Cryptocurrency exchange Coinbase’s non-fungible token (NFT) marketplace has launched a new AI-generated NFT feature.
According to an X post on January 18, Coinbase is introducing a new “Instamint” feature to the market that allows users to create NFTs using artificial intelligence (AI).
You can now create AI-generated NFTs with Coinbase NFT Instamint.
Try it here: https://t.co/lmHeWvwLtg pic.twitter.com/wWRcgID4Mj
— Coinbase NFT
(@Coinbase_NFT) January 18, 2024
For a limited time, Coinbase is offering a free NFT transaction experience, although users will still have to pay Ethereum gas fees that cover the cost of recording transactions on the blockchain. The new tool is currently available in beta version.
To generate their own NFT, users must upload an image from which the token will be created. It is also necessary to indicate the name and description of the NFT, as well as its price (at the user’s discretion) starting from $0.01.
Source: Coinbase NFT marketplace
Coinbase has become a new exchange that has supported artificial intelligence technologies. Notably, major cryptocurrency exchange Binance last year introduced Binance Bicasso, an AI NFT generator that allows users to create personalized digital works of art by sending text or images. This strategic move demonstrates the industry’s commitment to harnessing the potential of AI, making 2023 the year of AI’s widespread impact on NFT platforms.
The Coinbase exchange announced the launch of a platform for non-fungible tokens in May 2022. According to the platform, Coinbase NFT will give users the ability to spend, purchase and display collectible digital assets.
Read more: Coinbase CEO outlines 10 key areas for crypto development
