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

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 from Dec. 17–19, 2022.

On March 1, Binance CEO Changpeng “CZ” Zhao introduced the launch of Bicasso, a man-made intelligence (AI) product that can be utilized to “flip your artistic visions into NFTs with AI.” Nonetheless, neighborhood member “ggoma” believes Binance copied and promoted the Chatcasso undertaking as its personal.

Binance, then again, dismissed the accusations of plagiarism. Talking to Cointelegraph, a Binance spokesperson mentioned Bicasso is an experimental undertaking constructed by a small staff at Binance as a take a look at, and that NFTs and AI are frequent ideas 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, receiving $5,000 in Binance USD (BUSD).

Chatcasso gained first prize on the December 2022 BNB Chain hackathon in Seoul. Supply: Twitter

Nonetheless, ggoma was shocked to see Binance launch an identical platform inside two months, stating:

“An enormous firm like Binance copying every little thing all the way down to the title? It’s not solely unethical, nevertheless it’s additionally complicated for customers. The names are so comparable that it’s laborious to inform them aside.”

As well as, ggoma shared screenshots of the 2 initiatives to showcase the similarities between the person interface and capabilities.

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

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

“Regardless of the similarities, after conducting an inside 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 improvement staff is just not concerned in BNB Chain hackathons, mentioned the spokesperson.

Binance clarified to Cointelegraph that the Bicasso title was impressed by the OpenAI device “Dall-E,” referring to the artist Salvador Dali, including, “our staff liked this idea.”

The whole episode has made ggoma skeptical of coming into hackathons sooner or later, as he questioned if a market chief would rebrand progressive concepts 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 firms on the market who will attempt to benefit from your laborious work.”

Binance’s Bicasso turned 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 circulating on WeChat, a social media platform in China.

CZ additional highlighted the significance of dismissing concern, uncertainty and doubt, advising traders to disregard false allegations that floor sometimes.