Wednesday, May 18

AI-Generated Art Predicted To Be Next Trend In NFT Sector By Cointelegraph


©Reuters. AI-generated art is predicted to be the next trend in the NFT industry

Sales of non-fungible tokens, or NFTs, reached $25 billion in 2021, proving that the sector is one of the most coveted markets in cryptocurrencies. Art NFTs, in particular, made a big splash last year, with Christie’s reporting over $93 million in non-fungible token sales during its fourth annual Art+Tech summit last August.

Although notable, much of the cryptocurrency scene seems to be dominated by cartoons and memes, as projects like CryptoPunks and Bored Ape Yacht Club have taken center stage. Although these projects are some of the most successful to date, a new subset of NFTs based on advanced technologies and human imagination is emerging.

AI-generated NFTs become a new art genre Known as “NFT-generating AIs”, these non-fungible tokens are becoming increasingly popular within the art community, along with those interested in emerging technologies such as artificial intelligence, blockchain and the Metaverse. To create AI-generated NFTs, generative adversarial networks, or GANs, are often used. These are algorithms that harness data from computers to train models that produce machine-made images that look like art.

Read the full article on Cointelegraph

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