Recap of aiRight introduction video part II — utilizing Oraichain ecosystems and NFT x DeFi
With the release of aiRight just around the corner, Oraichain is excited to share details about the ecosystem that will change the landscape of the NFT movement. Fraud and forgery are common throughout the art world and to the undiscerning eye, a fake can very well appear as authentic as the original. Oraichain sets out to solve the origin problem once and for all, developing aiRight: a patent pending AI NFT generator, copyright issuance and managing service.
Part 1: https://www.youtube.com/watch?v=V04UkwTPFQY
Part 2: https://www.youtube.com/watch?v=htL914fbH_Y
Using aiRight you can create a unique piece of AI-generated art and guarantee originality with the aid of many Oraichain’s AI Oracles. An automated program crawls across multiple blockchains for NFT smart contracts, then an oracle converts each work into feature vectors, then creates a database from which originality can be measured by another oracle. Only unique works can be minted on the Oraichain Mainnet with proofs of origin. Since our last walkthrough, aiRight released the NFT Database and Originality Check feature, available at https://airight.io/original-check. Simply upload your NFT and begin your journey. Explore similar NFTs and discover the uniqueness of your artwork!
Today, we introduce the OW721 token, an extended standard of the BEP721 and ERC721 Tokens, and give you a taste of what can be done with your freshly minted NFT on the Oraichain Mainnet. Oraichain Mainnet provides the complete ecosystem to aiRight, including AI Oracles, token smart contract, wallet, marketplace, and now, introducing Gallery, Gallery fundraising, and DeFi opportunities.
In case you missed the Oraichain Studio Live Demo, check it out to learn how the OW721 token is developed on Oraichain and better, mint one yourself! The recap is at https://link.medium.com/lB1IUXa6Lfb.
To start, it’s important to remember that all transactions using aiRight and the Oraichain NFT Marketplace require the ORAI token! Users must have ORAI to make transactions on the Mainnet, where all information regarding history, origin proof, ownership, price history, and auction data will be recorded and stored.
When putting an NFT up for sale, the owner has the option of either selling the piece at a set price or listing it for auction, where they can accept a bid at any time. As you collect your AI generated NFTs, there’s more to do with aiRight than simply re-listing on the marketplace. You can team up with other community members to create and join themed galleries, while retaining ownership of your NFTs. The initial galleries will be provided by the Oraichain team, including a number of different AI-generated NFTs and charity collections.
There are two types of galleries owners can create: tokenizable galleries and exhibition galleries.
A user pays ORAI tokens to create a gallery. In exchange, they receive gallery tokens. Any other NFT owner can sell their NFTs into galleries then receive gallery tokens from the gallery owner or members. In short, the gallery owner or anyone with a proper amount of gallery tokens can pay to become the owner of the NFT. For any NFT owner who doesn’t wish to lose the ownership, the gallery tokens are used to redeem your NFT and retain the ownership.
Update (19 May 2021): Since the introduction of AIRI token for aiRight, a user needs AIRI tokens to create a gallery.
Gallery token holders can benefit from Yield Farming on BSC. aiRight supports Gallery owners to create the gallery token/BNB pair on PancakeSwap and add liquidity to the pair. The gallery token/BNB liquidity providers receive CAKE-LP tokens, which can then be deposited into the aiRight Farming vault to receive special rewards.
These gallery tokens can also be traded on many decentralized exchanges and acquired to make purchases of NFTs from a gallery exhibition. If you are the owner of any NFT in the gallery, you can withdraw at any time you desire.
Alternatively, you can deposit your NFT into a gallery for exhibition only. By doing this, you can retain the ownership and receive a share of exhibition fees and fundraising when there is.
Oraichain is built with the developers in mind and continuously shares tools for them to increase their productivity, testing, flexibly expanding their creations on application logic. aiRight serves as a strong demonstration of Oraichain’s potential. Providing both AI Oracle solutions and a complete blockchain ecosystem, Oraichain is the backbone of these developments, opening the door for attractive and complex projects. With the launch of Oraichain Studio, you can experiment and prepare to launch ecosystems of your own on Oraichain or any other platforms built with Cosmos SDK.
About Oraichain
Oraichain is the world’s first AI-powered oracle and ecosystem for blockchains. Oraichain data oracle platform aggregates and connects Artificial Intelligence APIs to smart contracts and regular applications. Founded by Dr. Chung Dao, Oraichain’s mission is to be the portal between AI and blockchain technologies, serving as a foundational layer for the creation of a new generation of smart contracts and Dapps leveraging AI.
Unlike regular oracles using raw data, Oraichain’s AI Oracle uniquely uses AI APIs to process and create data on the fly via virtual machines on smart contracts. Data quality, reliability, and security are enhanced by using test cases, which help to avoid intermediaries, increase trust, and open up unprecedented application functionalities.
Beyond data oracles, Oraichain interconnects Artificial Intelligence and Blockchain technologies. With AI as the cornerstone, the Oraichain ecosystem contains an AI marketplace, a Data & Request Hub, Publisher Service, Training Service, and Dapp Hosting.
Oraichain network provides the infrastructure and consensus mechanisms for Blockchain and AI training. These interconnected ecosystems accelerate the development of Web3, DeFi, enterprise, and academia applications. yAI.finance is the first use case of Oraichain, a DeFi platform using unique AI-based features and strategies. aiRight brings AI NFT creation and copyright generation to Blockchain. Oraichain AI Marketplace offers AI products and APIs with the goal of becoming the one-stop shop for Artificial Intelligence services.
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