NFT News - Binance launches AI-powered NFT generator for KYC-verified users

The nonfungible token division of cryptocurrency exchange Binance has launched an AI-powered NFT generator that enables users to create original pieces of art. 

On July 26, Binance NFT announced that "Bixel," its AI NFT generator, is now always accessible to its consumers. The trading site claims that the technology enables users to create original digital art and enter the NFT market. To utilize the tool, users must, however, go through the platform's Know Your Customer (KYC) identification verification procedure.

The AI NFT generator's beta version, dubbed "Bicasso," was launched by Binance on March 1. The test version was able to mint the designated 10,000 NFTs at full capacity in under 2.5 hours.

The exchange, however, was accused of copying the AI NFT generation idea from the BNB Chain hackathon winners a few days after the beta's release. On March 2, community member Ggoma claimed that Binance had plagiarised their invention, "Chatcasso," which had won first place at the BNB Chain hackathon in Seoul, South Korea, back in December 2022. When questioned about the situation, a representative for Binance refuted the accusations and stated that Bicasso was created independently two weeks before to the hackathon.