Bicasso - The AI powered NFT Generator
Binance Launched its AI-powered NFT generator tool called Bicasso on 1 March.
With Bicasso the users can use deion texts to generate NFTs.
Google Imagen, DALL.E2 of Open AI, and Stable Diffusion are other notable AI-powered platforms that generate digital artwork.
Since the Bicasso Beta Test was successful, Binance aims to perfect it to remove possible glitches.
Introduction
Artificial intelligence is making great inroads in the blockchain sector as it proves to be useful in various ways such as generation of NFTs. Likewise, it is now widely used in generating digital artworks. Today, we focus on how blockchains are capable of using artificial intelligence to generate non-fungible tokens (NFTs).
Bicasso AI-powered NFT Generator
On 1 March 2023, Binance crypto exchange introduced an artificial intelligent powered NFT generator tool in its NFT marketplace which functions in a similar way as Dawn AI and DALL-E. This unique tool can convert a few texts or user-profiles into non-fungible tokens within a short time.
Binance’s Bicasso has been introduced at a time when there is much frenzy in NFTs and AI generated art in web3. This technology enables many digital artists to venture into non-fungible tokens which can be highly valuable and unique.
Bicasso Beta test a huge success
The Bicasso Beta test was launched on 1 March 2023 and lasted for only 2.5 hours, a development that shows great demand for AI generative art. The mint data from the NFT platform shows that 9.909 users minted at least 1 NFT using this technology within the 2.5 hours. Binance had set a target of 10,000 free NFT mints.
The minting process commenced when Changpeng Zhao, the Binance CEO, popularly known as CZ, tweeted, “You can turn your creative visions into NFTs with AI. Give it a try and show me what you make with it.”
A few hours after that post many people participated in the free NFT minting process , reaching a cap of 10,000 within 2.5 hours. However, Zhao indicated that the AI NFT generator was somehow stressed during the minting process which indicated the need for urgent improvement. To that effect, he said, “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.”
It is worth to note that the NFTs which Bicasso AI tool generated are not yet on the market as they were just a part of a pilot project. Currently, the team is working on making the necessary improvements to prevent any minting hiccups in the future. That is the reason why the exchange stated, “Our team is currently working to increase the server’s abilities to reduce errors and to make the minting process smoother.”
How does Bicasso work?
Now, it is time to look at exactly how the Bicasso AI technology works. There are two main ways in which the artist can input the instructions to the Bicasso AI tool. First, he/she can upload a picture which he/she wants to turn into an NFT. However, that picture only acts as a clue to the tool to generate a non-fungible token.
AI in digital art - CryptoSlate
Second, the artist can input a rough deion of the kind of a non-fungible token he/she wants to generate. This is in line with what the Binance Exchange AI product page says: “Bicasso’s advanced AI technology allows you to easily paint your dream image. Just enter a deion of what you want to see – a ‘prompt’ (in English only), and watch as our Bicasso tool brings your ideas to life in seconds.”
AI generated Art continues to make strides in the market
Artificial intelligence (AI) technology in the art, crypto and NFT sectors became popular after the successful launch of the AI-powered chatbot, ChatGPT. Notably, we have also witnessed the success of AI powered blockchains and cryptocurrencies.
Blockchain developers have learnt much from this evolving technology to the extent of introducing the AI-powered NFT generators. With this technology, it is very possible and easy for algorithms to generate immaculate pictures using mere deive text.
This text-to-image synthesis technology is likely to bring a real revolution in the art, communication, advertisement and entertainment industries. Already, there are several web2 and web3 companies that are using this technology. Examples of these projects are Google Imagen, DALL.E2 of Open AI, Stable Diffusion by Stability, Ai Deepswap, Midjourney, NightCafe, Deep Dream Generator and DeepArt Neural Style.
It is important to note that all these AI powered platforms work in a similar manner. They use AI algorithms to generate various pieces of art that depend on the deion text you supply. Nevertheless, some of these pictures are abstract or surrealistic. Take for instance, a picture of a bee that is greeting an elephant. Although it is artistic and appealing, it is abstract.
How to buy artwork on Gate.io
As we have noted, the demand for artwork is high in our modern day. Encouragingly, anyone can purchase artwork from many platforms which include established crypto exchanges such as Gate.io. Let’s illustrate how you can buy artwork on Gate.io using cryptocurrencies.
As you may know, there are different pieces of art in the form of NFTs at Gate.io centralized crypto exchange. In order to purchase artwork you go to the Gate.io NFT marketplace called Magic Box. You will see various pieces of artwork in the form of NFTs. Remember that you can choose to purchase the artwork using the auction or fixed price .
The first step is to click on the artwork (NFT) you want to buy so you get its full details. If you are happy with the set price you click “Purchase.”
From there, you click “Are You Sure to Purchase.”
If the purchase is successful, the payment will be deducted from your spot account.
Conclusion
The Beta Test for Bicasso AI-powered NFT Generator, launched on 1 March 2023 was a success. 9, 909 users were able to mint a total of 10,000 NFTs within 2.5 hours. Now, the developers are working to improve the technology to avoid any glitches that can occur during future minting stints.
