In a development, in the realms of blockchain and artificial intelligence Zora, a platform renowned for its NFT based network is taking steps to incorporate AI features aimed at enhancing opportunities for creators to monetize their content. Co founder Dee Goens unveiled this move during a conversation on Chain Reaction marking a moment for the platform as it expands beyond its origins in cryptocurrency.
Zora, distinct from Sora, OpenAIs text to video tool is designed to empower artists, brands and content creators by providing them with the ability to generate revenue through Non Fungible Tokens (NFTs). The platform has seen growth with 500,000 active users engaging in transactions just last month. In the 30 days creators on Zora collectively earned over $1.3 million by utilizing the platform to showcase their creations.
Operating on Optimisms layer 2 system that focuses on advancing the Ethereum ecosystem Zora has generated over $300 million in sales since its establishment in 2020. The platform boasts than 4 million minted NFTs and around 1 million unique collectors based on information, from its official website.
The founders of Zora, Jacob Horne and Dee Goens see the merging of cryptocurrency and artificial intelligence, as an evolution believing that both fields can mutually benefit from each others strengths. Goens explained the advantages of this integration emphasizing the importance of making information easily accessible on blockchain for the success of both industries. This shared objective is what motivates Zora to facilitate the integration of AI into blockchain platforms.
An exciting feature recently introduced by Zora allows creators to use AI to create NFTs on their platform. This innovative feature streamlines the process by generating and minting images based on text inputs significantly boosting creativity and efficiency for users.
This advancement marks an opportunity for AI developers, those working on major projects like Stability AI. It opens up avenues for these innovators to earn income from their models outputs through automated profit sharing mechanisms. This shift signals a chapter where creators of AI models can reap rewards from the endeavors enabled by their technology.
Goens is positive about the growing interest in AI capabilities among NFT artists and foresees blockchain technology playing a role, in verifying and validating creations origins.
He highlighted the significance of blockchain in strengthening the narratives around AI concerning verification and authenticity. He pointed out that while cryptocurrency could function independently from AI integrating the latter with blockchain is crucial, for its progress.
Zoras effort to combine AI and blockchain technology not just provides opportunities for creators to earn from their work but also establishes a foundation, for a transparent and trustworthy digital environment. By fostering innovation the platform leads a revolution that might reshape how AI, blockchain and creative content monetization interconnect.