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I am a newbie to this area. Honest questions:

Is this generating videos as streaming content e.g. like a mp4 video. As far as I can see, it is doing that. Is it possible for AI to actually produce the 3d models?

What kind of compute resources are required to produce the 3d models.

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You can feed the output to NeRF or Gaussian Splat generators to produce 3d models:

https://twitter.com/BenMildenhall/status/1758224827788468722

https://twitter.com/ScottieFoxTTV/status/1758272455603327455

The key is that the video has spatial consistency. Once you've got that, then other existing tech can take the output and infer actual spatial forms.

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