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Midjourney shuts off access to its free trial version amid AI image madness. Citi Bank predicts trillions in assets could be tokenised by 2030. Flybondi airline is issuing e-tickets as NFTs
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The Pope has been recreated, reimagined and rechristened by AI in avatars and forms we didn’t even imagine. Pope Francis sporting a trendy puffer jacket and a diamond-encrusted necklace … anyone?
All it needed was prompts, smart prompts and Midjourney's text-to-image AI generator did the rest. Check out this thread 👇
This, spiralled up and out of control. One thing led to another, and the company had to hit the kill switch on their free trial version.
Trial abuse, deep fakes
Users signing up for multiple free trial accounts
Yeah yeah, AI is fun, but also:
And this Trump arrest images crossed the lines (or did they?)👇
So, Midjourney had to halt free trials on March 28. Btw, their terms of service already prohibit users from creating offensive images of celebrities or public figures.
Midjourney had also launched a monthly magazine featuring curated artwork and interviews with community members and announced that Google Cloud would be its infrastructure supplier.
ChatGPT is also facing the heat:
Overnight popularity, cool and cooler updates, and big people involvement - has to raise some eyebrows. The Center for AI and Digital Policy has even filed a complaint with the FTC, accusing OpenAI of violating regulations on deceptive and unfair practices. They're calling it biased, deceptive, and a risk to privacy and public safety. Yikes!
"We believe that the FTC should look closely at OpenAI and GPT-4."
Tech figures already agree:
Elon Musk, Steve Wozniak, and Andrew Yang— Put their digital signatures on an open letter requesting a break on building AI systems that are more potent than GPT-4.
"We call on all AI labs to immediately pause for at least 6 months the training of AI systems more powerful than GPT-4," they say.
Coinbase CEO Brian Armstrong is not buying it:
He tweeted his disagreement and even warned against central authority, committees, and bureaucracy. Meanwhile, Coinbase is using ChatGPT to review tokens for security, which is pretty impressive.
Why not sponsor us, eh?
Trillions in assets could be tokenised by 2030
Citi is all optimistic, says blockchain will have "billions of users and trillions of dollars in value." The bank is the next to experiment with the blockchain tokenisation of real-world assets. Called it a "killer use case," predicted a $4 to $5 trillion market reach by 2030 - 80x from what it is now.
According to Citi, out of the $5 Trillion:
$1.9 Trillion - in the form of debt
$1.5 Trillion - real estate
$0.7 Trillion - private equity and venture capital
$0.5-1 Trillion - securities
Also, the mass adoption of crypto will be powered by CBDCs?
TTD NFT adoption
Imagine if you can buy your flight tickets without declaring who is travelling? Well, that is happening. NFTs are making it possible.
Flight ticket that’s an NFT
Flybondi, Argentinian low-cost airline is issuing e-tickets as NFTs. The Web3 integration is called Ticket 3.0 and is an expansion of its existing relationship with NFT ticketing company TravelX. The NFT ticketing technology, built on the Algorand blockchain, allows passengers to change their name, transfer or sell their "NFTickets" independently.
Flybondi is positioned to reduce customer service costs and increase its revenue from trading fees. In return, passengers get NFT ticket that "offer a more flexible travel experience, buy in advance without having to define their travel plans or who the travellers will be."
TTD Check it out
TTD Surfer 🏄
Ex-Binance US CEO Catherine Coley hires Sullivan & Cromwell partner James McDonald as her attorney for CFTC lawsuit.
Solana-based crypto exchange Raydium proposes $2M bug bounty fund, wants to boost its community’s participation in protocol governance.
A new Texas senate bill seeks to introduce restrictions on Bitcoin mining activities in Texas, while also reducing incentives for the industry.
The New York based Pace Gallery holds first Web3 solo exhibit featuring Tyler Hobbs, under its Web3 art division, Pace Verso, QQL: Analogs
Sam Bankman-Fried lawyers have entered a not-guilty plea for five additional charges, including allegations of bribery.
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The Token Dispatch is a daily newsletter that takes you on a 4-5 minute drive through the wild west of the Crypto World. Daily in your email inbox @13:00 GMT. Almost always.