Solana Labs Integrates ChatGPT Plugin To Fetch On-chain Data

Solana Labs Integrates ChatGPT Plugin To Fetch On-chain Data
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Solana Labs has just unveiled a ChatGPT plugin that will allow chatbot users to interact with the Solana blockchain (SOL), enabling users to check wallet balances, transfer tokens and purchase non-fungible tokens (NFT).

The explosive debut of OpenAI’s ChatGPT has created an enormous buzz over recent months. Various industries all across the world have already started to deploy ChatGPT into their business modules for improving customer service, boosting employee productivity, generating marketing leads, and acting as an overall valuable business support tool.

As a matter of fact, recent reports reveal that almost half of US companies have started using ChatGPT for commercial success. Recently, the world’s largest cryptocurrency exchange, Binance, deployed a ChatGPT-powered chatbot called Sensei, on its education platform, Binance Academy, to help users learn about crypto, blockchain, and Web3.

Solana Taps Artificial Intelligence

On April 26, Solana Labs took to Twitter to announce the open-source plugin that will allow users to check wallet balances, transfer tokens, and purchase NFTs from within ChatGPT. The new ChatGPT plugin will work by retrieving information from online sources and interacting with third-party websites to respond to commands requested by the user. In addition, the developer of the Solana blockchain also announced it will provide $1 million in funding for projects that build AI tools on the Solana network.

The Solana Foundation claims the blockchain’s high throughput and scalability will offer a unique opportunity to build new ideas using artificial intelligence. Furthermore, the company suggested the integration of blockchain technology and AI will help the organization improve and grow effectively.

Solana also shared a screenshot demonstrating that ChatGPT can retrieve a list of NFTs owned by a particular Solana address. Users can also ask ChatGPT to purchase Solana-based NFTs by specifying the price they are willing to pay.

How Can AI Help Crypto Adoption?

How Can AI Help Crypto Adoption?

Since its public release in November 2022, ChatGPT has become a worldwide phenomenon in a very short span of time. As per reports, it accumulated a whopping 100 million users in just over two months.

Similar to other industries, AI and crypto are trying to combine forces to benefit from each other. It seems ChatGPT can significantly lower barriers of entry to the cryptocurrency segment for blockchain developers, average users, and traders. In regards to developers, the chatbot can write software codes crucial for decentralized finance (DeFi), NFT use cases, running full nodes, checking blockchain status, and many others.

According to a recent report, FalconX, a blockchain and fintech company focused on cryptocurrency brokerage and digital asset trading platforms, is planning to bridge AI and crypto with a bot called “Satoshi”. The fintech firm plans to use the chatbot for offering various services including crypto education and provide generate investment ideas for users based on their historical trading activity.


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