Non-fungible token (NFT) sales in 2021 were worth close to $25 billion (roughly Rs. 1,85,722 crore), proving that the sector saw tremendous growth within crypto assets, according to CoinMarketCap. Artificial Intelligence-generated NFTs are expected to be the next big boom within the space. As the name suggests, artificial intelligence Art or AI-generated art refers to any artwork created through the use of artificial intelligence and with companies like OpenAI launching its artificial intelligence programs that creates images from textual descriptions, AI art is more accessible than ever. British auction house Christie's during its fourth annual Art Tech Summit in August 2021 estimated a value of $93 million (roughly Rs. 691 crore) in NFT sales, suggesting that art NFTs have had a huge influence in 2021. Despite their importance, project like CryptoPunks and Bored Ape Yacht Club seem to have grabbed centre stage in the crypto art scene, dominated by cartoons and memes.
Speaking at BlockShow Asia 2019, Todalarity CEO Toufi Saliba posed a hypothetical question to the audience: "How many people would take a pill that made you smarter, knowing they can be controlled by a social entity?". "Now imagine at the same time the pill has autonomous decentralized governance so that no one can control or repurpose that pill but the host – yourself." . "It is when we are at a point of centralizing data that you can begin to think about decentralization