Binance, the world’s largest crypto exchange by trading volume, has launched a new non-fungible token (NFT) generator platform infused with artificial intelligence (AI).
Called Bicasso, the AI-centric product is now in beta version and was limited to 10,000 mints.
The platform allows users to enter descriptive prompts for the AI to leverage, and upload pictures of people, animals, or landscapes to mix in with the photo creations. The AI generator can create unique images that users can then mint as NFTs on Binance’s native BNB chain.
Binance CEO Changpeng Zhao said on Twitter that users could “turn your creative visions into NFTs with AI. Give it a try and show me what you make with it.”
Nearly 3,300 users have minted at least one Bicasso NFT, and the initial free mint is capped at 10,000 NFTs. The limited beta version of Bicasso reached the 10,000 NFT mint cap in just 2.5 hours after launch.
Conversations around NFTs and AI have been on the rise in the past year, as generative NFT art technology continues to push into Web3. Last year, generative art NFT collections weathered crypto winter with high prices and increasing trading volumes.
Since Binance announced the new AI-focused NFT maker, the product test is now closed, and users who are interested in using Binance’s Bicasso product can join a waitlist.
Binance acknowledges that there were a few glitches due to demand and the team is working to increase the server’s abilities to reduce errors and make the minting process smoother.
Several AI-infused art programs similar to Bicasso have been popular, such as Nightcafe, DALL-E, and Mid Journey. Binance’s Bicasso NFT platform marks an exciting development in this space, and crypto enthusiasts are looking forward to seeing how Binance will develop the platform further.
The use of AI in NFTs has been a hot topic in the past year. It is said that AI-generated art may be the next big thing in the art world. It’s easy to imagine a future where most artwork is created using machine learning algorithms.
As AI capabilities continue to advance, it’s expected that NFTs that leverage AI in their creation will become even more popular. The intersection of AI and NFTs marks an exciting time for the art world, and Binance’s Bicasso platform is at the forefront of this development.
As the NFT market continues to gain popularity, the addition of AI-powered tools like Bicasso could revolutionize the way people create and interact with digital art. By leveraging AI algorithms, Bicasso can generate unique and personalized artwork in a matter of seconds, providing a new level of accessibility for aspiring artists.
However, some in the crypto community have expressed concerns about the potential risks associated with AI-generated NFTs. There is a fear that the lack of human involvement in the creation process could lead to a flood of low-quality, algorithm-generated art flooding the market and diluting the value of genuine works of art.
Despite these concerns, Bicasso’s early success suggests that there is a strong appetite for AI-powered NFT tools. As the platform continues to evolve, it will be interesting to see how Binance and other players in the NFT space incorporate AI into their offerings and how this will impact the future of digital art.
Bicasso represents an exciting new development in the NFT space and one that could have far-reaching implications for the future of digital art. As the platform continues to grow and evolve, it will be interesting to see how artists and collectors alike respond to this new era of AI-generated NFTs.
For now, though, the limited beta run of Bicasso has already generated significant buzz, and it is clear that this innovative platform is one to watch in the coming months and years.