Apply Chat GPT and take care of the environment… NFTs Seeking a Comeba…
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SM6, created as a desert buggy car in the Renault Motors campaign. Renault Motors.
Although there is a spring breeze in the coin market, with Bitcoin rising more than 70% in the first quarter of this year, the NFT industry is still an "ice kingdom." The Bored Ape Yacht Club (BAYC), one of the representative NFTs, had a lowest price of about 11.65 million won as of the 9th, plunging to one-third of the highest price recorded in April last year. Art NFT, which turns art into a digital token, has also slowed down the release of new works recently.
In order to overcome this situation, a series of NFT projects are emerging that are trying to transform into new concepts. Recently, it is pioneering new areas such as applying artificial intelligence (AI) such as Chat GPT, which is popular, or NFTs for ESG (environmental, responsible, and transparent management) such as environmental protection. On top of that, NFTs that focus on utilities such as membership authentication are also appearing.
Meet AI to Increase Creativity
Renault Motors is the most recent example of applying AI to NFTs. Renault launched an NFT campaign this month using Stable Diffusion, an image-generating AI, and Chat GPT, an interactive AI. The campaign, named "Creat Your SM6 (Create your SM6), is Renault's third NFT project, in which several keywords are added to the stable diffusion to create an original SM6 image and then give a story using Chat GPT.
For example, if you enter the keyword "Batman style" in the stable diffusion, an SM6 image created accordingly is created, and then the story is added when you ask Chat GPT to create a story about the Batman-style SM6.
This campaign is characterized by the fact that participants can create high-quality images using their rich imagination with simple keywords. Currently, various creative images created by participants, such as the SM6 converted into desert buggy cars and the Butterfly Door-type future-oriented coupe-type SM6, are posted on the website, and voting is underway. Each image lists the keywords used in the stable diffusion, so that subsequent participants can pick up only the style they want and use it to create new images.
Polar bear polar bear, the main character of "Master Polar Bear".
Emphasize environmental protection with animal characters
Recently, attempts to combine ESG and NFT, which are attracting social attention, are also emerging. In particular, it is characterized by the use of NFTs as a means of informing environmental protection to make up for criticism that virtual currency consumes a lot of power to mine and pollutes the environment. Com2us, which is working on Metaverse and Blockchain, is working on an NFT project called 'Master Polar Bear'. The NFT aims to publicize the risks posed by climate change and environmental pollution by using various Arctic animals as characters along with mother polar bears. Specifically, the mother polar bear will travel in time to change the future of the Arctic, which is in crisis due to environmental pollution and climate change.
It is characterized by stimulating emotions with friendly animal characters and interesting stories to cope with environmental protection and climate change. The latest "Game World" series is aimed at the younger generation who are familiar with the game by organizing the story that mother polar bears enter the world of the game and seek hints to revive the environment.
Membership-based NFTs are also attracting attention. Odyssey, a membership NFT issued by Starbucks, sold out its first 2,000 in 18 minutes in March. In Korea, several companies, following Shinsegae Fubilla, are reportedly considering issuing membership NFTs as a bridgehead for entering Web 3.
You have to consider the conditions for a successful transformation
However, in order for NFT to boom again, it is pointed out that combinations with various concepts such as AI and ESG should actually help increase value. AI has a problem that copyright infringement, which is a chronic problem of NFT, is applied equally. Until now, generative AI has been relatively free from copyright issues as it has been mainly applied to NFTs for profile photos, but copyright infringement is emerging as a major issue again as the scope of application is expanded to art NFTs.
The combination of ESG concepts cannot be free from criticism of environmental pollution, one of the fundamental problems of virtual currency. This is because if NFTs are issued whenever activities are conducted to protect the environment, the irony of increasing environmental pollution due to the use of the network may occur. As an alternative to this, the industry is proposing a plan to combine it with real-world NFTs.
Maeil Business Newspaper publishes related articles once a month in the "Money & Rich" section to broaden readers' understanding of the virtual asset market such as blockchain, virtual currency, and non-replaceable tokens (NFT). The Money & Rich blockchain paper is written by Maekyung Media Group's blockchain subsidiary 'Mblock'. M-Block is a blockchain-based virtual asset and NFT service technology company that provides reliable information and serves as a bridge between Maekyung Media Group readers, Blockchain, and Web3.
