It is believed that the integration between Generative AI and NFTs can develop Web 3.0-based digital ownership. Generative AI-induced Generative Adversarial Networks (GANs) can help grow NFT
From what it’s understood, Generative AI-based NFTs can offer benefits such as non-replication of original content, development of large amounts of content in limited time, increased reach to worldwide users, usage as collectibles in blockchain-backed games and other virtual reality (VR) experiences, and customisation based on users’ preferences. Market
Reportedly, platforms which are making a mark in the AI-based NFT landscape include RunwayML, Artbreeder, DALL-E, DeepArt, and DeepDream. For example, RunwayML is an AI project that can supply applications for designers and artists, as it permits users access to AI-based animations and designs. Using Artbreeder, customers can make use of AI-oriented content for utilisation in NFTs, through methods of deep learning and neural networks. OpenAI has also played a part in this context through the development of DALL-E, which makes images from textual descriptions that can be put to use in AI-based NFTs. As far as DeepArt and DeepDream are concerned, the former allows for conversion of photos into artworks using AI algorithms and the latter has been created by Google that makes use of neural networks to develop psychedelic images.
Moreover, analysts indicate that the future of Generative AI-oriented NFTs is dependent on factors such as Generative AI-based advancements, cross-industry applications, environment standards, increase in standardisation and interoperability, among others. Overall, AI’s effects on the NFT landscape change the ways of generating revenue from digital art, keeping in mind the originality factor. “The future of AI in the NFT market seems to be dependent on technological progress, regulatory developments and societal acceptance. Continued innovation in AI algorithms can lead to sophisticated and realistic generative models. The adoption of AI in the NFT space could contribute to the growth and diversification of the digital asset market,” Sathvik Vishwanath, co-founder and CEO, Unocoin, a cryptocurrency
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