AI tools grow fast! Pika Labs is now the proud parent of a new AI video generation tool, announcing the launch of Pika 1.0 to integrate advanced AI capabilities with user-friendly features.
Pica is coming out of beta just six months after the company was founded and serves the company's vision to democratize video production, allowing everyone to become their own video director.
We're excited to announce Pika 1.0, a new web experience that makes it easy to generate and edit videos in a variety of styles, including 3D animation, anime, cartoon, and cinematic. We,” said an official blog from Pica Labs.
Growing to half a million users, Pica has demonstrated the growing demand for accessible video creation tools. Pika 1.0 boasts features such as text-to-video, image-to-video and video-to-video conversion. The tool allows users to edit and enhance videos in a variety of ways, including expanding video dimensions, changing content elements such as clothing, characters, and environments, and extending video lengths using AI.
The highlight of the launch is that the video generation tool is now accessible on both Discord and the web on mobile and desktop platforms. Until now, Pica has relied on a Discord bot to interact with the community, posing as a model that looks like Midjourney and Sunon.
Influential people in the crypto space have praised Pica's launch, including Solana founder and Reddit co-founder Alexis Ohanian.
Many in the crypto community believe that generative AI will power the NFT market, offering creators new ways to bring their digital visions to life and offering collectors unique, AI-powered digital assets.
Pica Labs has announced that it has raised a total of $55 million in funding in addition to the technology results. Led by Lightspeed Venture Partners and backed by industry leaders and AI experts, this financing demonstrates confidence in Pica's vision and technology.
“Generative AI will democratize creating professional-quality video, as other new AI products have done for text and images,” said Michael Mignano of Lightspeed Venture Partners. “We believe Pica will lead that change.”
Pica's journey is not alone in the AI video landscape. Tech giant Adobe Systems' acquisition of Rephrase.ai and the launch of Meta Emu Video are indicative of growing interest and investment in AI-based video technologies. Similarly, Stable AI's release of Stable Video Diffusion and Runway's updates to RunwayML reflect competition in the AI video generation market.
Edited by Ryan Ozawa.
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