Users paid $1,3 million for NFT paintings created by artificial intelligence.
Digital paintings generated by Botto’s artificial intelligence were sold at the SuperRare auction, New Atlas reports. So far, six NFTs have been sold, with the most expensive one valued at about $400,000 and the cheapest at about $80,000.
The Botto AI artist is the main algorithm of the Botto Project. It generates about 300 images a day based on the existing artwork. Every week, a separate algorithm selects 350 samples and presents them to the community members.
Botto is a decentralized project, so all decisions are made by the votes of BOTTO token holders. Then, the image that receives the most support is turned into an NFT and put up for sale.
VQGAN and CLIP neural networks aid Botto’s image generation process. Botto uses OpenAI’s GPT-3 language model to create a textual concept for a future project based on abstract poetry. VQGAN generates an image based on this information, and CLIP controls the quality of VQGAN’s work and “comes up with” a name for a picture.
Money from the sale is used by the creators to develop the project and to the liquidity pool of the BOTTO token. Also, after each auction, some of the tokens are redeemed and burned.
