Binance Newly Launched AI-Powered NFT Generator Mints 10,000 NFTs Under 3 Hours

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Over the past months, arti­fi­cial intel­li­gence (AI) has been the new trend fol­low­ing the mas­sive blow-up of the AI-pow­ered chat­bot, Chat­G­PT. The bot has cre­at­ed a great spot­light for the AI indus­try allow­ing most AI-relat­ed prod­ucts to blow up almost imme­di­ate­ly after launch.

Fol­low­ing the ubiq­ui­tous trend of Dawn AI, anoth­er arti­fi­cial intel­li­gence-pow­ered prod­uct that helps cre­ates gen­er­a­tive art, Binance, the indus­try-lead­ing cryp­to exchange has now pushed for the launch of its first-ever AI-pow­ered prod­uct called Bicasso. 

A Brief Run Down On Bicasso 

Launched on March 1, Bicas­so is Binance’s lat­est launch focused on arti­fi­cial intel­li­gence. The lat­est prod­uct is an AI-pow­ered non-fun­gi­ble token (NFT) gen­er­a­tor tool sim­i­lar to pop­u­lar image-gen­er­at­ing art plat­forms such as Dawn AI, DALL‑E, and others. 

Bicas­so works by allow­ing users to either upload or sub­mit an image such as a pro­file pic­ture or type in cre­ative prompts that will gen­er­ate an attrac­tive cus­tomized image cre­at­ed with AI. 

“With Bicas­so, you can gen­er­ate your cre­ative visions using the Binance AI tool and turn them into NFTs with just a few clicks,” said Binance on the company’s new AI prod­uct page

The cryp­to exchange added: “Bicasso’s advanced AI tech­nol­o­gy allows you to eas­i­ly paint your dream image. Just enter a descrip­tion of what you want to see – a ‘prompt’ (in Eng­lish only), and watch as our Bicas­so tool brings your ideas to life in seconds.”

Bicasso Hits 10,000 Mints Under 3 Hours Of Launch

On Wednes­day, Binance CEO Chang­peng Zhao also known as ‘CZ’ announced Bicas­so via its Twit­ter account. CZ tweet­ed, “You can turn your cre­ative visions into NFTs with AI. Give it a try and show me what you make with it.” Hours lat­er, Bicas­so was seen rolling out dig­i­tal art at full capac­i­ty reach­ing a cap of 10,000 NFT mint­ed in two-and-a-half hours after launch.

Fol­low­ing up on its pre­vi­ous tweet after a cou­ple of hours CZ tweet­ed com­mend­ing Bicasso’s rapid churn­ing out of 10,000 NFTs with­in hours of launch. He not­ed, “BICASSO’s first pilot just com­plet­ed with 10K NFT mint­ed in 2.5 hours. The AI was a lit­tle stressed out but caught its breath now.”

Accord­ing to data from Binance’s Bicas­so AI pilot mint page, about 9,909 Bicas­so NFT own­ers mint­ed at least one NFT giv­en the generator’s lim­it­ed beta. Notably, the images gen­er­at­ed by Bicas­so are yet to be avail­able for sale as the gen­er­a­tive NFTs were only part of the product’s pilot. 

Though Bicas­so was able to churn out 10,000 NFTs with­in hours, Binance did acknowl­edge a hic­cup with the new­ly launched AI prod­uct due to high demand. The exchange stat­ed, “Our team is cur­rent­ly work­ing to increase the server’s abil­i­ties to reduce errors and to make the mint­ing process smoother.” Adding that, those who missed out on the beta quo­ta of 10,000 NFTs can still sign up for the wait­list for the full version.

Relat­ed Read­ing: Gen­er­a­tive Art and the Future —— NFT Dig­i­tal Art Spe­cial Auc­tion by Poly Beijing

So far, the NFT mar­ket has evolved so much as an ecosys­tem in sev­er­al aspects, with AI-pow­ered NFTs being one of them. Accord­ing to Coin­m­mar­ket­cap, the NFT mar­ket cap cur­rent­ly sits above $615 mil­lion with a 24-hour sales vol­ume of $96.7 mil­lion in the past 24 hours. 

While this vol­ume is con­sid­ered high com­pared to late last year’s vol­ume of below $80 mil­lion, it is still way below its all-time peak of $48.6 billion.

Binance coin (BNB) price chart on TradingView
Binance coin (BNB) price is mov­ing side­ways on the 4‑hour chart. Source: BNB/USDT on TradingView.com

Fur­ther­more, just like the glob­al NFT sales vol­ume, Binance coin native token BNB has also been in a bull­ish trend over the past month up by over 30% since the begin­ning of the year after a notable plum­met last year. BNB cur­rent­ly trades at $299, down 1.3% in the past 24 hours, at the time of writing.

Fea­tured image from Bicas­so, Chart from TradingView



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