Nftnews Today 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 from Dec. 17–19, 2022.

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

“Maintain constructing ” – @cz_binance stated.

What he DIDN’T say – “In the event you guys construct it effectively, we’ll blatantly copy it and ship it as our product! “

Story of Binance stealing our undertaking we gained 1st place on the BNB Chain hackathon https://t.co/ejc5Z7w9o1

— ggoma (@0xggoma) March 2, 2023

Binance, however, dismissed the accusations of plagiarism. Chatting with Cointelegraph, a Binance spokesperson stated Bicasso is an experimental undertaking constructed by a small group at Binance as a check, and that NFTs and AI are frequent ideas labored on by many trade 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).

Nonetheless, ggoma was shocked to see Binance launch the same platform inside two months, stating:

“A giant firm like Binance copying all the things all the way down to the identify? It’s not solely unethical, however it’s additionally complicated for customers. The names are so comparable that it’s onerous to inform them aside.”

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

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

“Regardless of the similarities, after conducting an inside overview, 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 group isn’t concerned in BNB Chain hackathons, stated the spokesperson.

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

Your complete episode has made ggoma skeptical of coming into hackathons sooner or later, as he questioned if a market chief would rebrand revolutionary 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 corporations on the market who will attempt to benefit from your onerous work.”

Binance’s Bicasso turned an on the spot hit amongst NFT traders because the AI-powered NFT generator recorded 10,000 mints in 2.5 hours.

Associated: Binance launches anti-scam marketing campaign after Hong Kong pilot run

CZ not too long ago warned traders {that a} photoshopped picture with misinformation was circulating on WeChat, a social media platform in China.

Somebody photoshoped this, and it received unfold extensively on WeChat in china. It says I received shot by the FBI, whom our group work with intently… ‍ 4. pic.twitter.com/2Iz7c1QgA8

— CZ Binance (@cz_binance) March 3, 2023

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