AI-powered chatbot can explain crypto, update users about spot bitcoin ETFs and swaps

Web3 product development startup Pontem is launching an AI-powered chatbot that will seek to help people better understand the world of crypto, including spot bitcoin ETFs.

"The basic ChatGPT model doesn’t know what happened in crypto after September 2021, so any AI crypto project requires a lot of additional training," said Pontem co-founder Alejo Pinto. 

The new chatbot, which the company says will be compatible with MetaMask, X, Facebook, Gmail and major Aptos wallets, aims to provide people with effective and up-to-date information on several crypto-centric subjects like “how to swap, stake, bridge, buy NFTs, use yield farming,” plus insight into Aptos blockchain and Move programming language. 

The startup — which already possesses a long list of crypto-focused investors like Faction, Lightspeed Venture Partners, Pantera Capital, Aptos Foundation, Wintermute, Altonomy, Shima Capital and Kraken Ventures — has been focused on encouraging developers to build apps that are both Ethereum Virtual Machine and Move-compatible.

Earlier this month, Pontem announced it had raised $6 million, bringing total funding to $10.5 million.

Built to help with trading

With the new chatbot, Pontem is attempting to position itself as a reliable resource for both those who recently became interested in crypto and traders committed to following the twists and turns of the sometimes volatile market.

"We’re using a mix of curated data that includes Pontem's own content, on-chain data, content by Aptos Foundation and top blockchain projects that cover Move, Ethereum DeFi, and more," said Pinto.

"By continuously testing the model through feeding it new data loops, we feel we have created a valuable up-to-date resource for the industry," he also said.

While Pontem admits there are other available options for chatbots, the company's team believes its product offers a wider range of capabilities than its competitors while providing the data typically coveted by crypto traders, like speedy updates on breaking news, price changes and on-chain metrics. 

Disclaimer: Evgeny Gaevoy, the founder and CEO of Wintermute, previously sat on The Block's board of directors from April 2023 to early November 2023 and remains a minority shareholder.