ChatGPT-created Turbo memecoin crosses $50M marketcap
The Turbo memecoin, created using the popular AI tool ChatGPT, has crossed the $50M market cap mark within a short time of its launch. The project was initiated when digital artist Rhett Mankind gave ChatGPT instructions and a budget of $69 to create a memecoin that would surpass the hype of all other memecoins and achieve a top 300 rank on CoinGecko. The AI tool created the memecoin name "TurboToad" and designed the branding, provided the smart contract code, prepared the tokenomics and the Whitepaper.
The initial DEX launch failed due to bots getting most of the liquidity, but ChatGPT gave Mankind ideas on how to move the project forward, including crowdfunding, social media promotion, and airdrops. The token was eventually launched under a new name "Turbo" with a 69 billion token supply, of which 60 billion went to the community while the rest belonged to the creator.
The token has a thriving social media presence with over 10,000 followers on Twitter and a discord group. As of press time, the token is trading at $0.00053512, and its market cap exceeded $50 million on May 3. Despite a recent drop in its market cap to around $34.6 million, according to Dextools data, it has attracted interest from several crypto influencers and popular accounts, further generating interest in the memecoin. Several crypto exchanges like MEXC and LBank have also listed the token.
Overall, the creation of Turbo memecoin highlights the potential of AI tools like ChatGPT to initiate novel and exciting projects in the blockchain space.
