On Mar. 1, Binance, the world’s largest crypto exchange, launched an AI-powered nonfungible token (NFT) generator called “Bicasso” in beta. Binance CEO Changpeng Zhao told users “you can turn your creative visions into NFTs with AI,” and the system proved to be a success. Just 2.5 hours after launch, the AI-powered NFT generator had already reached its cap of 10,000 NFT mints.
Bicasso is an AI-powered image-generation tool similar to AI-art platforms such as DALL-E. Users can either upload an image such as a profile picture for the AI to work on, or can type in creative prompts that will generate a bespoke image created with AI. Users can then mint their images as NFTs on Binance’s native BNBchain.
The launch of the Bicasso platform was met with great enthusiasm, with users eager to share their creations on crypto Twitter. Initial mint data showed that 9,909 owners created at least one NFT as part of the limited beta, and the images were part of the pilot so are not available for resale.
Binance acknowledged that due to the high demand, there were a few glitches with the system, but the team is working to increase the server abilities to reduce errors and to make the minting process smoother. Those that missed out on the 10K beta quota can still sign up for the waitlist for the full version.
Generative art is a new archetype in the art world that in whole or in part has been created with the use of an autonomous system. On Feb. 28, renowned auction house Christie’s auctioned Taylor Hobbs’ “Fidenza #724”, an NFT created with a computer algorithm, for $440,000. In August, Google Cloud AI transformed all 10,000 Bored Ape Yacht Club NFTs into machine-made works of art.
The launch of Binance’s AI-powered NFT generator has been a success and has seen great enthusiasm from users. It is a great example of the potential of AI-powered art, and how it can be used to create unique and bespoke digital art. As the technology continues to develop, we are likely to see more and more AI-generated art being created and sold.
The potential of AI-generated art is immense, and it is exciting to see what the future holds. We can expect to see more and more AI-generated art being used in the future, as the technology continues to advance. The launch of the Bicasso platform is an exciting development in the world of digital art, and it will be interesting to see how this technology is used in the future.
