Will AI rewrite history? 📜 ✍️

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

Hello y'all. This is The Token Dispatch. What would life be without our dispatch? AI can you please dream a lovely dream for all of us #HighOnAI

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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 👇

Javi Lopez ⛩️ @javilopen

The topic of the modern Pope generated by AI (#midjourney) is getting out of hand for us 😂 💬 Prompts in ALT

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. 

Reasons:

• Trial abuse, deep fakes

• Excess demand

• Users signing up for multiple free trial accounts

Yeah yeah, AI is fun, but also:

Justine Moore @venturetwins

Something wild is happening on the Midjourney subreddit. People are telling stories and sharing photos of historic events - like the “Great Cascadia” earthquake that devastated Oregon in 2001. The kicker? It never happened. The images are AI-generated.

 And this Trump arrest images crossed the lines (or did they?)👇

Eliot Higgins @EliotHiggins

Making pictures of Trump getting arrested while waiting for Trump's arrest.

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:

Brian Armstrong @brian_armstrong

Count me among the people who think this is a bad idea. There are no “experts” to adjudicate this issue, and many disparate actors will never agree. Committees and bureaucracy won’t solve anything. As with many technologies, there are dangers, but we should keep marching… https://t.co/TAD2t667Yk

Gary Marcus @GaryMarcus

a big deal: @elonmusk, Y. Bengio, S. Russell, ⁦⁦@tegmark⁩, V. Kraknova, P. Maes, ⁦@Grady_Booch, ⁦@AndrewYang⁩, ⁦@tristanharris⁩ & over 1,000 others, including me, have called for a temporary pause on training systems exceeding GPT-4 https://t.co/PJ5YFu0xm9

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. 

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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?

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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."

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TTD Check it out

Unstoppable Domains wants you to mint your AI avatars as NFTs on Polygon. The PFPs minted are available for purchase on OpenSea. AI creators are in demand. Anyone for Bicasso? Thank you CZ.

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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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