AI will be used everywhere in 2023, more than any other technology. It runs the apps you swipe, the shortcuts you use at work, and the pictures you look at. In 2021, it was the Future of NFTs to be all over the place and used all the time. Since both industries change at a dizzyingly fast rate, it’s possible that they could run into each other. AI and NFTs will eventually come together, which is both inevitable and exciting.
AI and crypto aren’t exactly strangers to each other. They’ve been linked for years, sometimes through questionable token projects that claim to use AI but don’t do much with the tech. But there are also more plausible connections. For example, the web3 movement puts blockchain and AI in the same category as transformative technologies that will change how people interact around the world.
Separating AI Hype from Reality
AI tokens, like AGIX and FET from SingularityNET and FET from Fetch.ai, have been some of the best investments this year. Ocean Protocol, Numeraire, and Cortex are also vital projects that have something to do with AI.
In the NFT space, artificial intelligence has been used for everything from high-brow art to low-effort pixels. This has mainly been made up of art made by AI, which is impressive and getting better every day. Most people use software like Stable Diffusion and Discord prompts to shape the creative process. The Text2Image service from airtight doesn’t just draw the NFT; it also creates an ERC721 token.
Even though using AIs to make NFTs is the most obvious way for the two to work together, the market can only handle so much art made by AIs. This trend results from the NFT market risks being flooded with low-energy PFP collections that a computer can cause in seconds. If NFTs are about community, it seems unlikely that this process will lead to the next BAYC. AI has a lot of uses in the NFT market that go much deeper than generative art, but they have nothing to do with that.
The Evolution of NFTs
AI is a service, not a problem-solving tool. Most of the time, it can’t give you the finished product; it can only give you the parts that help you make it. When you think of AI as a way to make markets more efficient, you can see how it can be used in the NFT space.
AI can be utilized to verify the authenticity of NFTs, for instance. This is accomplished by examining the token’s digital signature and other characteristics. (Artificial intelligence is also adept at identifying the author of a work of art based on the brushstrokes)
AI and NFT Marketplaces
AI also applies to NFT marketplaces, where it may perform several valuable tasks. One of these methods is to estimate the value of non-fungible tokens based on historical data, such as the sales of similar tickets and other market patterns. It can also automate NFT marketplaces, including inventory, pricing, and sales management.
There are also games. What is the result of combining GameFi with NFTs and AI? According to its boosters, web3 gaming is the way forward. NFTs can be used as badges to display achievements, enable unique features, and sustain a vibrant secondary market for in-game commodities.
The web3 company Looking Glass Labs made the NFT collection GenZeroes, which sold out in just 37 minutes. Its 200-year-in-the-future science-fiction epic is the kind of series in which AI is expected to play a significant role. In the sci-fi NFT series, epic scenes can be animated using artificial intelligence to show what the fight to save humanity is like. This kind of content would have been too expensive to make before AI came along.
The Invisible Hand That Guides
In actuality, most AI-enhanced NFT initiatives will go unnoticed by end users. On an internet rich with deep fakes, computers impersonating humans, and humans imitating machines, it has become practically impossible to determine who is a bot and who is not, as well as what was created by artificial intelligence and what was conceived by humans alone.
This uncertainty, which exists at the intersection of society and cyberspace, is embodied by NFTs. Many of the most popular web3 and metaverse games are set in dystopian futures where good and evil, as well as human and nonhuman, are difficult to distinguish. NFTs and AI are part of this rich blend of technological progress and social stagnation.