Top 3 Ways Artificial Intelligence is Transforming the NFT Space

NFTs are coming to life, and artificial intelligence could be the basis for this emerging revolution in the NFT space. Through cutting-edge use cases and innovative solutions, it is quite possible that AI has found a new home in the world of digital art.

While it will take a few years for the entire industry to truly feel the impact of AI in NFT, early indications show that AI could potentially offer a lasting solution to NFT fraud. AI could also pioneer a new wave of computer-generated digital art.

In this article, I discuss three ways artificial intelligence is being adopted into non-fungible tokens. Let’s get started.

AI and NFT Fraud Detection

Fraud, scams, and plagiarism have been at their highest levels in the NFT space in recent years. Stories abound, from the tale of fake NFT collections to artist impersonation and outright NFT theft. In fact, Opensea (the largest NFT marketplace in the world) had to openly admit in early 2022 that more than 80% of all art on the platform is stolen.

NFT theft has direct implications for the original art owner and the NFT space as a whole. First, theft directly infringes on an artist’s intellectual property. Second, stolen art deprives artists of tangible income from art sales and secondary markets. Holistically, NFT fraud paints a bad image of the NFT space as a whole. This could also become a source of bad publicity and a major barrier for artists who would love to join the space.

AI offers a way out of this problem. Artificial intelligence could be deployed as a tool for fraud detection on NFT marketplaces. They will be integrated into platforms to screen all new art collections. This way, fake or stolen art is easily detected, and fraudsters can be met with the right punishment.

While this form of integration is still in its infancy, Airight is an NFT platform that is setting the pace for how AI and NFT could be used to meaningful effect. The platform doubles as both an NFT marketplace and an AI authenticity platform. Airight has an integrated, decentralised oracle system that scans new NFTs to confirm their authenticity.

The emergence of Smart and Intelligent NFTs

While NFTs can take various digital forms such as images, videos, GIFs, and audio, artificial intelligence can further transform images into NFTs. This emerging concept is now referred to as iNFT.

Essentially, iNFTs are made by infusing deep learning and machine learning algorithms into existing NFTs. This process is achieved by embedding DL and ML algorithms into the existing smart contract code of an NFT.

The NFT is then infused with custom-built personality traits, which makes it different from other similar art. Once this NFT comes to life, it can be further trained to master specific characteristics and skills.

Though this description sounds futuristic, it has already been brought to life by an NFT-focused AI project called Alethea AI. The protocol simplifies the process of making regular NFTs into iNFTs. On Alethea, NFTs can become intelligent through the infusion of personality pods into the NFT smart contract. Also, NFTs can be trained over time to learn new attributes and attain higher levels of intelligence.

Pioneering Computer-Generated Art

Generative art is quite popular in the NFT space. In fact, most large NFT collections are known to use digital art platforms to create variations of artwork for their collections. While this is quite well known, a new sphere in NFT art creation is beginning to emerge. In this sphere, artists are only required to supply elements and make descriptions, while AI is tasked with creating original computer-generated images.

In AI-based generative NFTs, an artist is only expected to describe the elements that they want in their art. AI creates art through different combinations and elements to create diverse results.

While some may consider AI-generated art to be lazy work, it is worth mentioning that AI has the capacity to explore different dimensions and combinations that humans will naturally not explore. This opens up the avenue for new collections with harmonious backgrounds yet contrasting results. AI will explore the details of colours, and the depth of attributes to create a genuinely unique NFT collection.

Bottom Line

There is a lot to be explored at the intersection of non-fungible tokens and artificial intelligence. At present, this exploration is in its infancy, yet an early indication is that the introduction of AI to NFT could be a major milestone in the evolution of digital art.

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