Coinbase pioneers the inception of AI-generated NFTs
Coinbase, a leading cryptocurrency exchange, has unveiled a groundbreaking feature on its non-fungible token (NFT) marketplace. The new feature, called “Instamint,” utilizes artificial intelligence (AI) to enable users to create their own NFTs.
In an announcement on January 18th, Coinbase introduced the Instamint feature, which allows users to generate NFTs using AI technology. For a limited time, Coinbase is offering a free NFT transaction experience, although users will still be responsible for Ethereum gas fees, which cover the cost of recording transactions on the blockchain. The Instamint tool is currently in beta version.
To create their own NFTs, users must upload an image that will serve as the basis for the token. They are also required to provide a name and description for the NFT, as well as set a price, starting from $0.01, at their own discretion.
Coinbase is not the only cryptocurrency exchange embracing AI technology. Binance, another major exchange, introduced Binance Bicasso last year, an AI NFT generator that allows users to create personalized digital artworks by submitting text or images. This move highlights the industry’s commitment to harnessing the potential of AI, with 2023 expected to be a year of widespread AI impact on NFT platforms.
Coinbase initially announced the launch of its NFT platform in May 2022. The platform, known as Coinbase NFT, enables users to issue, purchase, and display collectible digital assets.
For more information, you can visit the Coinbase NFT Marketplace. Additionally, Coinbase CEO has outlined ten key areas for crypto development, providing further insights into the company’s vision and goals.
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