NFT Platform Zora Unveils New Way for AI Model Makers to Earn Money

The NFT-based social network platform Zora is charting a bold path beyond the boundaries of the crypto world and venturing into Artificial Intelligence (AI), as Dee Goens, the startup’s co-founder, revealed during Chain Reaction.

Zora, the text-to-video tool provided by OpenAI, primarily aims to empower creators, brands, and artists to maximise their content’s monetisation potential through NFTs. With just under half a million monthly transacting users reported last month and creators on Zora generating over $1.3 million in the past 30 days alone, Goens highlighted the platform’s significant impact on content monetisation.

Embracing Synergy: Zora Network’s Vision for Crypto and AI Integration

This network is built on layer-2 blockchain Optimism and is dedicated to fostering the growth of the Ethereum ecosystem. Since its inception in 2020, Zora has facilitated over $300 million in secondary sales, witnessed users minting over 4 million NFTs, and boasts a community of approximately 1 million unique collectors, per its website.

However, the journey is far from over. Co-founders Jacob Horne and Dee Goens envision crypto and AI as symbiotic technologies capable of mutual enhancement. “Crypto wants information to be on-chain so that it can be valued and add value to the system,” explained Goens. “And then AI wants information to be on-chain so that it can be freely accessed and utilised by the system. So we’re on this kind of collision course where we want to put more stuff on-chain in order to effectively add value, create value.”

AI’s development hinges on access to expansive datasets, while crypto’s vitality relies on integrating information onto blockchains. “We need systems that can help bring all of these things on-chain, and that’s what we’re trying to do at Zora,” affirmed Goens. The platform endeavours to spearhead the seamless transition of AI onto blockchains and create harmony between these transformative technologies.

Also Read: Sora: OpenAI’s New AI Tool Can Instantly Create Videos From Text Prompts

Pioneering AI Integration: Empowering Creators on Zora’s Platform

Zora made headlines earlier this week with the launch of AI-enabled minting capabilities. This launch is expected to revolutionise the creation process for artists and content creators. Dee Goens elucidated that this groundbreaking feature allows users to effortlessly generate images through AI, swiftly followed by minting on the blockchain, thereby streamlining the creative process.

“This is a zero to one moment, one of the first passive income streams for the creators of large language models like Stability AI,” remarked Goens. The integration offers AI creators a novel revenue stream, allowing them to monetise their models’ outputs as users mint them, with payouts automatically split fifty-fifty. “We’re really excited to usher in an era where model creators, not just the creators of the output, but the model makers themselves, also have a way to reap the rewards of creativity that they’re helping to produce.”

Meeting the Demand: AI Functionality in the NFT Space

According to Zora cofounder Goens, there’s a demand among NFT creators for enhanced AI functionality and tools. He perceives this fusion as a novel development, stirring excitement among creators eager to explore innovative avenues.

Looking ahead, Goens envisions blockchains assuming a crucial role in verifying and authenticating creations, extending beyond models, data, and information to encompass the origin of media itself. “While crypto could sustain itself without AI, the symbiotic relationship between AI and blockchains amplifies the narrative around verification and authentication,” Goens asserted, echoing sentiments shared by many.

Goens revealed, “I’m excited to see the models on-chain and see more open-sourcing of these models so that we can all have the opportunity to investigate and inspect them in a way where we can make an informed decision.” “That opens up an opportunity for us to put our money where our mouth is.”

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Our Final Say

Zora’s foray into the AI market is a huge step towards converging blockchain technology and artificial intelligence. Its innovative features and commitment to empowering creators put Zora on a track to revolutionise how AI models are monetised and deployed. By harnessing the power of blockchain to facilitate seamless integration with AI, Zora is paving the way for a more inclusive and transparent digital ecosystem where creativity thrives and value is democratised. 

We can expect Zora to continue expanding its offerings and pushing the boundaries of technological innovation, thereby contributing to reshaping the future of content creation and distribution globally.