BNB Chain hackathon winner accuses Binance of stealing AI-powered NFTs idea


Crypto trade Binance has been accused of “blatantly” copying the winner of the BNB Chain hackathon after launching Bicasso — an AI-based nonfungible token (NFT) creation device. Binance allegedly ripped off a device created by Chatcasso simply two months after awarding them first prize in a BNB Chain hackathon held in Seoul between Dec. 17 to 19, 2022.

On March 1, Binance CEO Changpeng ‘CZ’ Zhao announced the launch of Bicasso, a man-made intelligence (AI) product that can be utilized to “flip your inventive visions into NFTs with AI.” Nevertheless, neighborhood member ggoma believes Binance copied his venture Chatcasso and shipped it as their very own providing.

Binance, then again, dismissed the accusations of stealing. Chatting with Cointelegraph, a Binance spokesperson mentioned that Bicasso is an experimental venture constructed by a small workforce at Binance as a check and that NFTs and AI are frequent ideas being labored on by many business gamers.

Chatcasso gained the primary prize within the BNB Chain hackathon for creating an AI-powered device for creating NFTs and gained $5,000 in Binance USD (BUSD).

Chatcasso gained first prize in BNB Chain hackathon, Seoul, Dec. 2022. Supply: Twitter

Nevertheless, ggoma was shocked to see Binance lauch an identical platform inside a span of two months, as he said:

“A giant firm like Binance copying the whole lot right down to the title? It is not solely unethical, nevertheless it’s additionally complicated for customers. The names are so related that it is onerous to inform them aside.”

As well as, ggoma shared screenshots of the 2 initiatives in an try to showcase the similarities between the consumer interface and capabilities.

Screenshots displaying similarities between Chatcasso and Bicasso platforms. Supply: Twitter

Binance, nevertheless, maintains that the similarities doesn’t indicate theft of concepts. The trade’s spokesperson informed Cointelegraph:

“Regardless of the similarities, after conducting an inner evaluation, we’re assured that Bicasso was designed and developed independently greater than two weeks earlier than the BNB hackathon.”

Furthermore, Binance and BNB Chain function individually and the Binance growth workforce should not concerned in BNB Chain hackathons, mentioned the crypto trade. However, ggoma confirmed displeasure with the same names of the 2 platforms in query:

“A giant firm like Binance copying the whole lot right down to the title? It is not solely unethical, nevertheless it’s additionally complicated for customers. The names are so related that it is onerous to inform them aside.”

Binance clarified to Cointelegraph that the title Bicasso was derived following inspiration from the OpenAI device ‘Dall-E,’ which is a reference to the artist Dali, including that “Our workforce beloved this idea.”

All the episode made ggoma skeptical of coming into hackathons sooner or later as he questioned if his concepts can be rebranded by a market chief at a later stage. “We hope that Binance realizes the influence of their actions and takes steps to proper their wrongs,” ggoma added whereas warning builders that “there are corporations on the market who will attempt to make the most of your onerous work.”

Binance’s Bicasso grew to become an immediate hit amongst NFT traders because the AI-powered NFT generator recorded 10,000 mints in 2.5 hours.

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CZ lately warned traders {that a} photoshopped picture with misinformation was being circulated on WeChat, a social media platform in China.

CZ additional highlighted the significance of dismissing worry, uncertainty and doubt (FUD) and suggested traders to disregard false allegations that crop up now and again.