Bicasso: Binance’s NFT Generator Sells Out In 2.5 Hours
Binance, the world’s largest cryptocurrency exchange, has launched a new AI-powered non-fungible token (NFT) generator, named Bicasso. The platform can turn any user-uploaded profile picture into a digital artwork within seconds. Bicasso’s beta version was released on March 1, and within just 2.5 hours of launch, it had already minted the maximum of 10,000 NFTs.
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
The closed beta of Bicasso allowed users to upload an existing image or enter their creative suggestions to create entirely new artwork. According to data from the mint, 9,909 owners made at least one NFT during the beta phase. These NFTs cannot be resold, as they were part of the pilot program.
Binance’s Bicasso Surges
Members of the crypto community were thrilled to show off their latest creations, but the platform struggled with the demand. Binance’s CEO, Changpeng Zhao, said that the AI system was feeling the strain but eventually caught its breath. The company aims to improve the server’s capabilities to streamline the minting process and reduce errors.
Binance’s Bicasso is not the only AI-based art platform in the market. Last month, Taylor Hobbs’ “Fidenza #724,” an NFT generated using a computer algorithm, sold for $440,000 at Christie’s auction. In August 2022, Google Cloud AI converted all 10,000 NFTs from the Bored Ape Yacht Club into art pieces.
Debate Over Art Value
The use of autonomous systems to generate artwork is a new trend in the art industry. While some people see it as a way to democratize the art world and allow anyone to create and own art, others worry that it might devalue traditional art forms.
Binance has not yet announced the release date of the final version of Bicasso. However, those who missed out on the closed beta can still join the waiting list for the final release. With the increasing demand for NFTs, the launch of Bicasso could mark a new era in the world of digital art.
