Cambridge-based artificial intelligence lab Fetch.ai has announced the launch of Colearn Paint, its native NFT marketplace for AI-generated art. The platform will allow groups of creators to collaboratively generate and collectively own NFTs produced through machine learning algorithms.
According to the platform’s press release, the new NFT marketplace will be part of its Collective Learning framework for decentralized machine learning. This software creates extensible algorithms for developers and creators to train machine learning models without sharing any underlying data or exposing identifying information, applying learning algorithms to data and privacy.
“Fetch.ai’s NFT platform is unique in that the true artist behind each NFT is an art model, not a human. As NFTs continue to gain popularity, trained machine learning algorithms will streamline the process for users to create and sell these abstract compositions. We know the collective learning framework is the future, and we see this model being adopted for a multitude of products beyond NFTs.” shared Fetch.ai CEO Humayun.
Fetch.ai’s FET token is its Tokenized Open-Source Software stack built on a decentralized network. The new platform will feature “abstract compositions” of artistic production through machine learning processes, adds Sheikh. The CoLearn pAInt platform will involve a three-step process for users to create randomly generated NFTs: bidding, building, and voting for the auction’s winners.
Users who wish to create randomly generated NFTs must initially connect their wallet to the Fetch.ai dApp, then enter a bidding process through a dutch style auction to participate in the “collective learning” process.
Users who win bids will then provide a “randomness patter” to seed their own work and later select pieces from preset options generated by the machine learning algorithm. After successfully doing these, users may then create and sell their NFTs, enabling distributed ownership and profit sharing among all participants.
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