Dispelling Misconceptions: The Real Relationship Between AI and Blockchain

The world of Artificial Intelligence (AI) and blockchain technology is rife with misconceptions. As these technologies continue to evolve, it’s important to address these myths and understand the realities of AI and crypto collaboration.

In today’s article, we’ll explore common myths surrounding AI in the crypto space, and debunk them one by one. And explain how our new generative NFT tool, GNT, plays into it all.

Let’s get mythbusting!

Myth 1: AI will require a centralised data cache

A common criticism of the marriage between AI and web3 is that this marriage is incompatible — after all, AI seems to require a centralised data source, which is antithetical to the ethos of crypto, no?

Well, it’s true that centralised approaches have been the norm for many AI systems, as it can help improve performance and provide easier access to the required data. But this misconception is nearsighted, as it doesn’t consider the immense potential for AI to be integrated with decentralised technologies like blockchain — disrupting the world of AI itself.

In a decentralised system, data is distributed across multiple nodes or locations, ensuring increased security, transparency, and resilience against data breaches or system failures. When AI is combined with decentralised technologies, it can leverage distributed data sources and work efficiently without relying on a centralised data cache.

GNT will combine the power of AI with decentralised blockchain technology to not just generate unique images but also mint them on-chain. By leveraging decentralised networks, GNT can create innovative solutions that harness the benefits of both AI and blockchain technology, providing a secure and transparent platform for generating and minting NFTs.

We recently released FairMint, providing NFT creators a platform to easily create and release their project.

Myth # 2: AI is only for large corporations

Another criticism of AI is that it’s made by and developed for large corporations. Indeed, there have been significant resources and investment historically required to develop and implement AI technologies. Large corporations often possess the financial means, technical expertise, and infrastructure needed to develop and maintain complex AI systems, which has led to the perception that AI is exclusively reserved for them.

However, the AI landscape has evolved significantly in recent years. With advancements in AI technology and the growth of open-source AI frameworks and tools, AI has become more accessible and affordable, even for smaller businesses, startups, and individual creators.

Innovative tools like GNT are designed to do exactly this — to democratise AI-powered image generation and NFT minting and unleash creativity.

By providing a user-friendly platform, GNT empowers individuals, artists, and smaller businesses to access AI capabilities and harness them for their own creative projects or ventures. Through making it accessible to everyone, GNT allows people of various backgrounds to explore the crypto world, breaking down barriers and fostering a more diverse creative ecosystem.

Myth 3: AI in crypto is just hype with no real-world utility.

It’s easy to brand everything as hype nowadays, but that tends to happen when people get too caught up in trying to find patterns and don’t see the vast power that lies right in front of them. In reality, the integration of AI and crypto is an intersection that will open up millions of new possibilities and drive significant advancements in various sectors.

It’s more than just hype; it’s the future. GNT merges AI & crypto to create unique, personalised images that will disrupt industries across digital art, gaming & personal branding.

And we’ve explored this in our recent blog The Dawn of a New Asset Class: Say hello to GNT

Conclusion

As we continue to witness the rapid growth and development of AI and blockchain technologies, it’s crucial to dispel myths and misconceptions that may hinder progress. With GNT, we can see how these technologies can coexist and complement each other, unlocking new possibilities and driving innovation. By addressing these myths, we can foster a more inclusive, diverse, and creative landscape in the world of AI and crypto, opening the door to a brighter, more connected future.

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