Binance’s AI NFT generator is flooded with requests hours after launch – here’s how it works

As the AI ​​narrative continues to create explosive market sentiment, Binance is determined to claim its share of the pie.

On March 1, legendary Binance CEO Changpeng Zhao (CZ) took to Twitter to reveal the launch of an exciting new AI offering.

Aiming at the growing AI-generated art sector, Binance Bicasso is an AI-based art generation platform. CZ described how Bicasso would enable users to curate and stamp incredible AI art on demand.

“[Bicasso] turn your creative visions into NFTs with AI,” said CZ.

Bicasso Beta Test completely overwhelmed by AI Frenzy

The first beta launch turned out to be something of a teaser, with a hard cap of just 10,000 NFT mints.

However, things quickly went wrong. With market sentiment around AI so intense, an absolute flood of volume overwhelmed the beta technology.

In fact, just an hour into the Bicasso beta test – the problems started to become apparent.

CZ was quick to put a stop to user complaints, as he moved to explain how the AI ​​app had been overloaded by a sea of ​​requests. The Binance CEO pointed out that more clones needed to be deployed to handle demand as Bicasso was single-threaded.

Single threading means that an application or script can only be run by one user at a time, on each machine on which it has been deployed.

This is the opposite of multi-threaded programs. A multi-threaded AI bot would enable multiple users to run the same script simultaneously without deploying to multiple machines.

Bicasso Beta sells out in 2.5 hours

Despite the initial technical challenges in the Beta test – the short teaser was a resounding success. Shows insanely high demand for AI art products in the NFT space.

This was attested to in a later tweet by CZ, who announced that all 10,000 mints had been used – bringing the Beta test to a close. Bicasso has since changed to a whitelist registration site.

This whole Bicasso exercise seems to be a masterclass in product promotion from CZ.

By inducing scarcity via the 10,000 mint cap on Beta, CZ was able to induce an absolute frenzy of attention and interest in Bicasso. No doubt Bicasso’s whitelist will be very long.

AI-generated art continues to make strides

With February characterized by huge industry stories. AI projects are riding high – on the back of significant market interest. As a flurry of activity around ChatGPT and Google BART ignited the AI ​​sector.

The AI ​​narrative pump saw top blockchain AI platform Fetch AI (FET) surge +72%. And fellow AI altcoin SingularityNET (AGIX) shot +327%.

Bicasso follows in the wake of projects such as NovelAI, DALL-E, Midjourney and Stable Diffusion. All of which have made major inroads into the AI ​​art generation market.

Fetch AI has also been targeting AI-generated art for a number of years.

In 2021, Fetch AI saw a similar beta test for blockchain-based AI art generation platform CoLearn Paint.