LinkedIn co-founder, Reid Hoffman, is beginning another venture as he has launched an NFT collection, titled ‘Untranslatable Words’ on Solana. The collection, which is DALL•E (AI image generator) arts turned into NFTs, with the first of 11 pieces being available for auction on the Magic Eden marketplace.
The Artwork and NFTs of ‘Untranslatable Words’
Reid Hoffman has launched the first 1/1 out of a collection of 11 pieces. Before launching the collection, ‘Untranslatable Words’, he took to Twitter yesterday and said: “Inspired by the potential of DALL•E and NFTs — and the possibilities that they unleash together — my team and I have created a number of small image collections that we’ll be tokenizing as NFTs.”
Through a long thread on Twitter, the LinkedIn co-founder, Hoffman explained in great detail why he is experimenting with the combination DALL•E and NFTs. Some of his reasoning included the fact that a single word is worth a thousand pictures with the software, instead of the contrary which is usually true. Additionally, he commented on the mix of digital abundance and digital scarcity. The full thread can be seen here.
To clarify, DALL•E is an AI system that allows users to type in a search query. Then realistic artwork will be generated based off of what they say. It has been going viral on social media over the past few weeks, with people creating memes around it, too. Wired referred to it as “the internet’s favourite AI meme machine”.
Currently, the first of 11 is available for auction on Magic Eden, the primary marketplace of the Solana blockchain. With around seven hours to go, the highest bid sits at 19.5 SOL, or around $850.
About Reid Hoffman, LinkedIn Founder
Reid Hoffman is an American entrepreneur and author from California. He is best known for co-founding LinkedIn, one of the world’s biggest social platforms, where he continued as an executive chairman after being the companies founding CEO.
On the Forbes 2021 list of the world’s billionaires, Hoffman was ranked #1580 with a networth of $2.4 billion. That mostly came from his stake in LinkedIn.
Before LinkedIn, Hoffman was also a member of the board of directors at PayPal during their founding times, before joining the company as the COO.
Now, he sees himself as a partner at the venture capital firm, Greylock Partners. Also, he is a co-founder of Inflection AI. His interest in AI and modern technology is clear, as mirrored through his new NFT collection.
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