South Korean blockchain-based community platform Steemhunt has accused Binance of stealing its Artificial Intelligence-based NFT product Chatcasso. Binance’s NFT product’s name is Bicasso and the similarity between the name and features could stifle the Korean firm’s innovation, according to a representative.
Binance’s Bicasso similar to South Korean Steemhunt’s Chatcasso
South Korean blockchain-based community platform Steemhunt has accused Binance of stealing its AI-based NFT product. A Steemhunt representative was dissatisfied with Binance’s launch of its NFT product Bicasso, accusing the exchange platform of stifling innovation.
Steemhunt therefore claims that Binance stole its product idea for Chatcasso, and launched its own product Bicasso. CZ recently announced the beta release of Bicasso in a tweet and touted it as a new generative AI-powered NFT platform.
Chatcasso won first place in the BNB hackathon held in Seoul in December 2022. Chatcasso is promoted as a tool that turns creative visions into NFTs with AI and that is the same manner in which Binance is promoting its new NFT product.
Steemhunt claims that Binance’s move is unethical and confusing for users. The names are similar and at the same time, a company that claims to support innovation is stealing ideas, according to the Chatcasso representative.
The ongoing investigations in the cryptocurrency exchange and allegations of intellectual theft have had no significant impact on BNB prices. BNB is trading at $291.12 at the time of writing.
Ekta Mourya(2023.03.04) “Binance accused of intellectual theft by a South Korean firm, what to expect from BNB?”
retrieved from https://www.fxstreet.com/cryptocurrencies/news/binance-accused-of-intellectual-theft-by-a-south-korean-firm-what-to-expect-from-bnb-202303041259
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