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

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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.


AI-generative Art Predicted To Be Next Trend For NFT Sector - AI Summary

#artificialintelligence

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. 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. Being able to work with an AI to bring your ideas to life is an experience like no other, it augments creativity in a way that feels like freedom, a type of play you haven't experienced since you were a child." While Eponym lets users create their own art NFTs, Metascapes is another project that was developed by three photographers looking to combine human expression with computer algorithms. While the potential for AI-generative NFTs is apparent, the question of whether or not artificial intelligence can be trusted to generate quality images based on text or photographs remains a concern. For instance, Fisher mentioned that Eponym has two versions of its generator available to the public, one on the company's Discord channel operating as a chatbot and the other as a private link that contains more complex algorithms capable of creating more advanced images. For example, Fisher remarked that Eponym's next project will feature interactive virtual identities where users can take their own portraits to create 3D avatars and animate them using artificial intelligence. 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. 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. Being able to work with an AI to bring your ideas to life is an experience like no other, it augments creativity in a way that feels like freedom, a type of play you haven't experienced since you were a child."


Portrait painted by an AI sells for $432,000 at Christie's in New York

Daily Mail - Science & tech

Christie's has sold a portrait painted by an AI for an eye watering $432,500. The AI-generated'Portrait of Edmond Belamy' depicts a slightly blurry, chubby man in a dark frock-coat and white collar. Christie's said the winning bidder wanted to remain anonymous, but confirmed the price skyrocketed after a five way bidding battle on the phones and via ChristiesLive. Pierre Fautrel, a member of the French art collective Obvious, poses in front of'Portrait d'Edmond Belamy,' an image created using Artificial Intelligence'Behold the future--here it is,' the auctioneer declared before the bidding started on the piece. The artwork is one of a group of portraits of the fictional Belamy family created by a Paris-based trio of 25-year-olds known as Obvious.


Portrait of Edmond Belamy to become world's first AI painting to go up for auction Verdict

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Auction house Christie's made headlines last year with the record-breaking $450m sale of Leonardo da Vinci's Salvator Mundi. Tomorrow's sale of the Generative Adversarial Network's Portrait of Edmond Belamy will likely be a far less significant event, but it could signal a changing of the guard in the art world as the Old Masters give way to a technology-dominated future. The sale of Portrait of Edmond Belamy will be another huge milestone for Christie's. This will be the first time in history that a piece of artwork generated by artificial intelligence (AI) will go up for auction. The picture depicts a blurred man in a white shirt and dark jacket, standing off centre.


Christie's Is First to Sell Art Made by Artificial Intelligence, But What Does That Mean?

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On Thursday, the AI-generated "Portrait of Edmond Belamy" sold for $432,500--some 45 times its estimated value--in a sale trumpeted by Christie's as the first auction to feature work created by artificial intelligence. It's a moment likely to be marked in the timeline of both AI and art history, but what, exactly, does the sale signify? For the AI community, the Verge's James Vincent writes in the days preceding the bidding war, the auction provoked controversy among those who argued that the humans behind the canvas (a trio of 25-year-olds best known as the Paris-based art collective Obvious) relied heavily on 19-year-old Robbie Barrat's algorithms yet failed to sufficiently credit him. If the work was truly authored by this string of numbers and letters, does it matter who built and trained the AI? And, given the relatively blurred, imprecise vision the portrait--which Vulture art critic Jerry Saltz scathingly describes as "100 percent generic"--offers of its dour-looking subject, does "Edmond Belamy" even deserve a place in the art history canon? There are no straightforward answers to these questions.