Behind the success of Bicasso launched by Binance, which other NFT projects are unfolding generative AI narratives?

Original Title: "Behind the Popularity of Bicasso Launched by Binance, What Other NFT Projects Are Unfolding Generative AI Narratives?"

Original Author: Nancy, PANews

On March 1, Binance announced the release of the AI-driven NFT generator beta version "Bicasso," allowing users to generate NFTs by uploading images and entering keywords for AI processing. Once the news was released, the 10,000 NFT minting quota was sold out in seconds, and the system crashed due to a surge in traffic, highlighting its popularity.

In fact, after the phenomenal application ChatGap opened up the AI application market space, generative artificial intelligence has become a current trend. Besides Bicasso, what other platforms in the crypto market are focusing on generative AI?

10,000 NFT Minting Quota Sold Out in 2.5 Hours, Accused of Plagiarizing Ideas

The name Bicasso inevitably evokes thoughts of the famous Spanish artist Picasso. However, unlike Picasso, who completed a work through talent and time, Bicasso allows users to create NFT art in seconds without barriers, seemingly realizing the era described by German artist Joseph Beuys, where "everyone is an artist."

Similar to AI art generators like DALL-E or Midjourney, Bicasso users can generate unique images by inputting creative English text, or they can upload images of people, animals, landscapes, etc., to automatically generate pictures. The platform generates four different images for users to choose from, which can then be minted as NFTs on the Binance Chain (BNB Chain).

Due to the initial free minting limit of 10,000 NFTs, with each user allowed to mint only one, the Bicasso beta version attracted a large number of participants, with 9,907 users successfully minting. "Bicasso's first test just successfully minted 10k NFTs in 2.5 hours. AI is a bit stressed, but now it can take a breath," Binance founder CZ stated on Twitter.

Although Bicasso is currently only in beta, users can apply to join the waitlist for the official version.

It is worth mentioning that "project7," co-founder of the Web3 builder guild project Hunt Town, and his team member "ggoma" tweeted on March 2 accusing Bicasso of stealing their ideas presented at the BNB Chain hackathon. At that time, project7 tweeted that applying OpenAI to NFT tools would be very interesting, so he quickly created the Chatcasso project, which allows users to generate a painting simply by inputting text. This is a tool that can draw images, publish collections, and even create minting interfaces. Currently, Binance has not responded to this.

Overview of NFT Projects Focusing on Generative AI

As one of the most advanced artificial intelligence algorithms, generative AI can create new content using existing text, audio files, or images. In recent years, generative AI has seen explosive growth. After the chatbot ChatGPT created by OpenAI went viral, we have seen a large number of related models moving from the laboratory to various real-world application scenarios across industries. A report released by the renowned technology consulting firm Gartner listed twelve promising technologies in 2022, with generative AI ranking first.

"Generative AI products will serve a variety of use cases, from consumers creating content 'just for fun' to creators or individual entrepreneurs profiting from content," a16z pointed out in an article, stating that generative AI platforms will become the next consumer-grade platform. Currently, what crypto projects are developing generative AI narratives?

Solvo

In February of this year, the crypto startup Solvo announced that it would use generative AI technology, allowing users to generate their own NFTs by designing them through uploads or photos, or by inputting descriptions of the images they want. Currently, Solvo allows free minting of AI-generated NFTs on the Optimism chain. In future versions, users will be able to deposit and withdraw this NFT and other NFTs.

Nicho

Recently, the NFT platform Nicho, based on the BNB Chain, has deployed a new feature called AI Image Generator on its mainnet, allowing users to express any idea in words, which will automatically generate images through powerful AI algorithms, helping users mint their NFTs in the simplest way without any drawing skills.

IgmnAI

The AI image generation project IgmnAI's main product, Nai, is an AI image generation bot that allows Discord and Telegram users to generate artworks through simple text commands. IgmnAI is seeking to raise $7.5 million at a $50 million valuation.

CharacterGPT

The research studio Alethea AI has developed a multimodal generative AI system called CharacterGPT, which will allow anyone to quickly create, train, and trade AI characters as NFTs on Polygon.