Binance’s newly released artificial intelligence-powered nonfungible token (NFT) generator, Bicasso, has started producing digital art at full capacity, exceeding a cap of 10,000 NFT mints in just 2.5 hours after its debut.
Binance, the world’s largest crypto exchange, unveiled an AI-powered NFT generator called “Bicasso” in beta on March 1.
Binance CEO Changpeng Zhao told followers “you can turn your creative concepts into NFTs using AI,” followed it up a couple of hours later with “Bicasso first pilot just finished with 10K NFT minted in 2.5 hours. The AI seemed a little tense, but it had finally caught its [breath].”
The system is an image-generation tool powered by AI, similar to AI-art platforms such as DALL-E. Users can either upload an image for the AI to work on, such as a profile photo, or fill in creative suggestions to get a bespoke image made with AI.
According to preliminary mint data, 9,909 owners created at least one NFT during the limited beta period. Because the photographs were created as part of the pilot, they are not for sale.
During the pilot launch, Binance admitted that there were a few hiccups due to high demand, stating:
“Our team is currently working to increase the server abilities to reduce errors and to make the minting process smoother.”
Those who missed out on the 10K beta limit can still sign up for the full version’s waitlist.
According to the site, the most current NFT, “Bicasso AI#10445,” was created just an hour ago.
Generative art is a new paradigm in the art world that was generated entirely or partially using an autonomous system. Taylor Hobbs’ “Fidenza #724”, an NFT made with a computer program, was auctioned off for $440,000 on February 28 at Christie’s.
Google Cloud AI turned all 10,000 Bored Ape Yacht Club NFTs into machine-made works of art in August.
