Binance, the world's largest crypto exchange by trade volume, has announced the launch of its new non-fungible token (NFT) generator that's powered by artificial intelligence (AI).

Binance CEO Changpeng Zhao, popularly known as CZ in the crypto world, revealed Wednesday that the new NFT platform is called Bicasso, adding that the beta version of it was live for a limited 10,000 mints only, Bitcoin News reported.

"You can turn your creative visions into NFTs with AI. Give it a try and show me what you make with it. Beta version live now, limited to 10k mints," the Binance CEO wrote in a tweet.

Like leading AI-powered art programs, Bicasso lets users undertake descriptive prompts to allow the AI to leverage. People are able to upload pictures of a person, an animal or a landscape to create new photo designs.

During the limited beta test, Bicasso took images submitted by users and turned them into digital art within seconds, as per CoinTelegraph.

"BICASSO first pilot just completed with 10K NFT minted in 2.5 hours. The AI was a little stressed out, but caught its breathe now," Zhao noted in a separate tweet.

More than 9,900 users were able to create at least one NFT each as part of the pilot program, according to initial mint data. It is worth noting, however, that the resulting pictures are not available for resale.

Meanwhile, several eager users took to Twitter to share their creations using Bicasso.

"Me in a better world using the new AI creation tool on @BinanceNFT," one of them said.

"Just Mint My NFT with #Bicasso of @binance. Nice!" another shared.

"#Bicasso is a new AI-powered NFT generator that Binance released in beta on Wednesday. It allows users to create NFTs by typing in a creative prompt or uploading an image. Users can then mint their images as NFTs on Binance's native BNBchain. Do you want to try it out?" another user tweeted.

Binance witnessed a few glitches during the pilot in view of the high demand. Acknowledging the issues, the company said it was "working to increase the server abilities to reduce errors and to make the minting process smoother."

Furthermore, those who couldn't make the cut in the 10K beta version can sign up for the waitlist on the company's website.

Bicasso's launch came at a time when the crypto industry is facing unprecedented regulatory challenges, including a major clampdown on Binance USD. As a result, the exchange is exploring stablecoins pegged to other currencies. Coinbase previously announced that it would halt the trade of Binance USD starting March 13, Tech In Asia reported.

"As a result of this we probably will see more euro-based or other Japanese yen, Singapore dollar-based stablecoins, so it's actually prompted us to look for more options in different places," Zhao said in a chat on Twitter space, according to the outlet.

Illustration shows Binance logo and representation of cryptocurrencies
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