Key takeaways:
- Binance has been alleged to have copied the idea of an NFT creation tool.
- After introducing Bicasso, it is alleged that the winner’s idea of a BNB Chain hackathon was replicated.
- On March 1, Binance announced the beta launch of the “Bicasso” AI-powered NFT generator.
After releasing Bicasso, cryptocurrency exchange Binance was accused of “blatantly” mimicking the BNB Chain hackathon winner.
The renowned cryptocurrency exchange in the world, Binance, developed the AI art creator Bicasso. In comparison to other AI art makers, Bicasso stands out because of its seamless NFT minting potential. Thus, once your creation is complete, you may mint it as an NFT and sell it.
Almost two months after presenting Chatcasso with the top prize at the BNB Chain hackathon held in Seoul between December 17 and 19, 2022, it has been accused that Binance cloned a tool made by Chatcasso.
The claims of theft have been refuted by Binance. As part of their development and trial phase, a devteam at Binance created Chatcasso, according to a representative of the company.
The representative added that numerous industry companies are investigating NFTs and AI as concepts. For successfully developing an AI-powered tool for manufacturing NFTs, Chatcasso secured the BNB Chain hackathon’s first prize and $5,000 in Binance USD.
The plaintiff goes by the username “ggoma”. The Dev provided screenshots of the two projects to highlight how similar their user interfaces and functionalities are. The commenter argued that it is not only unethical for a large corporation like Binance to imitate everything down to the name, but it is also misleading for users.
Moreover the claim proceeds to describe how difficult it is to distinguish between the names of the two projects due to their similarity.
Binance defended itself by stating that the name of their AI-driven NFT generator, Bicasso, was inspired by the OpenAI tool “Dall-E,” which was a nod to illustrious artist Salvador Dali. The business claimed that their team liked this idea very much.
Due to Binance’s failure to offer proper credit, many members of the community are incensed. Several reaffirm that large corporations stealing original ideas and passing them off as their own is nothing new. A user named @YammoYammo thinks Binance’s decision is a huge ” bummer “. Even the user admits to having seen the product before.
Many developers, like ggoma, are now hesitant to take part in hackathons for fear that their ideas would be taken by a significant player in the future
However, the story has another angle where NFT advocates argue that “AI + NFT” is not a novel idea.
The hatred thrown at Binance, according to user @PandaDog42069, is unjustified. Additionally, the user believes that the only reason ggoma is criticising Binance is that Bicasso is receiving much more attention than the purportedly “original ” model.
