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

Published on

March 5, 2023
Read Time:2 Minute, 57 Second

Crypto alternate Binance has been accused of “blatantly” copying the winner of the BNB chain hackathon following the launch of Bicasso – an AI-based non-fungible token (NFT) creation device. Binance reportedly tore down a device created by Chatcasso simply two months after profitable first prize at a BNB chain hackathon held in Seoul on December 17-19, 2022.

On March 1, Binance CEO Changpeng “CZ” Zhao announced the launch of Bicasso, a man-made intelligence (AI) product that “can flip your inventive visions into NFTs with AI.” Nonetheless, neighborhood member “ggoma” believes that Binance copied the Chatcasso challenge and promoted it as its personal.

"Proceed constructing" - @cz_binance referred to as.

What he did NOT say: "When you guys construct it properly, we'll overtly copy it and ship it as our product!"

Story of Binance stealing our challenge, we received 1st place in BNB Chain Hackathon https://t.co/ejc5Z7w9o1

— ggoma (@0xggoma) March 2, 2023

Binance, then again, rejected the allegations of plagiarism. Chatting with Cointelegraph, a Binance spokesperson mentioned Bicasso is an experimental challenge constructed by a small workforce at Binance as a check, and that NFTs and AI are frequent ideas that many business gamers are engaged on.

Chatcasso received first prize within the BNB Chain Hackathon for creating an AI-powered NFT creation device and obtained $5,000 in Binance USD (BUSD).

Chatcasso received first prize on the BNB Chain hackathon in December 2022 in Seoul. Supply: Twitter

Nonetheless, Ggoma was shocked when Binance launched an identical platform inside two months, stating:

“An enormous firm like Binance copying all the things however the title? This isn't solely unethical but in addition complicated for customers. The names are so comparable it is exhausting to inform them aside.”

Moreover, ggoma shared screenshots of the 2 initiatives to exhibit the similarities between the UI and options.

Screenshots exhibiting similarities between Chatcasso and Bicasso platforms. Supply: Twitter

Binance claims that the similarities don't suggest idea-stealing. The alternate spokesman informed Cointelegraph:

"Regardless of the similarities, after an inside overview, we're assured that Bicasso was independently designed and developed greater than two weeks earlier than the BNB hackathon."

As well as, Binance and BNB Chain function individually, and the Binance growth workforce shouldn't be concerned in BNB Chain hackathons, the spokesman mentioned.

Binance clarified to Cointelegraph that the Bicasso title was impressed by the OpenAI device "Dall-E," which referred to artist Salvador Dali, including, "Our workforce beloved that idea."

The entire episode left Ggoma skeptical about taking part in hackathons sooner or later, as he puzzled if a market chief would rebrand revolutionary concepts at a later date. "We hope Binance acknowledges the affect of their actions and takes steps to right their errors," Ggoma added, warning builders that "there are firms on the market that may attempt to benefit from your exhausting work."

Binance's Bicasso turned an immediate hit amongst NFT traders as its AI-powered NFT generator logged 10,000 mints in 2.5 hours.

Associated: Binance launches anti-scam marketing campaign after pilot in Hong Kong

CZ not too long ago warned traders {that a} misinformation Photoshopped picture was circulating on WeChat, a social media platform in China.

Somebody Photoshopped this and it has been extensively shared on WeChat in China. It says I used to be shot by the FBI, who our workforce works intently with... ‍♂️ 4. pic.twitter.com/2Iz7c1QgA8

— CZ Binance (@cz_binance) March 3, 2023

CZ additionally burdened the significance of rejecting worry, uncertainty and doubt and suggested traders to disregard false accusations that sometimes surfaced.



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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : March 5, 2023
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