NFT Art brings new meaning to nonfungible tokens, but can AI gain enough trust to produce a new genre of Art?
Sales of NFTs reached $25 billion last year, indicating that the sector is one of the most popular markets in crypto. Art NFTs made a significant impact in 2021, with Christie’s having more than $94 million in nonfungible token sales. It reported the outcome during its fourth annual Art+Tech Summit this past August.
While the notable crypto art scene appears dominated by cartoons and memes, projects like Bored Ape Yacht Club and CryptoPunks have taken center stage.
Although these projects are considered very successful today, new variants of NFTs are emerging based on the human imagination and advanced technologies.
AI-generative NFTs might become a new art genre
AI-generative NFTs are becoming increasingly popular along with those interested in emerging technologies such as AI, the Metaverse, and blockchain. To create AI-generative NFTs, one would use GANs or generative networks. These algorithms power computers to use data to train models to create machine-made images resembling Art.
An AI-collaborative artist, Claire Silver, said that AI-generative NFT art is a new genre. He noted that the basic principle of creating Art is cooperating with AI. For example, it can be GAN.
He said that anyone could work with several options and tools (code-heavy and completely code-free). He described working with an AI to bring ideas to life as an experience like no other. It boosts creativity in a way that feels like freedom.
Silver explained that she leverages Eponym to create AI-generative NFTs. The AI-generated art company Art AI developed the Eponym tool that allows users to create Art based on their text and then mint them to OpenSea, the largest NFT marketplace. That would be a once-in-a-lifetime experience.