Binance, one of the world’s top cryptocurrency exchanges, has launched Bicasso, an AI-powered platform for generating Non-Fungible Tokens (NFTs). The move comes amid growing hype around artificial intelligence and crypto tokens.
Binance enters the AI-NFT market
According to Binance CEO CZ, the Bicasso NFT generator uses user inputs, an image, and a prompt to create an AI-generated NFT.
Following the Bicasso beta launch announcement, users flocked to the platform, leading to long wait times due to heavy traffic. CZ acknowledged that the AI was overloaded and would improve later with fewer requests. There are only 10,000 free NFTs available in the beta edition of Bicasso.
ChatGPT setting the trend
With the recent adoption of ChatGPT, companies are rethinking resource management strategies, and AI-based NFT creation could lead to new use cases.
The crypto community is excited about the increasing integration of AI technology with the web 3.0 world. While many are happy with the new fun tool on NFTs, some expect more innovation from top crypto companies like Binance.
EnczCrypto, a cryptocurrency enthusiast, expected Binance to offer a more cutting-edge platform. The fan claimed that given the class of CZ’s organization, he had perhaps anticipated something more creative. He finished by pointing out that Web3 and AI are still in their beginnings.
AI looks good on NFTs
In a related development, XANA, an Ethereum sidechain custom-built for the Metaverse, had previously unveiled the first AI-powered NFT collection in the virtual realm. The collection includes 10,000 unique avatars with a Japanese anime look, which could serve as customized AI allies across the metaverse. The NFT collection was created in response to the demand for personalized avatars for the metaverse and was inspired by Blade Runner 2049.
As AI-powered creative creation gains traction, NFTs based on AI will likely evolve as the metaverse becomes more mainstream. Online collections like XANA and Binance have received praise from their considerable Twitter followers.
Every NFT is a unique digital file stored on a blockchain. An AI NFT’s smart contract often includes a Generative Pre-Trained Transformer 3 (GPT-3) language model prompt. This type of NFT has intelligence and many other newly developing generative skills, such as animation and interaction. Integrating AI capabilities into NFTs represents a new technical horizon encompassing many more qualifications.
