The changing world has caused art to evolve as well. The art world is moving beyond traditional galleries and museums towards an era where digital assets come to the fore. It is during this period that the concept of a “decentralized autonomous artist” managed by a DAO (Changeable Autonomous Organization) emerges, and BOTTO’s story has come to the fore in recent days as a successful example of this new approach. Here are the details.
Technically, Botto is a decentralized, AI-powered artwork generator that leverages VQGAN + CLIP, GPT-3, and a number of proprietary algorithm tools. He produces often surreal images in a variety of styles. BOTTO emerged as the native cryptocurrency of this artificial intelligence project. BOTTO manages the process from creation to sale of artworks by a DAO rather than a central authority. This offers artists and collectors the opportunity for greater control and participation.
Recently, BOTTO has achieved remarkable success. In just one week, the altcoin has made a big splash, with its market cap more than doubling: over 130% in the last seven days. The altcoin price has increased from $0.13 to over $0.32 since the previous Monday.
With this rise, BOTTO’s net market value exceeded 10 million dollars for the first time. At press time, BOTTO’s market cap appears to be pegged at around $12 million.
Famous Venture Fund BOTTO is on the rise
Caleb Shough, Variant CFO and COO, explained that he is excited by the uniqueness of the protocol and the results of AI-powered image generation processes.
Alongside BOTTO’s rise, another AI cryptocurrency, Fetch.AI (FET), recently surged 55%.
You can follow the current price movement here.