At the intersection of art, artificial intelligence (AI), and the world of cryptocurrency, a new meme coin named Turbo has emerged, reaching a market cap of nearly $50 billion USD just days after its launch. The innovative project is the brainchild of digital artist Rhett Mankind, who used ChatGPT and a modest budget of $69 to create the coin. Initially intended as a joke, Turbo has since developed a community, found utility, and transformed into a form of performative art that mirrors the current state of the crypto and NFT markets.
Rhett Mankind began developing Turbo on April 24, consulting ChatGPT to “make the next great meme coin.” In a YouTube video discussing the creation process, Mankind revealed that one of the initial challenges was ChatGPT’s limited knowledge on meme coins, which only extended to Dodgecoin and Shiba Inu, with the data being based on the bull market rather than the “dead” market currently experienced. To overcome this, Mankind introduced the chatbot to Pepe, Wojak, and Suka, educating it on their tokenomics and community-building techniques.
I gave GPT-4 a budget of $69 and asked it to make the next great meme coin.
I will follow all instructions it gives me and document the process here.
Follow and participate 👇 pic.twitter.com/bBxkxkg7eS
— Rhett Mankind (@rhett) April 23, 2023
Another obstacle Mankind faced was the coding aspects of launching a token. Despite having no coding experience, he collaborated with the chatbot to develop the solidity aspect of the token. Within a single day, the coin’s concept, tokenomics, white paper, and 75% of the smart contract were completed. Mankind also engaged his community of over 14,000 followers, involving them in decision-making through Twitter polls when the AI couldn’t reach a definitive choice. This community-driven approach was utilized for various tasks, including auditing code and determining the token’s brand identity.
TurboToadToken – GPT-4 described the mascot, affectionately known as Quantum Leap, as a futuristic toad. I merged this with top 4 styles on Midjourney. Which do we go with? pic.twitter.com/6I9940exlb
— Rhett Mankind (@rhett) April 24, 2023
Mankind shared his surprise at Turbo’s successful launch on May 1, describing it as “quite the performance art.” In his YouTube video, he explained that the current crypto art market has been “absolutely dead” for digital art sales, prompting him to connect Turbo with the digital art realm and use it as a utility token to drive sales. On May 3, Mankind launched an NFT titled ‘A SMALL YELLOW TOAD IN A SPACE HELMET‘ via manifold, priced at one Turbo. He announced that Turbo is now supported on Manifold, enabling artists on the platform to buy and sell using the token. This has led to the listing of various works, many of which can be found in the comments of the initial post.
Whether Turbo achieves the same household recognition as Dodge or Shiba Inu, its existence on the blockchain will serve as a testament to the current market state and an exemplary demonstration of what can be accomplished when ambition, technology, and community converge.