The First AI-Generated Meme Coin, TURBO, Launches
First AI-generated meme coin, TurboToadToken (TURBO) using ChatGBP-4, Launched by Influencer Rhett Mankind
Key Takeaways:
- TurboToadToken (TURBO) is a meme coin created by well-known crypto influencer Rhett Mankind.
- In contrast to traditional cryptocurrencies, $TURBO Rhett Mankind created TURBO almost entirely using ChatGPT-4 by asking the AI questions and following its AI's instructions.
What is TurboToadToken ($TURBO)?
TurboToadToken (TURBO) is a community-driven AI-created project built on the Ethereum network. Rhett Mankind created TURBO by asking ChatGPT questions and following its instructions. The project launched in April 2023 as a performative art piece. It aims to disrupt the meme coin space and highlight what is possible using AI.
However, spurred on by the backing of its community, the TURBO token went on to be listed on several high-profile exchanges, including Bitget, Uphold, HTX, and OKX. In just three days, since May 25th, the TURBO meme coin has surged in value by over 126% on OKX, leading thousands of investors to post about the asset on X and other social media platforms.
Despite its recent successes, TURBO has essentially no utility or intrinsic value. According to the TurboToadToken whitepaper, the project features include:
- No transaction tax
- Renounced contract ownership
- Community-driven nature.
The total supply of TURBO is 69 billion tokens, 9 billion of which have been allocated to the founder, and the remaining tokens have been distributed amongst crowdfunders.
How AI Could Impact Cryptocurrency Launches
ChatGPT and other intuitive AI tools drastically lower the barrier to entry for creating cryptocurrencies like the TURBO meme coin. As updates to AI tools give them access to more recent and relevant information, we could see them factor current trends into their launch plans. Therefore, we could see an increase in people launching unsubstantial cryptos to capitalize on trends or hype.
Unfortunately, as AI tools advance, we'll see an increase in the number of projects without utility. However, AI could also be used to generate new ideas or perspectives, adding value to the industry. Moreover, once we can more easily train an AI, projects could create custom virtual helpers to assist in their communities.
Over the next few years, AI will increasingly be implemented in cryptocurrency. Projects will use AI throughout the creation process and provide intrinsic value to users/investors. AI is here to stay. As such, the cryptocurrencies that adapt and use AI to add value will likely succeed, while those using AI as a shortcut will struggle.
Jay Leonard
Jay has been providing commentary on the cryptocurrency market and offering readers guidance for over three years. While primarily focused on fundamental analysis and what institutional adoption means for the industry, Jay also has experience with technical analysis, actively trading and investing in a wide range of assets.
