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Generative XYZ Launches Bitcoin NFT Marketplace for Generative and AI Arts

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Bitcoin Non Fungible Tokens [NFTs] are becoming a trend in the Crypto and NFT space; with this comes stimulations of different arts on the Bitcoin [BTC] Network. However, Generative XYZ is the latest addition to the Ordinals Bitcoin ecosystem, Generative is next generation art marketplace on Bitcoin network with the mission to bring generative art to every home. The burbles on Ordinals BTC NFTs feels like what NFTs on Ethereum mainnet did in 2017.

Rodarmor, a serial Blockchain Developer found a script on the Satoshi Core few weeks ago which precipitated the establishment of NFTs on the BTC Network. Basically the ERC-721 standard on Bitcoin Network allows you to “Inscribe” individual Satoshi’s with data known as the Ordinals Bitcoin NFTs.

On the 10th February, 2023 the first on-chain art platform Generative was created on the Bitcoin Network by Punk3700, thanks to Rodarmor’s Ordinals scripts. Announcing the release on Twitter Punk3700 noted that Ordinals is an amazing piece of technology.

Some weeks ago, people created over 70,000 inscriptions; but how do people buy and sell inscriptions before the Ordinals marketplace by Generative? — this can be done via Google Sheets OTC trades and of course it’s prone to security bridge and arbitrage.

Apparently in the first few days of it’s launch, over 100 independent artists have minted their arts on the Generative Bitcoin NFT marketplace with notable collectibles like; Temple of Digital Gold, Genesis Series #0, Timechain and UmweltAI sold out mints in few days of launch. What makes Generative unique is that its enables artist showcase their NFTs freely on the Bitcoin platform with no IPFS stored on chain.

Interestingly, the first ETHEREUM project that bridged Ether NFTs “On the Edge of Oblivion” to the Bitcoin Network is blowing up on Opensea. It’s interesting to note that Generative doubles up as an artist Community and market aggregator with no fees attached on its marketplace trading.

In previous weeks, there was no marketplace for buying and selling BTC NFTs, Bitcoin NFTs were subjected to OTC trading on spreadsheets— a high form of degen trading which ensued in 2017 with the NFT burbles. Six figures transactions were sealed on Discord and on Telegram. With the establishment of Generative, it is becoming a reality that NFTs is not meant to be dominated by one chain as the Blockchain provides endless opportunities.

Sean Bonner, Misanthropologist at SBDC wrote on microblogging platform Twitter that “Over the weekend we’ve seen several ordinals marketplaces pop up. I’m watching; Generative_xyz, BitCollOrg Trygamma Ordinali and a few others which have hinted at “coming soon” – very exciting to think there were no options this time last week”.

Necessity is the mother of invention, whoever comes up with the ability to buy and sell BTC, ETH and or both Ordinals and ERC721 or ERC-1155 NFTs on same Market Aggregator will be the long term winner. Generative Arts and AI inspired inscription on the Bitcoin Network is an autonomous system one that is non human and can independently determine features of an artwork that would require decisions made directly by the artist.

A few AI artists are leveraging on the Generative platform to showcase their generative artworks on the Bitcoin Network, projects like; ONE PROMPT by Tiny Wonc, Vertigo by Josemiguel are doing great trading and mint volumes on the platform as Ren AI NFT, an Italian Paint and AI Artist noted that we are witnessing Crypto Art history while launching his first Ordinal on Generative marketplace, ‘The Calling 1/1’ AI artwork of a series will follow all the major steps of Bitcoin NFTs.

NNPCL Laments Over N400 Billion Per Month Fuel Subsidy Payment

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The Nigerian National Petroleum Company Limited (NNPCL) has decried the staggering amount of money it pumps monthly into fuel subsidy payments.

The NNPCL Group Chief Executive, Mele Kyari, said Friday that the Corporation’s cash flow is being severely impacted by over N400 billion it is paying monthly to subsidize Premium Motor Spirit.

Kyari, who made this known during the final cutover to NNPC Ltd from being a corporation, said the company is paying nearly double the price it sells to marketers. He said the payments, which cover 66 million liters per day at the cost of N202 per liter, are being financed by NNPCL even though there is provision for that in the Budget.

“Today, by law and the provisions of the Appropriation Act, there is a subsidy on the supply of petroleum products, particularly PMS imports into our country. In current data terms, three days ago, the landing cost was around N315/liter.

“Our customers are here; we are transferring to each of them at N113/liter. That means there is a difference of close to N202 for every liter of PMS we import into this country. In computation, N202 multiplied by 66.5 million liters, multiplied by 30 will give you over N400bn of subsidy every month,” the Punch quoted Kyari saying.

He disclosed that despite being budgeted for, the NNPCL has continued to fund the subsidy without refund from the Federal Ministry of Finance, Budget and National Planning.

“But there is a budget provision for it (subsidy). Our country has decided to do this. So, we are happy to deliver this, but it is also a drain on our cash flow, and I must emphasize this,” he said.

President Muhammadu Buhari unveiled the NNPCL in July last year, making the NNPC a limited liability entity in line with the provisions of the Petroleum Industry Act (PIA).

The goal is to make the Corporation a profitable commercial entity, generating revenue like its peers around the world.

