The Cambridge-based artificial intelligence lab Fetch.ai today announced the launch of its new AI-controlled nonfungible token art generation platform.

Colearn NFT Art will allow users collectively to create and own NFT artwork generated by training a machine learning algorithm. More than 100 artists can create an abstract composition together and collectively own the AI-generated work of art.

“Fetch.ai’s NFT platform is unique in that the true artist behind each NFT is an art model, not a human,” said Humayun Sheikh, chief executive of Fetch.ai.

The NFT market for digital art has had a meteoric rise in 2021 with sales hitting $2.5 billion in the first half of the year, up from $13.7 million in the first half of 2020. Many marketplaces such as OpenSea and Rarible have been launched to take advantage of this market to allow artists to mint NFT artwork and auction it off.

“As NFTs continue to gain popularity, trained machine learning algorithms will streamline the process for users to create and sell these abstract compositions,” said Sheikh.

The creation of NFTs on the platform involves a three-step process. The first step is a Dutch auction to select winners. The winners then participate in the collective learning process to train the machine learning algorithm and select the type of art, such as floral, pastel or Cubist, which will steer the NFT art generation. Finally, the platform mints the NFT.

The participants train the machine learning algorithm during the collective learning phase by drawing their own pattern on a “scribbling pad” during the learning phase. That prepares the machine learning engine to produce a set of abstract compositions based on the collaborative process.

After the training and art selection phase, the winners vote during three further rounds to choose the best images. That gives the machine learning engine a guide on how to generate the final NFT artwork that it will mint at the end of the entire process.

Using smart contracts, the NFT platform will allow all of the winners to share in the proceeds from the sale of the piece. The winners from the auction who received the highest number of slots will receive the highest percentage from an auction of the art on OpenSea marketplace.

Fetch.ai developed the Colearn NFT Art platform based on its collective learning framework, which enables multiple participants to collaboratively train a machine learning model together while preserving privacy.

“We know the collective learning framework is the future, and we see this model being adopted for a multitude of products beyond NFTs,” Sheikh said.

Image: Fetch.ai