Coinbase, a big player in the cryptocurrency exchange market, has recently unveiled “Instamint”, a groundbreaking feature in its NFT (non-fungible token) marketplace. This innovative tool empowers users to craft their NFTs using artificial intelligence (AI), merging the worlds of blockchain and AI in an exciting new way.
Instamint: Unleashing Creativity on the Blockchain
The Instamint feature is an innovative initiative set to revolutionize how people engage with NFTs. This feature lets users easily upload images and transform their creative ideas into unique digital assets. This feature allows users to add a name and description and set their desired price (starting from just $0.01). This makes the NFT creation process more accessible to a wider audience.
A Limited-Time Offer for NFT Enthusiasts
To kickstart this journey into AI-generated NFTs, Coinbase is currently offering a special deal. Users can enjoy the NFT creation process on Instamint without any transaction fees. However, it’s important to remember that Ethereum gas fees, which cover the cost of recording transactions on the blockchain, will still apply. Instamint is currently in its beta phase, indicating that Coinbase might roll out more features and enhancements soon.
Coinbase’s move into AI-assisted NFT creation aligns with broader industry trends, as despite a dip in overall NFT trading volumes, the interest in innovative uses of NFTs continues to grow. According to CoinGecko’s report, NFT trading volumes fell from $26.3 billion in 2022 to $11.8.