AI filters possibly made NFT collections obsolete

Source Cryptopolitan

Breakthroughs in AI rendering may have contributed to making NFT collections obsolete. AI’s ability to impose any art style on images means collections are no longer a scarce commodity. 

NFTs were already fighting for survival before they were dealt another blow after AI grew its capabilities of image rendering into multiple styles. Previously, collections relied on the scarcity of their style and a complex system of traits and characteristics to justify their high valuations.

NFT collections must now adapt to the new wave of image creation to have any chance at relevance. 

AI filters can now render and extend collections to infinite custom images, which can even be re-minted as new NFTs if needed. The appeal of NFT-style avatars as belonging to a community may even be under threat. 

Influencers are already noticing AI’s abilities in producing new avatars. The ability to copy the style of NFT collections can either kill them or give them a new path to recovering their popularity. 

In the past years, NFT collections have used some forms of automated generation or AI art. This time, the new filters and styles also enjoy social media popularity. 

The launch of AI filters rendering multiple styles has already given a boost to meme tokens. A new wave of launches for remastered old memes created a wave of Pump.fun tokens. For the NFT space, the ability to create limitless images and extend collections may bring down value even further. 

NFTs have one possible saving grace – the presence of true believer communities, as well as preferential access and airdrops. NFT artists and creators, however, may see themselves displaced by AI. Previously, NFT artists were tasked with creating the images for all trait variations in the same style for a fixed number of items. 

NFT collections remaster their art

The addition of Studio Ghibli style to ChatGPT led to an explosion of images remastered in that style. 

Collections are now relaunching in that style, as in the case of Ghiblady Maker, generated off the Milady Maker collection. The collection had an asking price of over $10K for its top NFT on OpenSea.

Milady Maker retained a floor price of 3.24 ETH, and has not benefitted from the growing attention. The Milady collection got a recent boost after the Ethereum community used the NFT as their avatars. Despite this, the floor price has fallen by 60% recently, as the community lost its attraction.

The Milady Maker collection retains a relatively high floor price, becoming one of the collections to be remastered in the Studio Ghibli style.
The Milady Maker collection retains a relatively high floor price, becoming one of the collections to be remastered in the Studio Ghibli style. | Source: NFT Price Floor

Other collections like Mad Lads are having even more fun with their avatars, by producing a Studio Ghibli version. Mad Lads remains one of the top 10 NFT collections still commanding a high floor price. 

Even Bored Apes got the Studio Ghibli treatment, though just as a test. The new trend has not created many new collections, as demand for NFT remains more limited due to the relatively high floor prices. 

NFTs have slowed down in the past year, with a total valuation of $1.6B. This is lower than some of the leading meme tokens, as the NFT market remains much slower. Despite this, individual NFTs are selling at prices as high as 135 ETH, with one Punk selling for 420 ETH in the past week. Collections also retain their leading positions, with liquidity still seeking out Pudgy Penguins and Crypto Punks. 

There is no mass interest in NFTs as most of the activity comes from insider communities, with additional sales, mini-collections and airdrops. Older collections are often revived with accompanying floor price rallies. The NFT space remains split between low-cost items used for fun, and the remaining blue-chip collections, which strive to retain value.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: Gold Eyes Key $4,400 Resistance as Falling Oil Prices Ease Inflation PressureAs of the Asian session on September 21, gold prices (XAUUSD) maintained high-level consolidation intraday today following a strong rebound last week, with the latest price trading around
Author  TradingKey
14 hours ago
As of the Asian session on September 21, gold prices (XAUUSD) maintained high-level consolidation intraday today following a strong rebound last week, with the latest price trading around
placeholder
Crude Oil Price Forecast: Can Brent Hold $100 as Saudi Export Recovery Weighs on Risk Premium?International oil prices fell for a fourth consecutive trading day on Monday, marking their longest losing streak since June. Although Iranian-backed Houthi militants launched fresh attac
Author  TradingKey
14 hours ago
International oil prices fell for a fourth consecutive trading day on Monday, marking their longest losing streak since June. Although Iranian-backed Houthi militants launched fresh attac
placeholder
Brent slides below $102 after Houthis' first strike on Riyadh — why oil can't hold $100Houthi forces struck Riyadh for the first time on September 19 and hit Yanbu facilities — yet Brent opened at $104.71, peaked at $104.90 and settled at $101.68 (-1.63% on the day). Here is the four-way data tug-of-war between strike escalation and supply recovery, and the two switches that decide where oil goes next.
Author  Irene Q.
19 hours ago
Houthi forces struck Riyadh for the first time on September 19 and hit Yanbu facilities — yet Brent opened at $104.71, peaked at $104.90 and settled at $101.68 (-1.63% on the day). Here is the four-way data tug-of-war between strike escalation and supply recovery, and the two switches that decide where oil goes next.
placeholder
Today’s Market Recap: AI Chip Stocks Gain, SanDisk Surges Nearly 11%, Micron Rises Nearly 4%, Bitcoin Reclaims $80,000Tracking Market TrendsTradingKey - On September 18, Eastern Time, U.S. stocks capped off a volatile week with the three major benchmarks closing mixed. Tech and semiconductor stocks extended their reb
Author  TradingKey
21 hours ago
Tracking Market TrendsTradingKey - On September 18, Eastern Time, U.S. stocks capped off a volatile week with the three major benchmarks closing mixed. Tech and semiconductor stocks extended their reb
placeholder
Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.
Author  Suzie
Yesterday 06: 19
Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.
goTop
quote