Monetizing AI Models Through NFTs: Zora’s Innovative Approach
Zora, an NFT-based social network platform, is expanding into the artificial intelligence (AI) sector (Jacquelyn Melinek). Co-founder Dee Goens revealed on Chain Reaction that Zora aims to help creators, brands, and artists monetize their content using NFTs. With “just under” half a million monthly transacting users and over $1.3 million earned by creators in the past month, Zora is making waves (Goens, 2022).
Built on the layer-2 blockchain Optimism, Zora has seen significant growth since its founding in 2020. Over $300 million in secondary sales, 4 million NFTs minted, and approximately 1 million unique collectors demonstrate its success (Zora Website). However, Goens and co-founder Jacob Horne believe that crypto and AI can mutually benefit each other.
“Crypto wants information to be on-chain,” Goens explained, “so that it can be valued and add value to the system.” Similarly, AI requires access to vast amounts of information to function optimally. By combining these technologies, Zora intends to facilitate the transition of AI onto blockchains.
Recently, Zora introduced the capability for creators to utilize AI to mint their content directly on the platform. This development represents a potential passive income stream for AI model creators such as Stability AI (Goens, 2022). As demand for more AI functionality grows among NFT creators, Zora plans to explore opportunities for verifying, authenticating, and proving ownership of creations – extending beyond models, data, and information to include the origins of media itself.
In conclusion, while crypto may thrive independently, AI stands to gain significantly from integration with blockchain technology. With Zora leading the charge, the possibilities for innovation are endless. Stay tuned for further developments in this exciting space.
