Bicasso Launched By Binance Initiated A Competitive Race On AI

Key Points:

• After the phenomenon-level application of ChatGPT opened up the AI application market space, innovative artificial intelligence has become a popular trend today. Bicasso, an AI platform of Binance, was also born with the above purpose.
• In addition, there are many other platforms in the crypto market that are also focusing on integrating AI into their applications.
• Cryptocurrency-related AI projects are also on their way to being able to compete in this field, or in other words, turn it into a solid trend like NFT or Web3.

Binance announced the beta release of the AI-driven NFT generator “Bicasso” on March 1. Users may submit images and provide keywords to produce NFTs using AI computations. The 10,000 NFT casting cap was destroyed seconds after the news was announced, and the system was overwhelmed and shut down owing to the rush of traffic, demonstrating its popularity.

Indeed, generative artificial intelligence has become a popular trend since the phenomenon-level application ChatGPT opened up the AI application market sector. What are other encryption platforms outside Bicasso focused on generative AI?

What is Bicasso?

Binance, the world’s largest cryptocurrency exchange, created Bicasso, an AI art creator. The seamless NFT minting capability of Bicasso sets it apart from other AI art producers. Thus, once you’ve finished your masterpiece, you can mint it as an NFT and commercialize it. Formerly, creating art and minting it as an NFT were two separate operations that required two different platforms and a lot of time.

The 10,000 NFT casting limit was canceled in 2.5 hours after being accused of plagiarizing ideas

The name Bicasso is reminiscent of the renowned Spanish artist Picasso. Yet, unlike Picasso, the formerly created work with skill and time, while Bicasso allows users to accomplish NFT art creation without boundary in a few seconds, which seems to fulfill what German artist Joseph Beuys declared “everyone is an artist.”

Bicasso users make unique photos by inputting English language ideas, similar to DALL-E or Midjourney, and may also upload photographs of humans, animals, landscapes, and so on to automatically generate pictures. The platform will create four distinct photos for users to choose from, and the chosen images will be minted into NFTs via Binance Chain (BNB Chain).

Though the initial free minting limit is 10,000 NFTs, and each user may only mint one NFT, a huge number of users engaged following the introduction of the Bicasso beta version, and a total of 9,907 people successfully minted.

“BICASSO first pilot just completed with 10K NFT minted in 2.5 hours. The AI was a little stressed out, but caught its breathe now.” Changpeng Zhao, the founder of Binance, stated on Twitter.

Because of this excellent launch, many people are applauding CZ as a marketing genius. He created fake demand by limiting the mint to only 10,000 coins, and the snag merely resulted in more impressions online and more people learning about it.

Although Bicasso has only released the beta version for the time being, people can apply to join the waiting list (Waitlist) and await the release of the official version.

It’s worth noting that “project7,” the co-founder of the Web3 builders guild project Hunt Town, and its team member “ggoma,” accused Bicasso of stealing the concepts it presented at the BNB Chain Hackathon on March 2.

Project7 tweeted at the time that it would be extremely fascinating to integrate OpenAI into NFT tools, so the Chatcasso project he created overnight simply input language, and AI will draw a painting. This is a program that can draw graphics, construct collections, and even mint interfaces. Binance has not yet commented on this.

An overview of NFT initiatives focusing on generative AI

Content-generative AI, one of the most powerful artificial intelligence systems, can generate new content from existing text, audio files, or pictures. In recent years, generative AI has experienced rapid progress. After the success of OpenAI’s chatbot ChatGPT, we have seen a huge number of analogous models in other sectors migrate from the laboratory to numerous application situations in the real world.

Gartner, a well-known technology consulting firm, has revealed its most promising technology forecast list for 2022, which includes twelve technologies, with generative AI ranking first. According to a16z, the generative AI platform will be the next consumer-level platform:

“Generative AI solutions will serve a wide range of use cases, from consumers creating content “simply for fun” to producers or individual entrepreneurs selling content.”

Which crypto projects are currently building content-generating AI narratives?

Solvo

Solvo, a crypto company, revealed in February that it will deploy generative AI technology. Users can produce and design their own NFTs by uploading or taking photographs of what they desire, or by typing images that explain what they want. On the Optimism chain, Solvo may now mint AI-generated NFTs for free. Users will be able to deposit and withdraw this and other NFTs in future editions.

Nicho

Nicho, an NFT platform built on BNB Chain, has implemented a new AI Picture Generator feature on the main network. This capability lets users describe any thoughts in language and will automatically produce drawings straight using strong AI algorithms, allowing users to design their own NFT in the simplest method possible without any painting abilities.

IgmnAI

The project for AI image creation The core product of IgmnAI is Nai, an AI picture-generating bot that allows Discord and Telegram users to make artwork using simple text instructions. IgmnAI is looking to fund $7.5 million at a valuation of $50 million.

CharacterGPT

CharacterGPT, a multi-modal generative artificial intelligence system developed by Alethea AI, will let anybody instantly build, train, and trade AI characters as NFTs on Polygon.

Conclusion

With the release of Bicasso, one thing is clear: NFTs and AI have a powerful hold on public attention today. ChatGPT and Bard have already been able to not only pass human certificates and degrees but also to replace specific occupations.

Everyone would have expected that the first occupations to be affected by AI would be technical and analytical ones a few years ago. Surprisingly, the creatives are suddenly being challenged – by something that does not weary or procrastinate. Bicasso is one step closer to a future in which we don’t know where humans fit.

In addition, AI projects tied to crypto are also on the way to being able to compete in this field, or in other words, make it a solid trend like NFT or Web3. Whether these projects are potential for investors or are just a temporary bubble, we still have to wait a while to answer this question.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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