This New ChatGPT Project Takes Crypto Search To New Heights - Is this a Game Changer for the Industry?

According to a recent Trade Algo report, Kaito, an AI-powered Web3-focused search engine, has secured $5.3 million in a preliminary funding round. According to Kaito, the cash will expand the staff and accelerate product development.

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The investment was headed by Dragonfly Capital, with participation from Sequoia Capital China, Jane Street, Folius Ventures, Alpha Lab Capital, and Mirana Ventures.

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Kaito uses artificial intelligence technology to consolidate Web3-relevant information into a one-click offering, scraping and summarizing data from platforms like Twitter, Discord, governance forums, Medium, and podcast transcriptions.

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Kaito's search engine will also enhance search results by employing tactics similar to those used by established search giants such as Google and Bing, such as ranking, topic mining, and tailored suggestions.

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Kaito's platform is already available in an institutional edition. Nevertheless, It is collaborating with OpenAI to include ChatGPT in a future version of its search engine geared toward individuals. ChatGPT, the world's most powerful AI-powered chatbot, has just become the app with the most users in the shortest time. Many see it as a significant technical advance that will immediately and profoundly influence how we browse the internet and work.

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Kaito Fighting Crypto Information Overload

Those in Crypto and Web3 are always fighting "information overload," according to Yu Hu, the founder and CEO of Kaito, in an interview with TechCrunch. Kaito is "shortening the road to discovering solutions from 30 minutes or an hour to 10 seconds," he boasted.

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Hu is a financial veteran, having spent over a decade at Citadel, one of the world's most lucrative hedge funds. Hu became interested in cryptocurrency in 2017 and discovered that, unlike in traditional finance, where information is properly structured on platforms such as the Bloomberg Terminal, information in Crypto could be more cohesive. Kaito's goal is to make it easy to navigate the Web3 world.

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A Game-Changer for Crypto?

Information overload is one of the major obstacles blocking Crypto's broader social adoption. Individuals new to the area are bombarded with new information that they must absorb in order to comprehend how things function, which can sometimes dissuade them from getting active. Miscommunication breeds distrust about Crypto as a technology.

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One solution is to create user-friendly Web3 apps that non-crypto natives may use straight away, providing them with gradual exposure to the field.

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Another approach would be to make crypto knowledge more available, and Kaito's search engine might play a significant role in this. The company intends to make its search engine free to use, which is a wise step if they want to become the future Web3 version of Google.

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Time to rebuy Crypto? 

Given the current market volatility, many investors are questioning if it's time to purchase cryptocurrencies again. If searching for rapid profits, you should examine specific high-potential tokens, such as those sold in presale by promising up-and-coming crypto ventures.

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