Filecoin’s Protocol Lab Launches Waterlily: An AI-Generated Digital Art Platform

On April 28, it was reported that Protocol Lab, the development company behind Filecoin, announced the launch of the AI generation digital art platform “Waterlily”. This platform combines Bacalhau distributed computing and FVM smart contracts. Users can choose their own style to create generative AI images, and Waterlily will directly pay royalties to artists. （onlinewiki）

Protocol Labs launched the AI generation digital art platform “Waterlily”

In a recent announcement on April 28th, Protocol Lab, the development company behind Filecoin, unveiled its latest creation – the AI-generated digital art platform, Waterlily. The platform combines Bacalhau distributed computing and FVM smart contracts, which allows users to create generative AI images of their own preferred style. Waterlily is essentially a marketplace where artists can display their work and receive royalties through the platform. In this article, we will delve deeper into the workings of Waterlily, its features, benefits for artists, and its impact on the digital art industry.

How Does Waterlily Work?

Waterlily is a decentralized application that uses peer-to-peer networks to operate. It is built on Filecoin, a decentralized storage network that provides secure and reliable data storage. The platform uses Bacalhau systems for its computing power and FVM smart contracts for transactions between buyers and artists. Waterlily operates on the Ethereum blockchain, which enables it to be immutable, transparent, and censorship-resistant.
The platform offers users the ability to create generative AI images, which are unique and distinct. These images are created using different styles, including sketch, painting, and abstract. Bacalhau distributed computing provides the platform with the necessary computing power to generate these images. Once the images are created, they are verified on the Ethereum blockchain, and FVM smart contracts are used to ensure that the payments are made directly to the artists.

Features of Waterlily

Waterlily offers users a range of features that make it a suitable platform for artists looking to showcase their work. These features include:

Generative AI Images

Waterlily allows users to create generative AI images using different styles. These images are unique and cannot be replicated, making them valuable assets for artists.

Decentralized Marketplace

Waterlily is a decentralized application that allows artists to display their work on a peer-to-peer network. This eliminates intermediaries like art galleries, which can be expensive for artists.

Instant Payments

Waterlily uses FVM smart contracts to ensure that payments are made instantly to artists. This eliminates delays and ensures that artists are paid for their work.

Secure and Private

Waterlily is a secure and private platform that ensures that artists’ details are encrypted and cannot be accessed by third parties.

Royalties

Waterlily pays royalties to artists for every sale made on the platform. This allows artists to earn a steady income from their work.

Benefits for Artists

Waterlily offers several benefits to artists looking to showcase and monetize their digital art. These benefits include:

Accessibility

Waterlily is accessible to artists from all parts of the world. This allows artists to reach a wider audience and showcase their work to art lovers and collectors.

Fair Compensation

Waterlily pays royalties to artists for every sale made on the platform. This ensures that artists are fairly compensated for their work.

Elimination of Intermediaries

Waterlily eliminates intermediaries like art galleries, which can be expensive for artists. This allows artists to display their work at a lower cost.

Immutable and Transparent Transactions

Waterlily ensures that all transactions are immutable and transparent, providing artists with a secure and reliable platform to showcase their work.

Impact on the Digital Art Industry

Waterlily has the potential to revolutionize the digital art industry by providing artists with a platform to showcase their work without intermediaries. This will allow more artists to enter the digital art market and create a diverse range of artwork. Moreover, the peer-to-peer network provided by Waterlily ensures that digital art can be validated and verified, making it more valuable.

Conclusion

Waterlily is a revolutionary platform that allows artists to showcase their digital art without intermediaries. The platform provides users with the ability to create generative AI images of their preferred style, and payments are made instantly using FVM smart contracts. Waterlily’s impact on the digital art industry can be significant, and it has the potential to create a more democratic and accessible market for artists.

FAQs

Q1. What is Waterlily’s target audience?
A. Waterlily’s target audience is artists looking to showcase their digital artwork.
Q2. How does Waterlily ensure the security of transactions?
A. Waterlily uses FVM smart contracts to ensure that transactions are secure and immutable.
Q3. Is Waterlily compatible with other platforms?
A. Waterlily is built on Filecoin and operates on the Ethereum blockchain, making it compatible with other Ethereum-based platforms.
#