Binance, the world’s largest cryptocurrency exchange, recently launched an AI-powered non-fungible token (NFT) generator called “Bicasso” in beta. The platform allows users to turn their creative visions into NFTs with the help of AI.
However, the launch has been met with controversy as Korean designer @heyproject7 has accused Binance’s new tool of copying his product, Chatcasso, which just won first prize at the BNB Chain Hackathon.
The designer claims that Bicasso’s output is strikingly similar to Chatcasso, and the similarities cannot be ignored. So far, neither Binance nor CEO Changpeng Zhao has responded to the allegations. The designer’s claims raise questions about the originality of Bicasso’s output and whether the platform is truly creating unique digital art.
Despite the controversy, Bicasso has been churning out digital art at full capacity, reaching a cap of 10,000 NFT mints in just 2.5 hours after launch. According to initial mint data, 9,723 owners created about 10,012 total NFTs as part of the limited beta. However, the images were part of the pilot and are not available for resale.
However, the controversy surrounding Bicasso highlights transparency concerns. It remains to be seen how Binance will respond to the allegations and whether the platform will continue to operate as planned.
Binance Of Copying Winning Service
Hunt.town’s co-founder and designer, Cho Young-hwi, has accused Binance of copying its winning project. Cho tweeted that he never imagined Binance would copy his service, which uses AI technology to help users mint NFTs easily by entering text.
In a January 25, 2023 interview with BNB Chain, Cho explained that Chatcasso is designed to solve the design issue, a pain point for NFT-related services. The platform uses OpenAI’s services, which do not require special coding skills, allowing anyone to implement their ideas as NFTs on the platform.
Cho revealed in the interview that Chatcasso was a last-minute entry, developed after the team concluded that its existing product would not best suit the hackathon’s purpose. The team then started the NFT project late on the first night of the hackathon, integrating it into their platform later.
According to Cho, the idea of an AI-powered NFT platform came up after receiving many inquiries about NFTs and realizing that design work was a critical element that is not easy for ordinary people to understand.
Cho and his team believed that NFTs are an essential element for Web3, and therefore, they decided to develop an AI tool that can issue NFTs by linking the library and smart contracts under development.
Nevertheless, the accusations by Cho have not been addressed by Binance, and it is unclear whether there will be any legal action taken.