One of the biggest cryptocurrency exchanges in the world, Binance, has announced the beta release of “Bicasso,” an NFT generator powered by AI.
Users can utilise AI to convert words and images into digital assets with the aid of this technology.
Artificial intelligence (AI) has become more popular since the release of ChatGPT, an AI-powered chatbot. AI tools will be incorporated into other tech businesses’ goods.
Changpeng Zhao, the CEO of Binance, introduced Bicasso on Twitter. “AI can turn your innovative notions into NFTs,” Changpeng tweeted. “Show me what you make.” Only hours after introducing the AI-powered NFT generator, he added, “Bicasso’s first pilot just completed with 10K NFT minted in 2.5 hours.” “The AI breathed after being stressed.”
Read also: Nelson Mandela’s Arrest Warrant NFT, Bags $130,000 on Momint
Bicasso NFT generator powered by Binance AI
The newest and first AI-powered product from Binance is called Bicasso. It is a non-fungible token (NFT) generator tool comparable to well-known platforms for producing works of art from images, such as DALL-E, Dawn AI, etc. Users of Bicasso can submit or upload an image, such as their profile photo, or enter creative instructions to have AI create a cute personalized image for them.
With Bicasso, you may produce your creative visions using the Binance AI tool and turn them into NFTs with just a few clicks, according to a blog post on Binance’s official website.
“Bicasso’s advanced AI technology allows you to simply paint your fantasy image,” the exchange said. Just add a prompt (in English) and watch as our Bicasso tool brings your thoughts to life in seconds.
Because of the generator’s restricted beta, 9,909 Bicasso NFT owners minted at least one NFT, according to Binance’s Bicasso AI pilot mint page statistics.
The generative NFTs were only part of Bicasso’s pilot. Hence its images have yet to be sold. Due to tremendous demand, Bicasso produced 10,000 NFTs in hours, although Binance acknowledged a glitch with the new AI product.
“Our team is presently trying to strengthen the server’s abilities to eliminate faults and make the minting process more streamlined,” the exchange said. Additionally, individuals who didn’t get on the beta’s 10,000 NFT cap can still join the queue for the final version.
Artificial intelligence in the NFT technology
The ecosystem of the NFT tech sector has gone through various experimental phases over the past couple of years, with AI-powered NFTs being one of the most noteworthy innovations. According to CoinMarketCap, the NFT market cap currently stands at $615 million, with a $96.7 million 24-hour sales volume.
Even though this volume appears to be significantly bigger than the last one recorded, it is still a long way off from the biggest the market has ever seen, which was an all-time high of $48.6 billion. It’s possible that the launch of an NFT generator powered by AI will be a crucial factor in the market reaching its full potential. Who knows? Only time will tell.