Artist Behind $69 Million NFT Says AI No Panacea for Sector Rout

The intersection of artificial intelligence and nonfungible tokens provides no simple antidote for the slump in the market for digital collectibles, according to the artist Beeple.

Proponents of AI-generated art claim it offers a new type of interactive creativity that can be tied to NFTs to potentially reignite interest in that marketplace, where activity has tumbled since a peak in 2022.

But Michael Winkelmann, better known as Beeple and famed for his Everydays NFT artwork that fetched $69.3 million in 2021, said on Bloomberg Television that “AI isn’t some sort of quick fix to give value to NFTs.”

WATCH: Artist Mike Winkelmann, aka Beeple, joins Caroline Hyde and Ed Ludlow on Bloomberg Technology.

Source: Bloomberg