Coinbase NFT Instatt, Now Users Can Create NFT With AI

Coinbase launched Instatt, the manufacture of AI-based NFTs. (Photo; Doc. MoneyTimes)

JAKARTA - Coinbase, one of the largest crypto exchanges in the world, launched a new feature called Coinbase NFT Instatt. This feature allows users to create NFT (Non-Fungible Token) with the help of artificial intelligence (AI).

For information, NFT is a unique and non-exchangeable digital asset. NFT can represent various things, such as art, music, collection, and others. NFT has a value defined by the market and can be traded on a dedicated platform.

Coinbase NFT Instamint is the first feature in the world to combine NFT and AI. With this feature, users can send text or images to Coinbase, and AI will produce NFTs that match user demand. Users can also choose the desired category, theme and style of NFT. This feature aims to facilitate and accelerate the NFT creation process, as well as increase the creativity and variation of NFT.

Coinbase NFT Instamint is one of the features offered by Coinbase NFT Marketplace, an NFT buying and selling platform launched by Coinbase in October 2021. The platform is still in beta stage, but already has more than 2 million registered users.

Coinbase NFT Marketplace offers a community-oriented experience, where NFT collectors and creators can interact via comments and follow each other. The platform also offers free-cost experiences for NFT transactions, although users still have to pay Ethereum gas fees, which include transaction recording costs on blockchain.

Coinbase's move to integrate AI into the NFT platform signifies a wider industrial trend. In 2023, AI, particularly deep learning like ChatGPT and Dall-E, became the center of attention, marking an important moment for broad AI integration. Big exchanges like Binance and Coinbase are on the forefront of this flagship current, leveraging AI to introduce innovative features.

For example, Binance introduced Binance Bicasso last year, an NFT AI generator that empowers users to create personal digital art by sending text or images. Binance Bicasso has generated more than 100,000 NFTs since its launch, with an average price of around $100 (Rp 1.56 million) per NFT. This strategic move demonstrates the industry's commitment to utilizing AI potential, making 2023 a year of equitable AI influence on the NFT platform.

Coinbase NFT Instatint and Binance Bicasso are examples of the rapid development of NFT and AI. With these features, users can be easier and faster in the process of creating NFTs that suit the taste and style of creators.