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    Fetch.ai launches NFT platform for AI-generated art



    Artificial intelligence could provide nonfungible token creators with a
    more streamlined approach for creating and selling their digital art. 

    Blockchain artificial intelligence lab Fetch.ai has launched a new
    NFT marketplace for AI-generated art, giving users the ability to create
    digital collectibles in a collaborative setting through machine
    learning technology. 

    The new platform, dubbed Colearn Paint,
    allows groups of creators to automatically generate and collectively own
    NFTs designed by a machine learning algorithm. The platform is geared
    towards “abstract compositions,” according to Humayun Sheikh, CEO of
    Fetch.ai, who cited “collective learning” as a major trend for the
    future.

    Collective learning is a concept within artificial intelligence that describes the application of deep learning algorithms to data and privacy.

    Users
    of Colearn Paint will be taken through a three-step process for
    creating randomly generated NFTs. The first step entails bidding through
    a dutch auction to participate in the collective learning process. The
    winning bidders will input a “randomness pattern” and select art from
    the prearranged AI-generated options. The final step is the creation and
    sale of the NFT, which will allow users to distribute the profits among
    themselves.

    Related: Fetch.ai (FET) hits a 2-year high after DeFi integration and Bosch partnership

    NFTs
    have emerged as one of the most popular blockchain use cases, with
    investors and venture funds keen to back this so-called future of
    creativity. Several high-profile NFT marketplaces have launched this year, each with its own focus and desired utility. The nascent industry has truly hit its stride in 2021, with NFT sales topping $2.5 billion in the first half of the year.

    As Cointelegraph reported, credit card giant Visa recently made a splash in the NFT space by purchasing a CryptoPunk for $150,000. In June, a CryptoPunk NFT sold
    for $11.8 million on Sotheby’s auction house. Fetch.ai believes that
    AI-generated art options could steer the direction of the NFT market by
    giving users a more streamlined process for creating and monetizing
    digital abstractions.

    Related: Mark Cuban-backed Alethea AI closes $16M private token sale

    source link : https://cointelegraph.com/news/fetch-ai-launches-nft-platform-for-ai-generated-art

     


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