Artificial Paintings — a tech company that trained AI to create works of digital art — has transformed its AI-driven digital paintings into NFTs. The company has already presented more than a hundred of NFTs and plans to keep releasing more.
An NFT (non-fungible token) is a unique piece of digital artwork stored on a digital ledger. Non-fungible means that the digital asset is not interchangeable. In 2021, the NFT market has been rapidly developing, seeing a 25x increase in trading volume. According to the data published by Coindesk, monthly trading volume rapidly grew as of Q1, 2021: it surpassed $164 million in February, which is almost $130 million more compared to January.
The tremendous market growth rates attract producers of digital artworks and investors alike to the industry. Artificial Paintings, which has trained AI algorithms to generate unique digital artworks, is now trading NFT on several platforms. For example, the tech company has more than a hundred NFTs on Opensea
(https://opensea.io/collection/artificialpaintings) — the largest NFT marketplace. Besides, it also distributes non-fungible tokens via Rarible and Foundation.App, and it plans to partner with more platforms in the future.
Artificial Paintings has already attracted some clients and sold several tokens. When purchasing, a user receives an original image in .jpg format and the rights to use the digital asset for any purpose, including further resale for the sake of income.
Artificial Paintings uses a neural network that produces digital artworks. The company used a database of more than 10,000 famous paintings to train the AI algorithms, which can now generate digital images with no analogs. The neural network training process took over 6 months. All the paintings have 1024x1024 px resolution and are created in the RGB color range.
This release was published on openPR.