#206 - What could be more 2023 than an AI memecoin?

GM and welcome to Decentra Daily.

We're the web3 newsletter that can’t wait to tell you what’s happened in web3!

Today,

1. A memecoin made entirely by Chat-GPT

2. Opepen holders get their hands on new artwork

Plus, all the web3 headlines, memes, and Tweets of the day.

D-Daily takeaway 🥡
Stable floor prices over the past couple of days.

What's this? 🤔
Our floor price index tracks the biggest, most influential pfp projects, art collections, and gaming assets.

This memecoin was made entirely by asking ChatGPT what to do

Here’s a project that couldn’t be more 2023 if it tried.

It’s an art experiment that combines the two biggest web3 trends of the year: memecoins + AI.

Rhett Mankind, a web3 artist, gave ChatGPT4 a $69 budget (ofc) and told it to take on the persona of “a crypto genius AI.”

Taking GPT’s instructions, Rhett proceeded to create an entire memecoin project – complete with smart contract, branding, Twitter profile, and discord.

So how’d it go down?

Over 5 days last week, Rheet and GPT live-tweeted the development of TURBO.

• On day 1, Rhett & GPT nailed down the branding, landing on a Toad as the token’s mascot (great choice, GPT!) The robo-human team also worked out tokenomics based on recent coins like $PEPE, wrote a whitepaper, and took a first stab at coding the contract.

• Day 2 was about finishing and auditing the contract, creating socials, and an entirely GPT-written website. After GPT wrote a notification alerting the community to an existing fake “TurboToad” token, Rhett deployed the contract to the Ethereum blockchain.

• On day 3, Turbo encountered its biggest issues. After bots bought up all liquidity from the project, Rhett asked his new community whether he should end things here.

• But after a vote to continue (and an apology from GPT), Rhett opened up the project for crowdfunding on Day 4. The result? A new token ($TURBO) with a supply of $69 billion, distributed to crowd funders based on their ETH contributions.

• And on the final day, GPT updated the final contract and told Rhett how to upload it to Github for a public audit. TURBO was now launched and in the hands of its toad community.

Here’s Turbo’s official token address.

Plus, the Twitter channel and community Discord.

– And here’s the personal story of TURBO so far, from the artist themself:

Interesting! 🐸 So what’s the latest news for this project?

With TURBO’s artistic origins, it makes sense that the token should get the most attention in web3’s artistic corners.

Well-known art collector Pranksey gave Turbo’s liquidity pool a big boost.

And after retweets and endorsements from Crypto Twitter influencers, $TURBO is now sitting at a $34 million market cap with over $30 million in volume over the past 24 hours.

Unique holders are approaching the 10K mark, with $TURBO now listed on several DEXs.

Yesterday, the creator/artist platform Manifold made it possible for collectors to buy and sell NFTs using the coin.

Rhett created an open edition of Turbo’s AI-generated mascot to celebrate:

Rhett’s portfolio of art is also getting increased attention and seeing a bunch of sales.

Right now, Rhett and the community are discussing when and how to renounce the Turbo contract.

So, whether viewed as a promo project, degen experiment, or piece of performance art, $TURBO seems to be a resounding success so far..?

(Would love to get the opinions of Decentra Daily’s crypto-savvy readers on this one – what do you think of $TURBO’s concept, tokenomics, distribution, and chances of success? Let us know over on Twitter.)

Notable Tweets ✅

On the web3 wire

Talk to Pi, the new conversational AI 🗣️
Pi is a friendly chatbot from the cofounders of DeepMind and LinkedIn, designed to mimic casual speech and take part in personal conversations. Tip: try voice 3 for the most realistic experience.

Blur’s Blend platform has processed over 14K ETH in loans already 🏦
Dune Dynamo @Beetle has made a useful dashboard for tracking Blend loans, which are currently worth more than 6,500 ETH.

Microsoft’s business-ready ChatGPT could cost 10X the normal price 🫰
Companies who want to use a private and more secure version of ChatGPT running on private servers could face a bill that’s 10 times what customers currently pay.

Opepen AI artwork reveal

Ready for some numbers?

• 16,000 Opepen NFTs

• 200 metadata drops of new, AI-created artwork

• 80 Opepens updated each drop

• 6 artworks of varying edition sizes for each set of 80

• (including a single 1/1 per set)

Jack Butcher sure likes his complex project mechanics… 😮‍💨

This is the much-anticipated distribution of artwork for Opepen holders – who were required to “opt-in” for their asset to be entered into these metadata raffles.

It’s up to holders to decide which artwork drop they want to opt into, and which edition rarity they want to try their luck for.

If not enough holders opt into a drop, that entire set will be ditched – providing a neat community mechanism for artwork feedback.

The new Opepen artwork is generated using AI models, with each image based on the original Opepen ‘frame.’

Here are the first two drops:

• Drop 1 includes a series of multicolored animations.

• Drop 2 is the Opepen frame rendered as different natural materials, like granite, paper, and glass.

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Meme of the day

You miss the shots you don’t take …and some of those you do.

Until the next Decentra Daily. 🦸‍♂️

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