According to Decrypt, Pika Labs has announced the launch of Pika 1.0, an AI video generation tool that aims to merge advanced AI capabilities with user-friendly features. The tool comes out of beta just six months after the company's inception and serves Pika Labs' vision of enabling everyone to become their own video director, democratizing the field of video production.
Pika 1.0 offers features like Text-to-Video, Image-to-Video, and Video-to-Video conversions, allowing users to transform and enhance videos in various ways. The video generation tool is now accessible both on Discord and via the web on mobile and desktop platforms. Influential figures in the crypto space, including the co-founder of Solana and Alexis Ohanian, co-founder of Reddit, praised Pika's launch.
Many in the crypto community believe generative AI could invigorate the NFT market, providing creators with novel ways to bring their digital visions to life and offering collectors unique, AI-crafted digital assets. Pika Labs also announced that it raised a total of $55 million in funding, led by Lightspeed Venture Partners and supported by a cohort of industry leaders and AI experts.