Binance Launches Exclusive AI Product ‘Bicasso’ for Minting NFTs
On 1st March 2023, Changpeng Zhao (the CEO of the top crypto exchange Binance) took to Twitter to announce the launch of an exclusive product. The latest product called “Bicasso” is artificial intelligence (AI)-based. The chief executive officer shared on Twitter that the respective product is designed to convert the creative visions of the users into non-fungible tokens (NFTs). For this purpose, it utilizes artificial intelligence technology.
Here’s a fun new #Binance AI product called #Bicasso 🎨
You can turn your creative visions into NFTs with AI. Give it a try and show me what you make with it.
Beta version live now, limited to 10k mints.
➡️ https://t.co/QeQS7oh9uH pic.twitter.com/22Dllhg2sP
— CZ 🔶 Binance (@cz_binance) March 1, 2023
Binance Launches ‘Bicasso,’ Community Rushes to Mint NFTs
After the announcement, the community rushed to the website of the crypto exchange to utilize the latest product. A Twitter user going by “@Berit1p” asked if the respective product could be utilized through the app of the platform. On this Zhao replied that the product was just available on the online portal of the platform. Saying, this, Zhao recommended that the consumer should use the internet browser to go to the website.
The massive traffic of people, who started minting NFTs, paved the way for slackness in the system and the users were irritated by this. Several consumers complained about it. “@CryptooAdy,” a Twitter user, shared a screenshot in which it was mentioned that the customers should try again later because the system was busy.
A Brief History of Binance NFT
Binance launched its NFT initiative back in June 2021. It quickly swelled in terms of user activity and now it is the leading NFT platform as well. Overall the NFTs hype has decreased during the bear market but Binance has lost its NFT rank to other platforms. Moreover, the major competitors to Binance’s NFt program at the moment are OpenSea and Blur.