Binance launches artificial intelligence to automate cryptocurrency token creation

Cryptocurrency exchange Binance has introduced a new AI-based tool for generating NFTs. According to Binance CEO Changpeng Zhao, the new tool, called Bicasso, generates NFTs of a profile image based on the photos and textual wishes of the user.

Apparently, the name Bicasso comes from the words Binance and Picasso, the name of the famous Spanish cubist artist. «With Bicasso, you can bring your creative ideas to life with Binance’s artificial intelligence tool and turn them into NFTs in just a few clicks,» the company’s blog post says.

Each user can create only one AI-based NFT, and the option is free. Users need to upload several photos and describe in text what they want to receive in the end. After that, Bicasso takes only a few seconds to work.

Bicasso is currently in beta testing with a limit of 10,000 NFTs available for minting. «In the future, we hope to allow the community of creators to add value to their tokens and give NFTs as gifts to loved ones,» the exchange representatives emphasized.

More and more people and companies are using neural networks to create texts and images. However, not everyone is happy about the growing popularity of AI tools — thousands of web designers from all over the world are against AI-generated images. Artificial intelligence creates artworks in a few hours that are similar or even better than those that web designers draw for weeks or even months, taking away work from real artists. Back in early December, web designers started a strike against artificial intelligence on the ArtStation platform, where art directors look for artists for their projects.