What if ChatGPT made you rich?
© Rhett Mankind via Twitter
- Artist Rhett Mankind asked ChatGPT to create a cryptocurrency from A to Z
- In just two weeks, $Turbo’s market capitalization reached up to $77 million.
- Rhett Mankind is now a millionaire
Rhett Mankind, an Australia-based digital artist, created a meme cryptocurrency, the “TurboToadToken,” in a week with the help of ChatGPT.
“A lot of obstacles, but to my surprise, it became a real artistic performance and I really managed to throw it all off! $TURBO,” he tweeted.
How this artist became a millionaire by betting $69
Starting from an initial capitalization of $69, the meme-based crypto reached a whopping $44 million in just two weeks with a peak at $77 million as reported by Fortune. Rhett Mankind managed to sell enough of his tokens to buy a house closer to his 13-year-old daughter’s school. It still holds just over 10% of the 69 billion tokens.
Initially, the artist did not think he would become rich like this, so quickly. The experiment began as a “digital artistic performance,” an extension of his experiments with AI. Rhett Mankind asked ChatGPT to provide him with all the steps to launch his cryptocurrency. The bot obeyed, and within days, the artist and GPT-4 created the first version of the TurboToadToken, or TTT.
After paying $500 on top of its initial investment of $69 to launch the token on the blockchain, however, the first test was not very conclusive. The attempt failed after a malicious bot bought almost all of its tokens reducing the exchanges to nothing. “The project was a failure at this point. I was like, ‘OK, it’s over,'” he said.
Mankind was willing to give up everything, but his Twitter followers voted overwhelmingly for him to continue the experiment. After turning to GPT-4 for a new direction, this time it was suggested a more effective boen crowdfunding approach. Instead of leading him to put money to boot, investors could also bring in new money – while receiving tokens in exchange for what they have contributed.
The second launch was a success, and the token quickly became popular. After the launch at the end of April, however, Mankind withdrew from the project. He made Quantum Leap, the mascot, free to use through a Creative Commons Zero license and gave up ownership of the smart contract so that he could no longer modify the code. A beautiful story that could be emulated?
According to him, nothing is that simple: this success is according to him the culmination of several years on the crypto and Web3 scene and he stresses that it is not an easy way to get rich.
“I’m just an observer now, it’s the Internet users who decided to register Turbo on the marketplaces, it’s now fully decentralized,” says Rhett Mankind. In addition to the explosion of its cryptocurrency, Mankind has also seen an increase in its NFT sales. After struggling to sell his works in NFT, he managed to sell a hundred, accumulating a total of $40,000.
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