Nfts
NFT platform Zora offers AI model creators a new way to make money
Zora, an NFT-based social media platform, is continuing its expansion beyond the crypto sphere into the booming artificial intelligence market, said Dee Goens, the startup’s co-founder, said on Chain Reaction.
Not to be confused with Sora, the text-to-video conversion tool offered by OpenAI, Zora aims to help creators, brands and artists better monetize their content using NFTs. Last month, Zora had "just under" half a million monthly transacting users and in the last 30 days, Zora creators have earned over $1.3 million from posting their content , Goens said. We also posted this episode with Goens on Zora, Check it out here.
The Zora network is built on the Layer 2 Optimism blockchain, which focuses on the growth of the Ethereum ecosystem. Since its inception in 2020, Zora has made more than $300 million in secondary sales, users have created or released more than 4 million NFTs, and has approximately 1 million unique collectors, according to its website.
But there is still work to be done. Jacob Horne and Goens, co-founders of Zora see crypto and AI as two complementary technologies who can benefit from each other.
“Crypto wants information to be on-chain so that it can be leveraged and add value to the system,” Goens said. “And AI wants information to be on-chain so that it can be freely accessed and used by the system. So we’re on a kind of collision course where we want to put more things on-chain, in order to add value, to create value in an efficient way.”
Simply put, to train its models and grow, AI needs access to more information and crypto wants on-chain information to grow its ecosystem.
“We need systems that can help us integrate all of these things into the chain, and that's what we're trying to do at Zora,” Goens said. The company is trying to create a platform that enables the transition from AI to blockchains.
Earlier this week, Zora launched the ability for creators to use AI to create coins, jargon for recording or publishing a transaction on the blockchain, on its platform. That means someone can type in what they want, have the image generated almost instantly, and create it shortly after, Goens explained.
“This is a zero-to-one moment, one of the first passive income streams for creators of large language models like Stability AI,” Goens said. This means that these AI creators have the opportunity to capture the value of their models' results when people create them and the gains are automatically halved. “We're really excited to usher in an era where model creators, not just the creators of the outcome, but the model creators themselves, also have a way to reap the rewards of the creativity they help produce. »
Overall, Goens said he’s seeing a lot of demand from NFT creators for more AI features and tools. “This is new in a lot of ways and I think they’re excited to innovate.”
In the future, he said he sees an opportunity for blockchains to help verify, authenticate and prove ownership of creations – not only for models, data and information, but also for the origin of the creations. media themselves.
“I think crypto could survive without AI in its current trajectory,” Goens said. But he believes AI needs blockchains to bolster its narrative around verification and authentication — and he I'm not the only person who thinks that.
“I’m excited to see the models on-chain and to see more open sources of these models, so that we can all have the opportunity to investigate and inspect them so that we can make an informed decision,” Goens said. “This gives us an opportunity to put our money where our mouth is.”
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