Fetch.ai, an Artificial Intelligence laboratory located in the British city of Cambridge, has announced that it will launch an advanced non-fungible token platform that can help people generate NFTs automatically.
The platform, called Colearn Paint, uses a machine-learning algorithm that can create stunning NFTs, and reduces people’s effort in creating NFTs.
Over the past year, NFTs have skyrocketed in popularity, and have drawn the attention of big investors, celebrities, and even big companies. That is why NFT marketplaces, which were unheard of several years ago, have also risen into popularity.
The rise of NFT marketplaces
In a data released by DappRadar, it revealed that OpenSea had an amazing US$1.84 billion in sales volume in the last 30 days. Other NFT marketplaces are also not far behind as they also generated millions from NFT sales.
These marketplaces sell and trade various forms of NFTs which include artworks, collectibles, and games, to name a few. Even payments giant Visa has joined in the NFT craze by purchasing a CryptoPunk NFT, one of the most sought-after NFTs in the market today, for US$150,000.
Machine learning
NFTs are usually made in a two-step process, first, the creators carefully design their digital artwork, then they will mint it through the help of their preferred NFT marketplace.
But with Fetch.ai’s Colearn Paint platform, it can automatically generate NFTs for creators using its advanced machine learning algorithm.
“As NFTs continue to gain popularity, trained machine learning algorithms will streamline the process for users to create and sell these abstract compositions. We know the collective learning framework is the future, and we see this model being adopted for a multitude of products beyond NFTs,” Humayun Sheikh, chief executive officer of Fetch.ai, said.
Image courtesy of Cointelegraph News/YouTube
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