Digital Artist Creates Memecoin Valued at $50 Million

• Digital Artist Rhett “Mankind” developed the memecoin TURBO with a budget of $69.
• The memecoin’s website and promotional strategy were generated using ChatGPT-4.

The launch of $TURBO represents a success story within the Web3 space. This is how the meme cryptocurrency was established by digital artist Mankind, with assistance from ChatGPT, despite having no coding background.

As detailed in a Twitter thread, Mankind (also known as Rhett Dashwood) created the coin with a budget of $69, leveraging the capabilities of OpenAI’s largest language model.

Beginning from scratch

The artist initiated the process with ChatGPT-4 and a budget of $69. His request was straightforward: “to create the next great meme coin.”

“I’ve been involved in crypto art for several years, and this year has been particularly challenging for selling digital art,” Mankind stated in a YouTube video discussing his motivations.

“I’ve been facing difficulties in attracting attention to my work,” Mankind continued. “This prompted me to consider that, with no buyers and a stagnant market, this is the ideal time to experiment and enjoy the process.”

Nansen Art-20 NFT Index (Source: Nansen)

The first task ChatGPT assigned to Mankind was to conceptualize the potential coin. This included creating a name, an engaging backstory, and a logo. Mankind then sought additional guidance from ChatGPT to generate this name and explore other possibilities within his budget.

To facilitate this, Mankind chose to involve his Twitter followers in the decision-making process. Engaging his 14k Twitter followers, he presented them with four options from GPT’s suggested list of ten meme coin names – HypeHound, AstroCorgi, FomoFeline, and TurboToad – with TurboToad being the favored choice.

With the coin’s mascot name established as Quantum Leap, Mankind utilized Midjourney, aided by ChatGPT, to create the logo. To finalize the mascot image, he asked his Twitter followers to choose from various options, ultimately selecting an appealing, Pixar-like illustration of a yellow-orange toad in a spacesuit.

TurboToad won the poll. I inquired if TurboToad had a name and what to describe in MidJourney or Stable Diffusion AI.

— Rhett Mankind (@rhett) April 24, 2023

“TurboToadToken – GPT-4 characterized the mascot, affectionately referred to as Quantum Leap, as a futuristic toad. I combined this with the top four styles on Midjourney,” he noted.

The second step involved establishing a tokenomics framework. “It provided insights based on 2021 (as that is the latest data it has), so I offered examples of recent tokenomics like pepe, wojak, and tsuka.”

The third step was to create a one-page whitepaper. The fourth step was to write the code, “after extensive revisions, I believe we have a very basic contract,” during which Mankind identified issues related to maximum transfer limits (anti-whale mechanism), for which he again consulted his Twitter audience for solutions.

Following this, Mankind required assistance in auditing the solidity smart contract, which he again crowd-sourced from the community of Twitter followers he had gathered.

Mankind then directed ChatGPT to develop a basic website and marketing strategy for the token. Currently, the Turbo Toad Token Twitter account has 9,147 followers and a market cap of $50 million.

“Born from a creative idea: ChatGPT-4 guided the journey to establish the next generation memecoin.” This illustrates that with a simple idea, some entrepreneurial drive, and an engaged community, anything is achievable in the dynamic realm of Web3.

Is Memecoin TURBO Bullish or Bearish?

The memecoin, Turbo (TURBO), which was created by AI and features a futuristic toad mascot, made a significant impact overnight, accumulating over $7 million in trading volume within 24 hours. This innovative memecoin is now attracting attention as a trendsetter in the memecoin sector.

TURBO/USD Price Chart (Source: TradingView)

One Twitter user @DGMD22 expressed optimism on May 2, stating, “the community is incredible because it was initiated by @rhett, an established digital artist in our field, not some scam developer in the background. This one is easy to HODL.”

The TURBO ecosystem has implemented a unique tokenomics model that emphasizes fair and prosperous distribution. It is notable for its tax-free structure, a community-funded launch, equitable distribution, and a renounced contract.

At present, TURBO is gaining considerable momentum and has been praised for its strong memecoin narrative, which competes with that of PEPE. While some suggest it may even surpass PEPE in terms of mass adoption potential, this assertion remains a topic of debate.