Binance Unveils AI-Driven NFT Generator Exclusively for KYC-Verified Users

Binance, the prominent cryptocurrency exchange, has introduced an innovative Artificial Intelligence (AI) NFT generator known as “Bixel,” allowing users to create personalized digital artworks. The exchange’s NFT arm, Binance NFT, unveiled the AI NFT generator on July 26, offering a permanent platform for users to explore the world of NFTs through AI technology.

To ensure a trustworthy and secure environment for all users, Binance requires individuals to complete the know your customer (KYC) identity verification process before gaining access to the AI NFT generator. This measure aligns with regulatory requirements and best practices.

To mint NFTs using the AI tool, users are also required to pay a minting fee of 0.008 BNB (approximately $1.9 at the current exchange rate). This fee ensures the smooth execution of the NFT creation process within the BNB smart chain.

Binance has provided users with the opportunity to generate artwork using AI by offering ten chances daily to create art for free.

The idea of an AI NFT generator was initially introduced as a test version called “Bicasso,” launched earlier this year on March 1. The beta version experienced immense popularity, reaching its full capacity within just 2.5 hours and minting the allotted 10,000 NFTs.

Shortly after the beta launch, Binance faced accusations of stealing the AI NFT generator concept from the winners of the BNB Chain hackathon. A community member named “ggoma” alleged that Binance copied their project, named “Chatcasso,” which had won first prize in the BNB Chain hackathon held in Seoul, South Korea, in December 2022. In response, a Binance spokesperson refuted the claims, stating that “Bicasso” was independently developed two weeks before the hackathon and had no connection to the winning project.

With the permanent launch of “Bixel,” Binance NFT continues to explore the potential of AI in the NFT space, providing users with creative opportunities to engage with digital art and NFTs in innovative ways.

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