Binance’s newly launched artificial intelligence-powered nonfungible token generator has been churning out digital art at full capacity, reaching a cap of 10,000 NFT mints in just 2.5 hours after launch.
On March 1, the world’s largest crypto exchange Binance launched an AI-powered NFT generator called “Bicasso” in beta.
Binance CEO Changpeng Zhao told users “you can turn your creative visions into NFTs with AI,” following it up a couple of hours later with a tweet saying “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.”
The system is an AI-powered image-generation tool similar to AI-art platforms such as DALL-E. Users can either upload an image such as a profile picture for the AI to work on, or type creative prompts that will generate a bespoke image created with AI.
According to initial mint data, 9,909 owners created at least one NFT as part of the limited beta. The images were part of the pilot so are not available for resale.
Users were eager to share their creations on Crypto Twitter.
Following the pilot launch Binance acknowledged there were a few glitches due to demand, stating:
“Our team is currently working to increase the server abilities to reduce errors and to make the minting process smoother.”
It added that those that missed out on the 10K beta quota can still sign up for the waitlist for the full version.
At the time of writing, “Bicasso AI#10445” was the most recently minted NFT, according to the platform.
Generative art is a new archetype in the art world, having in whole or in part been created through the use of an autonomous system. On Feb. 28, renowned auction house Christie’s auctioned Taylor Hobbs’ “Fidenza #724”, an NFT created with a computer algorithm, for $440,000.
In August, Google Cloud AI transformed all 10,000 Bored Ape Yacht Club NFTs into machine-made works of art.