In a tweet today, Binance CEO, Changpeng Zhao revealed a new AI-powered product from the cryptocurrency exchange. The AI-powered product name Bicasso according to the Binance boss is capable of turning creative visions into NFTs through AI.
Also, in his tweet, Changpeng Zhao indicated that the Beta Version is presently live but limited to 10,000 mints. The tweet came alongside a link that provided a preliminary insight into the functionality of the new collection. However, the cryptocurrency exchange is yet to provide full details about the initiative.
Nevertheless, the latest innovation from Binance represents how Artificial Intelligence is gradually finding its way into the NFTs and Crypto space. More so, the Bicasso will assist users in seamlessly desiging NFTs through the assistance AI, thus eliminating the need for having basic artistic skills to design NFTs.
The innovation from Binance will be one of the early products powered by Artificial Intelligence in the cryptocurrency space. In this era where the embracement of AI is heating up, almost every sector is bracing up in employing the innovation to advance their sphere. The cryptocurrency space isn’t left behind with many firms looking towards designing AI-powered solutions.
Presently, there are a league of AI-powered solutions in the cryptocurrency space with Binance’s Bicasso adding to the list. Some of these products are The Graph, SingularityNET, Fetch.ai, Ocean Protocol, iExec RLC, Numeraire, dKargo, Phala Network, Covalent, and Cortex.
Side note about Binance
The unveiling of Bicasso comes barely a day after Binance Boss, Changpeng Zhao reacted to a publication by Forbes that alleged the cryptocurrency exchange’s involvement in mismanagement of users fund.
Accordingly, the allegation surfaced at a period when the U.S. Securities and Exchange Commission has maintained a hard stance towards the industry. However, despite the emerging controversies, Binance hasn’t shown any sign of slowing down in it’s effort of maintaining its big reputation in the industry.
According to Coinmarketcap, Binance is the largest cryptocurrency exchange by trading volume. Efforts to dismiss the exchange have cooled off after one of its closest rivals, FTX filed for bankruptcy protection in November 2022.