“As the metaverse economy grows and expands, the demand for NFT products will increase.
“Our technology is used by digital artists and metaverse enthusiasts alike,” explained Ben Kovalis, co-founder and CMO of ART AI and EpoLabs. “Our tools allow anyone to create new art that has never been seen before, from scratch, using artificial intelligence. Holders of our tokens receive free and unlimited access to an AI that they can use whenever they want to make art, even if they are physically unable to hold a pen.To date, our various algorithms and easy-to-use interfaces have been used to create over 2,000,000 different designs , by tens of thousands of different users.
According to the company, the NFT market size was $41 billion in 2021. “As the metaverse economy grows and expands, the demand for NFT products will grow rapidly,” he explained,
You can read more about the company and its founders below.
An interface that allows users to create art, in seconds, using a “text-to-art” generator that uses AI to create new designs based on user texts. We used the interface to auction an NFT collection of 10,000 coins in which users created their own NFTs. The project generated millions of dollars in profits within hours. Over 2 million designs have since been created by collection holders.
Ben Kovalis is the co-founder and CMO of ART AI and EpoLabs – known for launching the popular “Eponym” NFT collection. Previously, Ben was vice president of marketing and sales in Israel’s high-tech sector, specializing in international operations. An alumnus of Google and Facebook tech startup programs, Ben focuses on popularizing AI-generating NFT art. Ben has been featured on Forbes, Artnet, KUTV and many more.
Last investment cycle: $1,550,000
Last stage of investment: Seed
Date of last investmentsummer: December 2020
Total investment to date: $1.8 million
Investors (leaders and all): Rafi Gidron, among others
Current number of employees: 6
During these days of 2019, my partner Eyal Fisher was completing his doctorate. in Statistical Genomics at the University of Cambridge, and working extensively with image processing. When Eyal saw the results of the Edmond de Belamy auction, he was convinced that we could create a better algorithm to generate higher quality art.
We wanted to create a startup through which we will generate and sell thousands of unique designs at an affordable price and popularize the concept. To develop these AI art algorithms, Eyal has spent hours and hours developing deep AI technology since the company was founded. The algorithms improved as he progressed.
We have created algorithms capable of generating art using artificial intelligence. We have used this technology to sell AI-generated 1-on-1 art canvas prints to consumers around the world.
These days, ART AI is best known for our metaverse brand “EpoLabs”. Since October 2021, we have launched several web 3.0 projects, in which we have released our AI generation tools to allow anyone to generate art from text.
What is the product need?
Our technology is used by digital artists and metaverse enthusiasts alike. Our tools allow anyone to create new art that has never been seen before, from scratch, using artificial intelligence. Holders of our tokens receive free, unlimited access to an AI that they can use whenever they want to make art, even if they are physically unable to hold a pen. To date, our various algorithms and easy-to-use interfaces have been used to create over 2,000,000 different designs, by tens of thousands of different users.
How is the market changing?
We allow many to become digital creators based on their artistic preferences, even if they don’t have real experience or currently lack some of the necessary skills.
The biggest change we’ve introduced is to the NFT market.
Our first collection, Eponym, followed by “EpoStory” and EpoHeroes”, allowed users to create their own NFT, instead of collecting a random arbitrary design created by someone else. Eponym symbolized the start of what the today we call “AI-generative-NFT”.
Today, EpoLabs is ranked as the 55th most successful NFT collection in the popular “art” category. Create the most wanted and excited NFT collections.
What is the size of the market for the product and who are its main customers?
The NFT market size was $41 billion in 2021. As the metaverse economy grows and grows, the demand for NFT products will increase rapidly. Today’s customers are fans of deep technology innovation and early adopters. However, we see mass market adoption coming soon. A group of great investors on our board have supported us from the start of this market.
Does the product already exist? If not, at what stage is it and when is it expected to hit the market?
Indeed, our product exists and has been used by tens of thousands.
ART AI’s first website started generating revenue from the day it was founded. Our product-market fit improved significantly after the creation of NFT technologies, so we decided to focus on this area as a strategy. We could expect more opportunities in the coming years since we are only at the beginning of the Web 3.0 revolution.
Who are the main competitors in this sector and how big are they?
The NFT market is highly competitive, with new competition starting every day. Fortunately, we were able to establish EpoLabs as a leader in generative NFT art and connect with leaders in the NFT space, with whom we communicate daily.
What is the added value that the founders bring to the company and the product?
Ben Kovalis – Co-founder and CMO of ART AI and EpoLabs. I was previously Vice President of Sales and Marketing at an Israeli fintech company, managing over 80 employees in five different countries, specializing in creating viral marketing content in different languages, and managing an international sales operation of online products. Even though ART AI’s services are quite different, my experience in international online sales and marketing has helped me a lot.
Eyal Fisher – co-founder and CEO of ART AI. Eyal was studying for a doctorate. at the University of Cambridge, working on microscopy image analysis. Eyal came up with the idea for the first algorithm behind ART AI, which led to the creation of the company. Previously, Eyal worked as a consultant in the field of AI, working in digital health and bioinformatics. During Eyal’s military service, he served in an elite tech unit.
We founded the company with Guy Haimovitz, who left the company at the end of 2021, just before launching our web 3.0 operation. Today, Guy works as a developer for a high-tech company.
What will the money from the round be used for?
As mentioned earlier, we are not interested in fundraising as we are able to generate profit using our existing technology.
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