Artificial intelligence (AI) generated non-fungible tokens (NFTs) have gained increasing popularity in the art world in recent years, with many artists and collectors seeing them as a way to revolutionize the way we think about and value art. Here are some of the main pros of AI generated NFT art:
Increased accessibility: One of the main advantages of AI generated NFT art is that it can be easily reproduced and distributed digitally, making it much more accessible to a wider audience. This is especially important for artists who may not have the resources or connections to get their work shown in galleries or other traditional art spaces.
Greater ownership and control: With traditional art, the artist loses control over their work once it is sold. AI generated NFT art, on the other hand, allows the artist to retain ownership and control over their work, as the NFT acts as a digital certificate of ownership. This can give artists greater control over how their work is used and displayed, and can also help them to ensure that their work is properly credited and compensated.
Enhanced interactivity: Many AI generated NFT artworks are designed to be interactive and responsive, allowing viewers to engage with the art in new and creative ways. This can add an additional layer of depth and meaning to the artwork, and can also make it more engaging and immersive for viewers.
Increased value: Due to their rarity and uniqueness, many AI generated NFT artworks have been sold for high prices at auction. This has led some artists and collectors to view them as a potentially lucrative investment, as the value of the NFT may increase over time.
Greater potential for collaboration: AI generated NFT art can also facilitate greater collaboration between artists and collectors, as the technology allows for the creation of new and unique works that could not be achieved through traditional means.
Enhanced preservation: Digital art has the advantage of being able to be easily preserved and shared indefinitely, without the risk of deterioration or damage that physical artworks face. This can help to ensure that the art is able to be enjoyed by future generations.
Greater inclusivity: AI generated NFT art can also help to democratize the art world, as it allows artists from all backgrounds and locations to participate and share their work with a global audience.
Overall, AI generated NFT art offers many potential benefits for artists, collectors, and the art world as a whole. While there are also valid concerns about the use of AI in the art world, the potential for increased accessibility, ownership, interactivity, and value make it an exciting development in the world of art.
In a symbolic move to transfer a valuable digital collectible from Ethereum to Bitcoin, the owner of Bored Ape Yacht Club (BAYC) #1626 burned the NFT, effectively removing it from circulation. Despite Yuga Labs deeming the Ape illegitimate, it remains a highly prized NFT, having sold for almost $432,000 in November 2021. Non-fungible tokens (NFTs) represent unique digital assets, including digital art, and are linked to a digital token recorded on a particular blockchain network, in this case Ethereum.