AI-generative art predicted to be next trend for NFT sector

cointelegraph.com:

Sales of nonfungible tokens, or NFTs, reached $25 billion in 2021, demonstrating that the sector is one of the most sought-after markets in crypto. Art NFTs, in particular, made a big impact last year with Christie’s reporting over $93 million in nonfungible token sales during its fourth annual Art+Tech Summit that took place this past August. 

While notable, much of the crypto art scene appears 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 is emerging based on advanced technologies and the human imagination.

Known as “AI-generative NFTs,” these nonfungible tokens are becoming increasingly popular within the art community, along with those interested in emerging technologies like artificial intelligence, blockchain and the Metaverse. In order to create AI-generative NFTs, one would typically use generative adversarial networks, or GANs. These are algorithms that leverage computers to use data to train models to produce machine-made images resembling art.

Claire Silver, an AI-collaborative artist, told Cointelegraph that AI-generative NFT art is a relatively new genre, noting that the basic principle is that art is created in tandem with some semblance of artificial intelligence, like GAN:

In order to create AI-generative NFTs, Silver explained that she leverages a text-to-art generator called “Eponym.” Developed by the AI-generated art company, Art AI, the Eponym tool allows users to create art based on their text of choice and then mint these creations directly to the largest NFT marketplace, OpenSea.

Eyal Fisher, co-founder of Art AI, told Cointelegraph that Eponym