The emergence of artificial intelligence has ignited new opportunities for innovations and automation in blockchain technology. The combination of machine learning and deep learning has become a useful tool in the crypto world where the environment witnessed a large chunk of AI-powered tools and applications.
The arrival of AI has made it easy for web3 enthusiasts to create and deploy tokens without the need for advanced programming knowledge. With the power of Large Language Models (LLMs), creators build tokens encompassing nuanced narratives that attract investors, especially in the meme coin niche.
There are plenty of ChatGPT-coded memecoins in the market, and one of them even generated around 600 million market cap recently. This article will delve into the functioning of the meme coin market in the light of AI assistants like ChatGPT. Beyond exploring the positive impacts and futuristic potential of AI integration, we will also check the limitations.
ChatGPT’s Role in the Memecoin Market
ChatGPT is a good tool for one to seek help while creating memecoins. It can provide various types of narratives that can attract users to invest in it. If your prompt is really good, it will generate ideas, conduct market research, create an outline of a website, draft a whitepaper, and create an intriguing tokenomics.
From its incredible data storage, ChatGPT will refer to apt scholarly research papers and advise you on chain selection, capital division, smart contract deployment, and also legal and security consultations. Today, almost all memecoin creators seek the help of ChatGPT or similar AI tools.
Are ChatGPT-Coded Memecoins Revolutionizing AI and Crypto Together?
LLM is an advanced play of different types of languages but the trigger of memecoins is beyond the capacity of language models. For a set of people to invest in a memecoin and build a community around it, they should first believe in the token. Belief is a feeling not a part of thinking. One has to work beyond the thinking power of tools like GPT to gather users.
While these aids can provide data that can help one to build memecoins and save time, the true hooking point is the innermost yearning of the investor which is notably inaccessible to language. That means ChatGPT can revolutionize the environment by saving our time and providing thinking-based data. But the creation of an entertaining meme coin demands the talent of human consciousness.
Limitations of ChatGPT in the MemeCoin Ecosystem
TURBO, an Ethereum (ETH)-based memecoin created with the guidance of ChatGPT, was built on a budget of $69. Although it achieved an all-time high of 886 million dollars in market cap, the token is 70.78% down from its ATH as of the latest data. This shows us that despite whether it is coded in GPT or not, various other factors determine the fate of memecoins.
Another common issue with ChatGPT is its unreliability. Apart from its advanced coding skills, GPT occasionally lacks common sense, which is important for memecoin to hodl the community together. It sometimes provides biased responses, and intervention of human consciousness is mandatory beyond the superiority of a system like GPT.
How to Create Meme Coins With ChatGPT?
Like all the ChatGPT-driven top tokens, we should start with a good prompt while creating a meme coin. According to GPT professionals, prompt engineering is a discipline that needs to be nurtured and polished for the best results. After setting the skeleton of a unique idea, approach GPT with creative prompts and if everything is read, launch it via a blockchain provider. Here are the basic things that a capable memecoin needs:
- A website
- A reliable blockchain
- A whitepaper that outlines the core idea.
- Tokenomics
- Social Media Presence
- Marketing Strategy
- Privacy Policy and Terms & Conditions
Final Thoughts: Things to Consider Before Investing in ChatGPT-Coded Memecoins
It doesn’t matter whether you are investing in a ChatGPT-coded memecoin or human-coded memecoin, the plain rule is DYOR (Do Your Own Research) before investing. Try to do thorough market research and invest by splitting the funds that you can afford to lose. Always be aware of fraudulent activities inside the memecoin niche and its market’s volatility!
