero License and relinquished ownership of the smart contract, so the code can no longer be modified.
“All assets and elements of the project are in the hands of the community,” he said.
Although smaller than other online communities supporting memecoins such as Dogecoin and Shiba Inu Coin, the project’s Discord has about 500 participants. Some token holders are already working to list their coins on his Dextools, which provides traders with information about decentralized markets. They also set up a Telegram chat and ran an art contest that incorporated tokens.
Mankind said that even after the token made him a billionaire, he was still participating as a regular community member, at least on paper (or in code). The community that has sprung up around Turbo is conflicted over whether he should hold on to the tokens for the long term or gradually sell off some of his holdings to maintain the security and integrity of the coin.he said luck He doesn’t plan on selling anytime soon.
“Perfect summation of 2023.”
Neither do many of the coin’s supporters, including an anonymous crypto investor who goes by the name Doodler.eth online. He bought 1 million Turbo tokens on May 3 for 0.29 Ether (about $539 as of Wednesday). This was because I was interested in the background of humans as artists and how they created tokens using AI. Although he traded one token for an NFT, he still has 999,999 Turbo, worth about $1,125 as of Wednesday, but said he has no immediate plans to sell.
“At a time when meme coin mania was at its peak, the story behind Turbo above all else really caught my eye and summed up 2023 perfectly,” Doodler said. luck In a private message on Twitter. “Everyone loves a good story, and there’s nothing like the meeting of art and AI.”
On Tuesday morning, the token soared to CoinGecko’s top 300 cryptocurrencies, achieving one of the ultimate goals humanity originally laid out for GPT-4. By Wednesday, the cryptocurrency had fallen outside the top 300, but still had a market capitalization of about $77 million.
While the token appears to be an overnight success, Mankind insists it is the culmination of years spent in the Web3 space as a digital artist and investor.
“It’s hard to talk to anonymous people from all over the world and try to build real community, especially when you’re alone in your bedroom,” he says. “This success set in motion all the work I have done over the years.”