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A non-fungible token (NFT) is a type of cryptographic token that represents a unique asset. NFTs are tokenized versions of digital or real-world assets. In a lame man's explanation, everything you see in the real world like cars, trees, rivers, feelings and emotions can be stored or expressed on the Blockchain, when these get into the Blockchain it's called NFTs.

Artificial intelligence refers to a non-human model which is capable of solving sophisticated tasks and performing cognitive functions like learning, problem solving, reasoning and perceiving. Today, developers have found a way to use this advanced technology in the Blockchain which brings us to Artificial intelligence Non fungi token (iNFT). Currently, many mechanisms are available for creating AI art, including procedural 'rule-based' generation of images applying mathematical patterns, algorithms which simulate brush strokes and other painted effects, and artificial intelligence or deep learning algorithms such as generative adversarial networks and transformers.An AI NFT is a non-fungible token embedded with a Generative Pre-trained Transformer 3 (GPT-3) language model prompt as an aspect of its smart contract. This kind of intelligent NFT is not only intelligent but appears with other properties like animation, interactivity and many other generative capabilities still evolving.

"Is an AI an artist or a tool?"

In the space for few months now, one specific creative application of AI technology has acquired intensive and extensive acceptance: image creation. Training AI models to turn text-based prompts into images is nothing new. But we’ve recently seen images generated via OpenAI’s DALL-E program flood our feeds as such AI-based tools become more user-friendly. According to OpenAI’s website, DALL-E works by using its vast language database to turn text-based inputs from users into easily recognizable images matching or approximating the text input. This allows DALL-E to recognize parameters within the text-based input, such as the spatial relationships of the objects specified in the input as well as the individual properties of objects included in the prompt. Interestingly enough, nearly every pop culture character you can think of is included in DALL-E’s data banks.

How AI Will Be Impacted By the Rise of NFTs?

in fact, the Bored Ape Yacht Club market exploded to more than $1 billion over the course of the year, with prominent celebrities like rapper Eminem and NBA star Stephen Curry jumping on the trend. But it isn’t just artwork that is making waves in the NFT market. The president of Square Enix, the developer of the famous RPG series Final Fantasy, put out a statement detailing how he felt that NFTs would be a major development in gaming in 2022.

Another use of an NFT is to prove ownership of a specific perk. One popular form of NFT that is found in everyday life is the fan token. It is a vehicle by which sports teams sell digital influence; for a small price, a supporter can own an NFT which gives them voting rights on certain topics or access to unique content. These tokens can be sold as well as bought and retain a value for the owner. That’s not the only form of NFT that has made it into pop culture; the rock band Kings of Leon released an entire album as an NFT early last year. This is very much the accepted ‘base level’, with innovation happening all the time, not least in the field of AI.