BNB Chain hackathon winner accuses Binance of stealing AI-powered NFTs idea

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Cryptocurrency exchange Binance has been accused of “blatantly” copying the winner of the BNB chain hackathon after launching Bicasso, an artificial intelligence-based non-fungible token (NFT) creation tool. Binance is said to have stolen a tool created by Chatcasso just two months after he won first prize at the BNB chain hackathon held in Seoul on December 17-19, 2022. I’m here.

Binance CEO Changpeng “CZ” Zhao on March 1st announced Launch of Bicasso, an artificial intelligence (AI) product that can be used to “transform your creative vision into NFTs with AI”. However, community his member “ggoma” believes that Binance copied and promoted his Chatcasso project as its own.

“Keep making” – @cz_binance Said.

What he didn’t say – “If you guys do it right, I’ll blatantly copy it and ship it as a product!”

Binance Stole Our Project Won 1st Place in BNB Chain Hackathon https://t.co/ejc5Z7w9o1

— Sesame (@0xggoma) March 2, 2023

Binance, on the other hand, dismissed the plagiarism accusation. A Binance spokesperson told Cointelegraph that Bicasso is an experimental project that his small team at Binance built as a test, and that NFTs and AI are common areas many industry players are working on. said to be a concept.

Chatcasso won first place in the BNB Chain Hackathon and received $5,000 in Binance USD (BUSD) for creating AI-powered tools for creating NFTs.

However, ggoma was shocked to see Binance launch a similar platform within two months, stating:

“Is a big company like Binance copying everything down to the name? Not only is this unethical, it confuses users.

Additionally, ggoma shared screenshots of the two projects to showcase the similarities in user interface and functionality.

Binance claims that similarity does not imply theft of ideas. A spokesperson for the exchange told Cointelegraph:

“Despite the similarities, after conducting an internal review, we believe Bicasso was independently designed and developed over two weeks prior to the BNB Hackathon.”

Additionally, Binance and the BNB Chain operate separately, and the Binance development team was not involved in the BNB Chain hackathon, the spokesperson said.

Binance told Cointelegraph that Bicasso’s name refers to artist Salvador Dali and was inspired by the OpenAI tool Dall-E, adding that “our team really liked the concept.” rice field.

Throughout this episode ggoma became skeptical about participating in hackathons in the future, as they wondered if market leaders would rebrand their innovative ideas at a later stage. “I hope Binance recognizes the impact of their actions and takes steps to right their wrongs,” Goma said while warning the builders, “There are companies out there trying to take advantage of your efforts. There is,” he added.

Binance’s Bicasso was an instant hit among NFT investors as its AI-powered NFT generator hit 10,000 mints in 2.5 hours.

Related: Binance launches anti-fraud campaign after trial in Hong Kong

CZ recently warned investors that Photoshopped images containing false information were circulating on Chinese social media platform WeChat.

Someone photoshopped this and spread it widely on WeChat in China. It says that our team was shot by the FBI, with whom we work closely… ‍♂️ 4. pic.twitter.com/2Iz7c1QgA8

— CZ Binance (@cz_binance) March 3, 2023

CZ further emphasized the importance of ignoring fear, uncertainty and doubt, and advised investors to ignore the false claims that sometimes surface.