NFTs
Coinbase Introduces Creation of AI-Generated NFTs
The non-fungible token (NFT) cryptocurrency exchange marketplace Coinbase has launched a new AI-generated NFT feature.
According to a post from X on Jan. 18, Coinbase is introducing a new “Instamint” feature to the market that allows users to mint NFTs using artificial intelligence (AI).
For a limited time, Coinbase offers a free NFT transaction experience, although users will still incur Ethereum gas fees that cover the cost of recording transactions on the blockchain. The new tool is currently available in beta.
To generate their own NFT, users must upload an image from which the token will be created. It is also necessary to indicate the name and description of the NFT, as well as its price (at the user’s discretion) starting from US$0.01.
Source: Coinbase NFT Market
Coin base has become another exchange that has supported artificial intelligence technologies. Most notably, the leading cryptocurrency exchange Binance introduced Binance Bicasso last year launched an AI NFT generator that allows users to create personalized digital works of art by uploading text or images. This strategic move demonstrates the industry’s commitment to harnessing the potential of AI, making 2023 the year of widespread AI impact on NFT platforms.
The Coinbase exchange announced the launch of a platform for non-fungible tokens in May 2022. According to the platform, Coinbase NFT will give users the ability to issue, purchase and display collectible digital assets.