Cambridge-based tech startup Fetch.ai is introducing a new platform, CoLearn NFT Art, that allows groups of creators to automatically generate NFTs using artificial intelligence and machine learning for the first time.
Powered by the artificial intelligence and machine learning algorithms trained using Fetch.ai’s collective learning framework, CoLearn NFT Art will be able to automatically generate NFTs using AI/ML to create abstract compositions and allow users to collectively own a randomly generated work of art and share the profits. The platform will be controlled by smart contracts with the goal of creating a way for users to collectively own and train a machine learning model and access rewards and will combine the randomness of different patterns from the successful winners of the auction, allowing for the creation of collective artwork.
“Fetch.ai’s NFT platform is unique in that the true artist behind each NFT is an art model, not a human,” said Humayun Sheikh, CEO of Fetch.ai. “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.”
At launch, users interested in participating in the first round of artwork will take part in a 3-step creation process. The first step will be bidding through a dutch auction to take part in the collective learning process, then the winning users will input a randomness pattern and select art from the preselected AI-generated art options which will steer the direction of the NFT art generation. The last step is the creation of the NFT, which will allow users to share the profits, demonstrating the utility of the collective learning process.
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