On Tuesday, Binance launched a non-fungible token (NFT) generator that uses artificial intelligence (AI). ‘Bicasso’ is the name of the generator of the world’s largest crypto exchange and generated 10 thousand different NFTs in a matter of hours. Users can upload their own photos which the generator then uses to create an NFT.
BICASSO first pilot just completed with 10K NFT minted in 2.5 hours. The AI was a little stressed out, but caught its breath now. 😂 https://t.co/BBRevAdIUc
— CZ 🔶 Binance (@cz_binance) March 1, 2023
10 thousand NFTs in 2.5 hours
The test version of Bicasso was an immediate success. According to Binance CEO Changpeng ‘CZ’ Zhao, the generator needed to recover a bit after all the hard work.
“Bicasso’s first pilot just minted 10 thousand NFTs in 2.5 hours. The AI was a bit stressed, but it has already recovered.”
The first test version of Bicasso was not completely error-free. According to Binance the team will be hard at work on the servers to make it minting improve process.
“Our team is currently working on the server capabilities to reduce errors and make everything run more smoothly.”
Art generated by artificial intelligence has become very popular in a short time. Multiple trends swept the social media world where users generate AI images based on their own photos.
The renowned art auction house Christie’s also recognizes the value of this new form of art. On February 28, the auction house auctioned a Fidenza NFT for $440,000. The Fidenza NFT was computer generated.
Christie’s 20th/21st Century: London Evening Sale will feature @tylerxhobbs ‘Fidenza #724’. Channeling inspiration from art history and nature into innovative computer code, this extraordinary #generative artwork forms part of a collection of 999 #NFTs: https://t.co/coYy5wZZfm pic.twitter.com/boPj4Hf1eA
— Christie’s (@ChristiesInc) February 27, 2023
Artificial intelligence and crypto
Artificial intelligence also seems to be important for other facets of the crypto sector. AI is still in its infancy, but it is already proving to be of great value. The SingularityNET network on Cardano is an example of how AI services already function in practice.
It is not yet certain what the combination of AI and blockchain will look like. But it is clear that developments are moving very fast at the moment. It will therefore not be long before we have a clearer picture of how AI will play a role in the crypto sector.
