Zora, a leading NFT-based social network platform, is making waves by venturing beyond the crypto sphere and forging a path into the burgeoning world of artificial intelligence (AI). This move, as explained by Zora co-founder Dee Goens on the podcast Chain Reaction, signifies a unique strategy with the potential to benefit both creators and the future of AI itself.

Distinguishing Zora: Beyond Just Text-to-Video

It’s crucial to differentiate Zora from Sora, the text-to-video tool from OpenAI. Zora’s primary focus lies in empowering creators, brands, and artists to monetize their content more effectively through NFTs (non-fungible tokens). This commitment has proven successful, with Goens revealing that Zora boasted “just under” half a million monthly transacting users last month. Even more impressive is the fact that creators on Zora have generated over $1.3 million in the past 30 days simply by posting their work. (https://zora.co/)

Building on a Strong Foundation

The Zora Network operates atop the Optimism layer-2 blockchain, a platform specifically designed to accelerate growth within the Ethereum ecosystem. Since its inception in 2020, Zora has facilitated over $300 million in secondary sales. The platform boasts an impressive user base, with over 4 million NFTs minted by users and roughly 1 million unique collectors actively participating. These figures paint a picture of a thriving NFT marketplace with a solid foundation.

A Symbiotic Relationship: Crypto and AI

However, Zora acknowledges there’s still room for growth. Goens and his co-founder, Jacob Horne, recognize the potential for crypto and AI to be mutually beneficial forces. “Crypto thrives on having information stored on the blockchain, where it can be valued and contribute to the overall system,” Goens explains. “Similarly, AI benefits from on-chain information for free access and utilization within its systems. We’re essentially on a collision course, where both sectors aim to put more data on the blockchain to effectively generate and capture value.”

Unlocking Value for AI Creators

In simpler terms, AI models require vast amounts of information to learn and evolve. Conversely, the crypto ecosystem desires increased on-chain information for expansion. Zora aims to bridge this gap by establishing a platform that seamlessly integrates AI into the blockchain landscape.

Earlier this week, Zora unveiled a groundbreaking feature: the ability for creators to leverage AI for NFT minting directly on the platform. This groundbreaking innovation allows users to input their desired text prompt, receive an almost instantaneous image generation, and subsequently mint it as an NFT. As Goens highlights, “This marks a pivotal moment – one of the first passive income streams for creators of large language models like Stability AI.” With this new functionality, AI creators can now directly profit from their models’ outputs as users mint them. The platform automatically splits the payouts in half, ensuring fair compensation for both parties. Zora is spearheading a new era where model creators, not just those generating the outputs, are empowered to reap the rewards of their innovative technologies.

A Future Powered by AI and Blockchain

Overall, Goens observes a surge in demand from NFT creators seeking enhanced AI functionalities and tools within the Zora ecosystem. “This represents a significant innovation in many ways, and creators are enthusiastic about pushing the boundaries,” he remarks. Looking ahead, Goens envisions blockchains playing a critical role in verifying, authenticating, and establishing ownership not just for models, data, and information, but for the very source of digital media itself.

Crypto and AI: A Match Made in Innovation

While crypto may function independently of AI in its current state, Goens believes AI requires blockchains to bolster its narrative surrounding verification and authentication – a sentiment echoed by many within the industry. “The prospect of having models stored on the blockchain excites me,” Goens enthuses. “Furthermore, increased open-sourcing of these models would provide everyone an opportunity to thoroughly examine and inspect them, allowing informed decision-making. This opens a door for us to bridge the gap between theory and practice.”

The Takeaway: Zora at the Forefront

Inspired by the TechCrunch podcast Chain Reaction, this article delves into Zora’s innovative approach to merging the worlds of NFTs and AI. Zora’s platform offers a glimpse into a future fueled by the synergy between these transformative technologies, paving the way for a more rewarding and transparent creator landscape fueled by AI and blockchain. We encourage you to subscribe to Chain Reaction on Apple Podcasts, Spotify, or your preferred podcast platform to stay updated on the latest advancements and insights shaping the future of technology.