Sales of non-fungible 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, had a big impact last year with Christie’s reporting over $93 million in non-fungible token sales at its fourth annual Art + Tech Summit which took place last August.
While notable, much of the crypto art scene seems to be dominated by cartoons and memes, as projects like CryptoPunks and Bored Ape Yacht Club have taken center stage. While these projects are some of the most successful to date, a new subset of NFT is emerging based on advanced technologies and human imagination.
Generative AI NFTs are becoming a new art genre
Known as “generative AI NFTs,” these non-fungible tokens are becoming increasingly popular within the arts community, as well as those interested in emerging technologies like artificial intelligence, blockchain and the metaverse. In order to create generative AI NFTs, one would typically use Generative Adversarial Networks, or GANs. These are algorithms that take advantage of computers to use data to train models to produce machine-made images resembling art.
Claire Silver, a collaborating AI artist, told TBEN that AI-generating NFT art is a relatively new genre, noting that the basic premise is that art is created in tandem with a semblance of artificial intelligence, such as GAN:
“There are code-heavy options and completely no-code tools that anyone can work with. I use the latter in my work. Being able to work with an AI to bring your ideas to life is an experience like no other, it increases creativity in a way that feels like freedom, a type of game you haven’t experienced since you were a kid.
In order to create AI-generating NFTs, Silver explained that she used an art-to-text generator called “Eponym”. Developed by AI-generated art company, Art AI, the Eponym tool allows users to create text-based artwork of their choice and then create those…