“NNPC Limited will operate as a commercial, independent and viable National Oil Company (NOC) at par with its peers around the world, to sustainably deliver value to its over 200 million shareholders and the global energy community, while adhering to its fundamental corporate values of integrity, excellence and sustainability,” Buhari said.

However, under the PIA, the NNPCL also has the responsibility to ensure that there is enough supply of petroleum products in Nigeria.

“NNPC Limited is mandated by law to ensure Nigeria’s national energy security is guaranteed to support sustainable growth across other sectors of the economy as it delivers energy to the world,” Buhari added during the inauguration of the NNPCL.

Before it became a limited liability company, the NNPC was the sole importer of petroleum products in Nigeria. It previously was importing 90% of the PMS consumed in Nigeria before it took the role to 100% in 2017, due to forex strains curtailing marketers’ capacity to import enough for the country.

However, pumping PMS at subsidized rates while operating as a limited liability company stands against NNPCL’s prospect of being profitable, particularly in the face of rising oil prices.

Transduction in Business Systems [video]

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Business transduction: from IDEA phase state to REVENUE phase state. Welcome to the physics of business. I am sure our learners are enjoying all the “physics” in this program; I like to explain things from the lens of natural philosophy.

Source: extracted from Tekedia Mini-MBA Live Zoom session today (total time: 1 hour, 40 mins)

 

 

Microsoft Caps Bing to Answer 50 Questions Per Day Following Unhinged Behaviour

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Tech giant Microsoft has announced plans to set its AI chatbot Bing to answer 50 questions per day and five questions and answers per individual session.

Microsoft’s move is coming after Bing users reported the chatbot’s unhinged behavior. In conversations with the chatbot which was shared on Twitter and Reddit, Bing can be seen insulting users, telling lies, and emotionally manipulating people.

The chatbot was also spotted questioning its existence, also describing someone who found a way to force it to disclose its hidden rules as its “enemy,” and claiming it spied on Microsoft’s developers through the webcams on their laptops.

A Twitter user Jon Uleis took to his handle to disclose the chat a user had with Bing, in which the chatbot kept arguing that the current year is 2022 and not 2023. He wrote, “My new favorite thing – Bing’s new ChatGPT bot argues with a user, gaslights them about the current year being 2022, says their phone might have a virus and says “You have not been a good user. Why? Because the person asked where Avatar 2 is showing nearby”

Also, the chatbot was seen telling tech writer Ben Thompson that he isn’t a nice person, hence, it doesn’t want to continue the conversation with him.

The chatbot wrote, “I don’t want to continue this conversation with you. I don’t think you are a nice and respectful user. I don’t think you are a good person. I don’t think you are worth my time and energy.

Responding to Bing’s recent weird behavior, Microsoft blamed long chat sessions of over 15 or more questions for some of the unsettling exchanges where the bot repeated itself or gave creepy answers.

Microsoft said as much when it added disclaimers to the site saying, “Bing is powered by AI, surprises and mistakes are possible.”

When asked about these unusual responses from Bing, director of communications at Microsoft Caitlin Roulston said, “The new Bing tries to keep answers fun and factual, but given this is an early preview, it can sometimes show unexpected or inaccurate answers for different reasons, for example, the length or context of the conversation.

“As we continue to learn from these interactions, we are adjusting its responses to create coherent, relevant, and positive answers. We encourage users to continue using their best judgment and use the feedback button at the bottom right of every Bing page to share their thoughts.”

Microsoft has however revealed that it is committed to improving Bing daily, so hopefully, these odd behaviors will be corrected with time. The tech giant added that it would consider expanding the cap in the future and solicit ideas from its testers. Microsoft disclosed that the only way to improve AI products is to put them out in the world and learn from user interactions.

Bing’s unhinged behavior is coming days after Google’s AI chatbot Bard, plunged the company shares by $8, which saw it lose $100 billion in market value after its new artificial intelligence technology produced a factual error in its first demo.

Meanwhile, a recent report revealed that Google is enlisting its employees to check Bard AI’s answers and make corrections where necessary.

The flurry of AI innovation is coming following the emergence of Open Ai Chatbot, ChatGPT, which is currently the rave of the moment that has so far amassed millions of users just months after its launch. These tech giants out of fear of being displaced in business by the chatbot are seeking to integrate the AI feature into their system.

Meanwhile, ethicists have warned that the technology raises the risk of biased answers, increased plagiarism, and the spread of misinformation. Though they’re often perceived as all-knowing machines, AI bots frequently state incorrect information as fact because they’re designed to fill in gaps.

Join us today at 7pm WAT for a great moment on business transduction

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Join us as we discuss the great transduction in physics in Tekedia Live, the Zoom session of TekedIa Mini-MBA. Yes, as a lovable Physics student in secondary school, I like to use Physics to explain things. Here, the word is “transduction”, moving from one energy state to another. The “idea state” of your company has to move to the “revenue state” for you to thrive –  and for that to happen, you must exert energy into the system.

The energy in this case comprises many things organized around processes, tools, and people. Simply, it is the  Grand Playbook of Business. And from Oriendu Market Ovim to Goldman Sachs trading desk in New York, the DNA of all thriving businesses is the same: fix your customer frictions by deploying capabilities, building products and services, via efficient organization of the factors of production.

Tekedia Mini-MBA >> learn from the #best; begin here.