The problem Algo-X-NFTs solves

The key to unlocking more value for the NFT artists is by providing them more IP to own, including the algorithm behind the NFT copies. Experimenting with newly-collated datasets and training procedures is time-consuming and expensive, meaning that artists are highly protective of these assets. However, recent private AI and decentralized marketplace (e.g. Ocean Protocol) technologies may enable artists to monetize their datasets and models while maintaining control and privacy. This has the added advantage of unlocking more value for artists and NFT enthusiasts through tokens, liquidity pools and staking.

Creating a Data-economy for Artists:

An ART-DAO model where artists also have ownership over the Algorithm IP. There are multiple potential benefits to creating a data economy around the datasets and models of artists. If we were able to make certain guarantees to artists on maintaining control and privacy of assets, it could facilitate interesting collaborations between artists on different combinations of datasets and models

The Algovera communtiy led by Richard has aimed to solve the problem since the time of the hackathon announcement with a Generative Algorithm marketplace solution that makes way for more data-scientists to participate in the NFT palatte to support more artists. The working proof of concept aims to go towards a concept where people would be able to monetize their algorithms that can be accessed through tokenized uri that leads to the private repositories of algorithms.

Another possibility with Web3 is to create autonomous artificial artists that generate art based on economic and social interactions with humans. The Abraham.ai project are currently working on building out this technology. These artists can be thought of as AI Art DAOs that aim to maximise their treasury by modifying the internal parameters of their generative model based on their success with selling output images.

More details below:

https://bit.ly/3oLJZ3e

Challenges we ran into

During the course of hacking sessions, we encountered ways to solve this aspect through re-hacking the algorithm behind Crypto-punks using STYLEGANS2 through a decentralized AI approach. The Ocean marketplace did not solve all our problems with the C2D modules, so we had to come up with a working Proof of concept that conveyed the idea of Algorithm marketplace.

We have arrived at a fair ideation of the marketplace as to how we can help future NFT 'algorithm' artists to monetize their GANS modules to come up with innovative art solutions.

Hence, the hacking of Cryptopunks gave us the re-invention of monetiziting algorithms behind popular and upcoming artworks.

With Algovera, we’ve been working on a Proof of Concept for bringing access to generative models on-chain using the Ocean marketplace. We just published an algorithm for training a simple generative model on a private dataset using Compute-to-Data. This algorithm was developed by a decentralized group of 21 individuals that includes data scientists and artists during our weekly hacking sessions. Our mission is to start a creator economy around data science and AI applications and work towards decentralizing AI. We’re passionate that AI models should be owned by a community of individuals rather than one centralized party. To explore new ownership models for algorithms, we launched a DAO and distributed the membership tokens equally among contributors. The role of this DAO is to govern the model and control the flow of any value generated.