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Zora, an NFT Platform, is Providing AI Model Creators With a New Means of Monetization

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Zora, an NFT Platform, is Providing AI Model Creators With a New Means of Monetization

The co-founder of the firm, Dee Goens, stated on Chain Reaction that Zora, an NFT-based social network platform, is continuing to venture outside of the cryptocurrency space and into the burgeoning artificial intelligence market.

Zora is a text-to-video technology by OpenAI that promises to assist creators, companies, and artists in better monetizing their content using NFTs. It should not be confused with Sora. According to Goens, Zora had “just under” 500,000 monthly transacting users last month, and in the previous 30 days, content creators on the platform earned over $1.3 million from submitting their work. Check out the episode we posted with Goens on Zora by clicking this link.

The layer-2 blockchain Optimism, which aims to expand the Ethereum ecosystem, is the foundation upon which the Zora Network is constructed. According to Zora’s website, since its founding in 2020, it has amassed over $300 million in secondary transactions, had over 4 million NFTs coined or posted, and has over 1 million individual collectors.

However, there is still work to be done. Goens and Jacob Horne, co-founders of Zora, consider AI and cryptocurrency as complimentary technologies that may enhance each other.

“Crypto wants information to be on-chain so that it can be valued and add value to the system,” Goens said. “And then AI wants information to be on-chain so that it can be freely accessed and utilized 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.”

Put simply, AI requires access to more data in order to train its models and expand, and cryptocurrency needs data on-chain in order to expand its ecosystem.

“We need systems that can help bring all of these things on-chain and that’s what we’re trying to do at Zora,” Goens said. It is trying to create a platform that ushers in the transition of AI onto blockchains.

Zora announced earlier this week that creators may now use AI to mint—a technical term for documenting or uploading a transaction to the blockchain—on its platform. According to Goens, this implies that a user can input anything they want, have an image created practically quickly, and mint it soon after.

“This is a zero to one moment, one of the first passive income streams for the creators of large language models like Stability AI,” Goens said. This means these AI creators have the ability to capture value from their models’ outputs when people mint them and the payouts are split in half automatically. “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.”

Goens stated that he generally observes a high level of demand for additional AI capability and tooling from the NFT creator side. “This is a net new thing in many ways and I think they’re excited to innovate.”

He stated that he believes blockchains will have the ability to help in the future to validate, authenticate, and demonstrate the ownership of creative – not just for models, data, and information, but also the source of the media itself.

According to Goens, “I think crypto could survive without AI in its current trajectory.” However, he and others believe that blockchains are necessary for AI to support its story about identification and verification.

“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,” Goens said. “That opens up an opportunity for us to put our money where our mouth is.”

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Biden, Kishida Secure Support from Amazon and Nvidia for $50 Million Joint AI Research Program

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As the two countries seek to enhance cooperation around the rapidly advancing technology, President Joe Biden and Japanese Prime Minister Fumio Kishida have enlisted Amazon.com Inc. and Nvidia Corp. to fund a new joint artificial intelligence research program.

A senior US official briefed reporters prior to Wednesday’s official visit at the White House, stating that the $50 million project will be a collaborative effort between Tsukuba University outside of Tokyo and the University of Washington in Seattle. A separate collaborative AI research program between Carnegie Mellon University in Pittsburgh and Tokyo’s Keio University is also being planned by the two nations.

The push for greater research into artificial intelligence comes as the Biden administration is weighing a series of new regulations designed to minimize the risks of AI technology, which has developed as a key focus for tech companies. The White House announced late last month that federal agencies have until the end of the year to determine how they will assess, test, and monitor the impact of government use of AI technology.

In addition to the university-led projects, Microsoft Corp. announced on Tuesday that it would invest $2.9 billion to expand its cloud computing and artificial intelligence infrastructure in Japan. Brad Smith, the president of Microsoft, met with Kishida on Tuesday. The company released a statement announcing its intention to establish a new AI and robotics lab in Japan.

Kishida, the second-largest economy in Asia, urged American business executives to invest more in Japan’s developing technologies on Tuesday.

“Your investments will enable Japan’s economic growth — which will also be capital for more investments from Japan to the US,” Kishida said at a roundtable with business leaders in Washington.

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OnePlus and OPPO Collaborate with Google to Introduce Gemini Models for Enhanced Smartphone AI

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As anticipated, original equipment manufacturers, or OEMs, are heavily integrating AI into their products. Google is working with OnePlus, OPPO, and other companies to integrate Gemini models into their smartphones. They intend to introduce the Gemini models on smartphones later this year, becoming the first OEMs to do so. Gemini models will go on sale later in 2024, as announced at the Google Cloud Next 24 event. Gemini models are designed to provide users with an enhanced artificial intelligence (AI) experience on their gadgets.

Customers in China can now create AI content on-the-go with devices like the OnePlus 12 and OPPO Find X7 thanks to OnePlus and OPPO’s Generative AI models.

The AI Eraser tool was recently made available to all OnePlus customers worldwide. This AI-powered tool lets users remove unwanted objects from their photos. For OnePlus and OPPO, AI Eraser is only the beginning.

In the future, the businesses hope to add more AI-powered features like creating original social media content and summarizing news stories and audio.

AndesGPT LLM from OnePlus and OPPO powers AI Eraser. Even though the Samsung Galaxy S24 and Google Pixel 8 series already have this feature, it is still encouraging to see OnePlus and OPPO taking the initiative to include AI capabilities in their products.

OnePlus and OPPO devices will be able to provide customers with a more comprehensive and sophisticated AI experience with the release of the Gemini models. It is important to remember that OnePlus and OPPO already power the Trinity Engine, which makes using phones incredibly smooth, and use AI and computational mathematics to enhance mobile photography.

By 2024, more original equipment manufacturers should have AI capabilities on their products. This is probably going to help Google because OEMs will use Gemini as the foundation upon which to build their features.

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Meta Explores AI-Enabled Search Bar on Instagram

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In an attempt to expand the user base for its generative AI-powered products, Meta is moving forward. The business is experimenting with inserting Meta AI into the Instagram search bar for both chat with AI and content discovery, in addition to testing the chatbot Meta AI with users in nations like India on WhatsApp.

When you type a query into the search bar, Meta AI initiates a direct message (DM) exchange in which you can ask questions or respond to pre-programmed prompts. Aravind Srinivas, CEO of Perplexity AI, pointed out that the prompt screen’s design is similar to the startup’s search screen.

Plus, it might make it easier for you to find fresh Instagram content. As demonstrated in a user-posted video on Threads, you can search for Reels related to a particular topic by tapping on a prompt such as “Beautiful Maui sunset Reels.”

Additionally, TechCrunch spoke with a few users who had the ability to instruct Meta AI to look for recommendations for Reels.

By using generative AI to surface new content from networks like Instagram, Meta hopes to go beyond text generation.

With TechCrunch, Meta verified the results of its Instagram AI experiment. But the company didn’t say whether or not it uses generative AI technology for search.

A Meta representative told TechCrunch, “We’re testing a range of our generative AI-powered experiences publicly in a limited capacity. They are under development in varying phases.”

There are a ton of posts available discussing Instagram search quality. It is therefore not surprising that Meta would want to enhance search through the use of generative AI.

Furthermore, Instagram should be easier to find than TikTok, according to Meta. In order to display results from Reddit and TikTok, Google unveiled a new perspectives feature last year. Instagram is developing a feature called “Visibility off Instagram” that could allow posts to appear in search engine results, according to reverse engineer Alessandro Paluzzi, who made this discovery earlier this week on X.

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