Hoffman uses OpenAI’s AI-powered image rendering platform to generate NFT artwork to be auctioned through Magic Eden.
Billionaire tech entrepreneur Reid Hoffman, best known for co-founding enterprise networking platform LinkedIn, is launching a series of Solana-based NFTs created with OpenAI’s DALL-E 2 artificial intelligence software.
Hoffman announced the initiative on Twitter yesterday, noting that he will auction the first piece starting today on Magic Eden, Solana’s largest NFT marketplace.
My first NFT experiment is a small image collection called “Untranslatable Words” — words that exist in another language where no single-word equivalent in your own language exists.
I used DALL•E to illustrate 11 of my favorites, and we're revealing 1 piece a day on @MagicEden.
— Reid Hoffman (@reidhoffman) July 22, 2022
The project, called Untranslatable Words, will encompass 11 pieces of tokenized images originally created through DALL-E 2, which generates art based on written prompts.
“Anyone can ‘right-click save’ a DALL-E original and make infinite copies,” he wrote. “Enter: NFTs, a technology to make a digital asset provably scarce and unique. What happens when you combine two of the most important technological changes-how can they come together?”
Untranslatable Words artwork and NFTs
Hoffman said yesterday on his Twitter account:
“Inspired by the potential of DALL-E and NFTs – and the possibilities they unleash together – my team and I have created a series of small collections of images that we will tokenize as NFTs.”
In addition LinkedIn co-founder Hoffman, explained in great detail why he is experimenting with the combination of DALL-E and NFTs.
Some of his reasoning included the fact that a single word is worth a thousand images with the software, rather than the opposite which is usually true. In addition, he commented on the mix of digital abundance and scarcity.
Inspired by the potential of DALL•E and NFTs — and the possibilities that they unleash together — my team and I have created a number of small image collections that we'll be tokenizing as NFTs.
The first collection debuts on Magic Eden today.
Here's why I'm experimenting:
— Reid Hoffman (@reidhoffman) July 21, 2022
DALL-E is an AI system that allows users to type in a search query and realistic artwork is generated based on what they say.
In recent weeks it has gone viral on social media and people have created memes around it. Wired referred to it as “the Internet’s favorite AI meme machine.”
Currently the first of 11 is available for auction on Magic Eden, Solana’s main blockchain marketplace. With about seven hours left, the highest bid stands at 19.5 SOL.
Reid Hoffman, founder of LinkedIn
Reid Hoffman is an American entrepreneur and author from California, best known for co-founding LinkedIn, one of the world’s largest social platforms, where he went on to serve as executive chairman.
On the Forbes 2021 list of the world’s billionaires, Hoffman ranked 1580th with a net worth of $2.4 billion. This figure comes primarily from his stake in LinkedIn.
Prior to LinkedIn, he served on the board of PayPal during its founding days before joining the company as COO.
He is now a partner at venture capital firm Greylock Partners and is a co-founder of Inflection AI.
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