Crazy but Powerful Idea to become a Millionaire using AI and NFT
Could this become the latest shiny side hustle?
This is from the Kanlanc Monthly newsletter of August 9, 2021.
Every month, I send out big ideas I’ve been chewing on and notes I’ve taken from consuming content I’ve enjoyed that month in the hopes that it makes you much more of an awesome person.
Let’s dive right in.
Art using Artificial Intelligence!
AI making art is not exactly something and it has long since existed from 2016 or possibly earlier. They were born by using generative adversarial networks (GANs).
GAN’s were first introduced by computer scientist Ian Goodfellow in 2014, these algorithms are called “adversarial” because there are two parts in the model: One generates random images; the other has been taught, via the input, how to judge these images and deem which best align with the input.
Non Fungible Tokens(NFT’s)
Before we proceed, lets understand in simple terms what exactly does the term “Non Fungible Tokens” means:
Fungible, according to google means “something that can be replicated or copied”, so non-fungible means the exact opposite of that which is basically “unique that cannot be copied or replicated”
And token means — well — token: like how Bitcoin is a token. It’s a representation of some value.
NFT’s first became a thing when CryptoKitties first came out with their novel idea of selling unique virtual cats on the blockchain to the players.
CryptoKitties is a blockchain-based virtual game that allows players to adopt, raise, and trade virtual cats. Cats, on a blockchain! — Andrew Steinwold
From that point onward, NFT’s have been exploding in popularity as shown in the image below
Combining AI Art and NFT’s
AI is…well…not human, so technically(pun intended) it doesn’t need rest, remuneration or credit for that matter for the work it does.
So, you basically become the owner of all the “art” that it creates and if you have enough resources it can make an unlimited number of them.
Imagine selling each of these pieces as NFT’s on a blockchain for even 5$…..
Say, what’s 5$ * infinity?…… Exactly!!
Now, if its too good to be true, it probably is and the caveat is that you gotta sell them and you gotta do that fast because the same images might give the same results and there cannot be two pieces of an NFT by definition, so you gotta move fast!!
Before you get started, you gotta first understand the level at which an AI can create these art pieces.
To give you an example, the bottom image is generated by mixing the top 3 images. You have options to adjust the style and content of the image.
It doesn’t take much effort either, just finding suitable pictures.
Now, this is just an idea I have and there might be possibly restrictions on this use case or law’s on this, so make sure to research well before you dive in!
But is it random rambling from an idea I got in the shower? The answer is no, because the first generated AI art was sold for a whopping $432,500
Could this be a cash cow? Let me know your thoughts.
Other Articles You Might Find Interesting
This might or might not be the idea that will make you a millionaire but by reading this, you now have the perspective on NFT’s, art with AI and how you can mesh them to create a completely novel side hustle. This perspective can maybe help you come up with a different idea that could potentially be a trillion dollar jackpot.
So, for more mind blowing perspectives in AI, XR, and blockchain domains including how to combine them, do subscribe to the newsletter so you don’t miss any.
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