DALL-E 3 and the World of NFTs

In this chapter, we will learn about the intersection of DALL-E 3 and non-fungible tokens (NFTs). We will understand how to mint AI-generated artwork as NFTs, exploring the basics of blockchain technology, the minting process, and platforms for NFT transactions. This knowledge will empower you to enter the world of NFT art, potentially unlocking new ways to monetize their AI-generated creations. By the end of this chapter, you’ll be able to do the following:

• Create AI art for NFTs
• Create collections
• Upload to an NFT platform

Disclaimer

Creating an NFT can be a rewarding experience, but it’s important to be aware of the costs and risks involved, as well as the fluctuating nature of the cryptocurrency and NFT markets.

Technical requirements

In this section, we will use DALL-E 3 on Microsoft Bing Image Creator because it offers an easier way to keep your work organized within collections. Organizing your work in this way will make it easier and more efficient to determine which of your designs you will keep for your NFT project. Get started here:

• Use Bing Image Creator (https://www.bing.com/images/create) to create images and organize them into collections of work
• You will also need to use an NFT platform such as the following:
  • OpenSea: https://opensea.io/
  • Rarible: https://rarible.com/
  • Binance: https://www.binance.com/en-IN/nft/home

For this chapter, we will be using OpenSea, which launched in 2017 and hosts many popular NFTs. This platform is a solid choice as it offers an uncomplicated marketplace.

Understanding NFTs

An NFT is a unique digital asset that represents ownership or proof of authenticity of a unique item or piece of content, primarily using blockchain technology.

Blockchain technology

Blockchain technology is a secure, decentralized system that records transactions across many computers, ensuring data integrity. It consists of interconnected blocks containing transaction data, secured through cryptographic hashes. This technology enables transparent and direct transactions without intermediaries, supporting uses beyond cryptocurrencies, such as supply chain management (SCM) and digital identity verification, by offering an efficient framework for data verification and exchange.

Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and can be exchanged on a one-to-one basis, each NFT is distinct and cannot be exchanged on a like-for-like basis, hence the term “non-fungible.”

Some notable NFTs include Beeple’s Everydays...

Creating an NFT

Creating visual art for NFTs requires a blend of artistic creativity and an understanding of what resonates in the digital art market. While there’s no one-size-fits-all formula for success, certain elements often contribute to the appeal and value of NFT art:

• Originality and uniqueness: The most successful NFT art often features a high degree of originality. Unique concepts or distinctive styles stand out in the market. Authenticity in your creative expression can make your NFT more desirable. For example, BAYC stands out as a remarkable NFT collection, renowned for its originality and uniqueness. Each NFT features a distinct monkey character, differentiated by its own set of characteristics. Ownership of one of these NFTs not only signifies holding a unique piece of digital art but also grants exclusive access to a variety of physical perks.
• Storytelling or conceptual depth: Art that tells a story or has a deeper conceptual meaning can create a...

Creating collections

We are going to use Bing Image Creator for this project because it enables us to save our images in collections to better organize our work. Before we create our collections, we must have a clear idea of what we want to create. Let’s understand with the help of an example.

Say you come up with an idea to use Plastic Oceans and Marine Life as a collection. For this, each NFT could depict a different marine species entangled in or surrounded by plastics, highlighting the threat of pollution to their survival. This series can include animals such as sea turtles, seals, and various species of fish and whales.

Let’s consider another example—Urban Wildlife in a Plastic World. In this case, you can showcase endangered animals in urban settings, interacting with plastic waste. This could highlight how human urbanization and waste affect wildlife. You could generate images of birds building nests from plastic items, or urban foxes rummaging through...

Exploring NFT platforms

An NFT platform is a digital marketplace or service where users can create, buy, sell, and trade NFTs. As we’ve discussed, NFTs are unique digital assets verified using blockchain technology; this ensures their authenticity and ownership. NFT platforms play a critical role in the NFT ecosystem, providing a space for artists, creators, and collectors to interact. Here’s a breakdown of key aspects of an NFT platform:

• Blockchain technology: NFT platforms are built on blockchain technology, primarily Ethereum. The blockchain records all transactions, making them transparent and secure.
• Minting NFTs: Creators can “mint” digital items as NFTs on these platforms. Minting means creating a digital record of the artwork or item on the blockchain, thus turning it into a token that can be bought, sold, or traded.
• Marketplace: Most NFT platforms feature a marketplace where users can browse, buy, and sell NFTs. These marketplaces...

Summary

In this chapter, we learned the process of creating an NFT. We discovered how to set up a cryptocurrency wallet and list our NFTs on a platform to make them accessible in the marketplace.

Armed with this knowledge, you’re now equipped to launch your own NFT collection or help others in releasing theirs. Moving forward, the next chapter will delve into the art of designing covers for books, magazines, and various publications.