The overall sales value of NFTs in 2021 was close to $25 billion (roughly Rs 1,85,722 crore), according to data from CoinMarketCap, demonstrating the public’s growing interest in this area.
It’s looking like NFTs created with AI will be the next big thing. Artificial intelligence art, also called AI-generated art, is a work of visual art that was created using AI.
It is widely considered a major step forward in this industry as businesses like OpenAI have released their own artificial intelligence tools that turn text descriptions into visuals.
During their fourth annual Art+Tech Summit in August 2021, Christie, a British auction house, estimated that sales of NFTs will total $93 million (about Rs 691 crore).
The crypto art industry is dominated by NFTs based on popular culture, which is why several initiatives, such as CryptoPunks and Bored Ape Yacht Club, have chosen to cater to this demographic.
As a new subclass of NFTs, AI art is poised to become the industry standard.
Popular among those in the art world and those interested in cutting-edge technologies like AI, blockchain, and the metaverse, these “AI-generative NFTs” are expanding the boundaries between the virtual and the real.
A common tool for making NFTs with artificial intelligence is Generative Adversarial Networks (GANs).
The Portrait of Edmond de Bellamy, by the French art collective Obvius, which uses a generative adversarial network (GAN) to simulate human creativity between the fourteenth and twentieth centuries, has received a lot of attention. Features 15,000 visuals in total.
With its sale at Christie’s in New York in October 2018 for $432,500 (about Rs 3.21 crore), this artwork made history as the first artificial intelligence-generated work to be sold at a major auction house.
The Edmond de Belamy portrait is the most well-known piece of GAN-based artificial intelligence art currently available. French artists collectively known as Obvious are responsible for this body of work.
It was assembled from 15,000 portraits from the 14th to the 20th century. It’s a copy of the Artwork 10 edition that sold at Christie’s in New York in October of 2018.
It was the first piece of artificially intelligent art to sell at a major auction house, fetching $432,500 (about Rs 3.21 crore).
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