On March 1st, Binance, the world’s largest cryptocurrency exchange, launched an AI-powered non-fungible token (NFT) generator called “Bicasso” in beta. This new system allows users to generate digital art from either an uploaded image or a creative prompt, utilizing AI to create bespoke images.
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. 😂 https://t.co/BBRevAdIUc
— CZ 🔶 Binance (@cz_binance) March 1, 2023
Within just 2.5 hours of its launch, Bicasso reached its 10,000 NFT mint capacity, generated by 9,909 owners as part of the limited beta. Following the pilot launch, Binance reported a few glitches due to high demand, stating that their team is working to increase server abilities to reduce errors and make the minting process smoother. The most recent NFT generated, “Bicasso AI#10445,” was minted an hour ago.
Users were eager to share their creations on crypto Twitter.
#Bicasso is a new AI-powered NFT generator that Binance released in beta on Wednesday. It allows users to create NFTs by typing in a creative prompt or uploading an image. Users can then mint their images as NFTs on Binance’s native BNBchain. Do you want to try it out? pic.twitter.com/3hDy2Ife5Z
— Yuki Eliot (@yuki_binance) March 1, 2023
The rise of generative art, which has been partially or wholly created with an autonomous system, is a new archetype in the art world. Notably, 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.
Bicasso is a significant addition to the growing trend of AI-powered art, demonstrating the technology’s potential to disrupt traditional creative industries. The system’s ability to generate 10,000 NFTs in a matter of hours underscores the demand for AI-generated art and its increasing popularity within the NFT space. As the demand for NFTs continues to grow, Binance’s new system has the potential to transform the way digital art is created and traded in the blockchain ecosystem.