- Advertisement -Newspaper WordPress Theme
AINFTs and GPTs: Will They Coexist or Compete in the World of...

NFTs and GPTs: Will They Coexist or Compete in the World of Digital Art?

The advancement of generative artificial intelligence (GPTs) has given everyone the ability to become a visual artist by using nothing more than text prompts. However, with non-fungible tokens (NFTs) revolutionizing the digital art world, there are questions surrounding whether NFTs will become obsolete. NFTs are computer programs that create virtual ownership, and they have already created an entirely new market for digital art, with sales of $27 billion in 2021.

NFTs and Tokenism

NFTs create a virtual embodiment of the subject matter and provide standardized mechanisms for managing the provenance, payment, trading, and distribution aspects of art. They also provide possibilities to implement mechanisms such as resale royalties. They have revolutionized the art industry by providing a market open to all artists, bypassing galleries, museums, and auction houses. Rainisto, an AI artist, states that NFTs have dramatically shifted gatekeeping aspects.

The Supply of AI Art

The GPTs created images and artworks based on text prompts, and anyone can become a visual artist by using text prompts. The increased competition among NFT artists might not be as dramatic as first thought as many creators using GPTs are pursuing other paths, such as graphic designers, brand consultants, and social media influencers. However, it is essential to recognize that the supply of AI art will grow dramatically with the ability of everyone to become a visual artist by typing a few words.

Obstacles to AI Art

Copyright lawsuits have already been filed against several companies offering text-to-image generators. There are concerns about privacy, including the alleged use of personal data, such as people’s photographs on social media, in the training databases, and job displacement in many sectors, including arts and design.

Conclusion

Although the increased competition among NFT artists might not be as dramatic as first thought, many AI creators might adopt NFTs as an alternative source of income. The art industry has dramatically shifted with the creation of NFTs and tokenism, providing a market open to all artists. However, there are still obstacles to AI art, including copyright lawsuits and concerns about privacy and job displacement. The ability of everyone to become a visual artist using GPTs and the increase in the supply of AI art will shape the art industry in the future.

- Advertisement -Newspaper WordPress Theme

Latest article

- Advertisement -Newspaper WordPress Theme

More article