NFPrompt Review: Web3 Platform Helps Profit From NFTs Through AI Technology

As a featured project on Binance Launchpad and one of the platforms that helps artists make money from the Web3 platform, NFPrompt is gradually asserting its position. Today, let’s learn about this project with Coincu through the NFPrompt Review article.

What is NFPrompt?

NFPrompt is a game-changer in the world of AI-driven user-generated content (UGC). The platform, which enables users to effortlessly create AI artworks, mint them as NFTs (non-fungible tokens), and subsequently sell them on its Marketplace, marks Binance‘s 41st Binance Launchpool project.

One of the standout features of NFPrompt lies in its integration of AI technology to empower artists, offering them a means to generate additional income by merging their ideas with artificial intelligence. Notably, NFPrompt supports transactions on two networks: BNB Chain and opBNB, providing users with versatile options for buying and selling their creations.

The significance of NFPrompt extends beyond its innovative approach to art creation and monetization. As part of Binance Labs‘ Incubation Program season 6, NFPrompt stands among the select twelve projects, positioning itself as a frontrunner in the realm of Web3 startups. This program, aimed at nurturing potential future Web3 ventures, underscores the mission to democratize creativity, enabling individuals to bring their imaginations to life through AI-generated images, music, and more.

Furthermore, NFPrompt fully harnesses the capabilities of blockchain technology within the contemporary art sector. By leveraging blockchain, the platform ensures transparent and immutable ownership of artworks, instilling trust and authenticity within the ecosystem. Users can unleash their creative potential through user-friendly tools while enjoying the assurance of verifiable ownership of their creations.

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NFPrompt features

cNFP

NFPrompt’s cNFP token, which serves as a pivotal component in the platform’s ecosystem, provides users with access to advanced AI tools for creating digital artwork and facilitates participation in platform events. The cNFP token operates as a credit score, granting users privileges and incentives based on their engagement and activity within the NFPrompt community.

Acquiring cNFP tokens can be accomplished through various methods, offering users flexibility and opportunities to earn rewards like:

Imagine2Earn

NFPrompt has rolled out its innovative Imagine2Earn model, aiming to democratize the process of NFT creation and empower ordinary individuals to harness their creativity effectively. The platform leverages cutting-edge AI tools like Midjourney v5 and Stable Diffusion to enable users to generate multiple assets (AIGC) and monetize the resulting NFTs seamlessly.

Through the Imagine2Earn model, users gain access to a user-friendly interface where they can effortlessly craft a diverse range of NFTs, including images, videos, PFP avatars, music, and more, from simple text prompts.

However, it’s important to note that the creation and listing of NFTs on the market incur costs in the form of cNFP tokens and a nominal gas fee in BNB on the opBNB network. Despite this, NFPrompt remains committed to fostering a supportive environment for creators by implementing a royalty fee system. This means that every time a prompt is reused, a portion of the proceeds is allocated to the original creator, incentivizing the production of high-quality content.

Furthermore, NFPrompt ensures that each iteration of a prompt generates similar but distinct content, preserving the uniqueness and authenticity of each NFT.

Working mechanism of NFPrompt

NFPrompt’s operating model had two primary stakeholders: artists and users.

Artists

At the heart of NFPrompt’s ecosystem are the creative individuals who populate the “Create” section of the platform. These artists harness their talents to produce captivating images and music, which they can subsequently monetize through two avenues.

Firstly, artists have the option to showcase and sell their creations on NFPrompt’s marketplace, providing a direct channel to enthusiasts and collectors.

Secondly, these artistic endeavors can also serve as entries for various project events hosted by NFPrompt. To empower artists in their creative journey, NFPrompt offers support through three cutting-edge AI tools: Midjourney_V5, Stable Diffusion, and DallE 3, each designed to augment and refine the creative process.

Users

Complementing the vibrant community of artists are the users who engage with their works. This diverse group includes individuals who patronize the NFPrompt marketplace, acquiring unique pieces to enrich their collections.

Additionally, users play a pivotal role in shaping the platform‘s direction by participating in voting processes during NFPrompt events. These events not only showcase the talent within the community but also foster interaction and appreciation among users.

Highlights of NFPrompt

NFPrompt continues to revolutionize the digital art space with a slew of enticing features aimed at empowering creators and fostering community engagement. Here are the highlights of what NFPrompt has to offer:

Future Features of NFPrompt

How To Earn Income in NFPrompt

NFPrompt offers users a unique opportunity to create rich content effortlessly. From images and videos to animations, PFP avatars, music, and 3D models, users can bring their ideas to life simply by providing a description text.

At the core of NFPrompt’s ecosystem lies a token mechanism designed to reward original creators. Similar to the royalty fee mechanism seen on platforms like Opensea or Looksrare, NFPrompt ensures that creators receive their fair share whenever their prompts are reused. This not only incentivizes creativity but also supports the trading and circulation of NFTs, opening up new avenues for profit potential among content creators.

Moreover, NFPrompt is fostering creative collaborations with other Web3 projects and introducing token incentive mechanisms to the community. Through these partnerships, NFPrompt aims to encourage user participation in AIGC content creation campaigns sponsored by various projects and brands. Participants stand to benefit from corresponding bonuses through various avenues such as voting, purchasing top works of art, and receiving rewards from the prize pool.

NFPrompt Tokens

The two primary token types used by NFPrompt are NFP and cNFP. NFP is the project’s primary token and is used for staking, project management, and administration. On the other hand, cNFP is a token that can be used for activities on the NFPrompt platform, such as making music and images and taking part in events.

NFP token key metrics

• Token Name: NFPrompt
• Ticker: NFP
• Blockchain: BNB Chain, OpBNB
• Contract BNB Chain: 0x75E8ddB518bB757b4282cd5b83bb70d4101D12FB.
• Token Type: Utility, Governance
• Total Supply: 1,000,000,000 NFP
• Circulating Supply: 250,000,000 NFP (25% of total supply)

NFP token allocation

• Treasury Fund: 27%.
• Growth Fund: 27%.
• Team: 15%.
• Binance Launchpool: 11%.
• Airdrop: 10%.
• Investors: 10%.

NFP token release schedule

• Airdrop and Binance Launchpool will be 100% unlocked at TGE
• Team & Investor will be locked for 1 year, then unlocked linearly for the next 5 years

NFP token use cases

Stake for Profits and Engage in Creative Competitions

One of the primary utilities of NFP tokens lies in their ability to be staked by users, enabling them to accrue profits from platform operating fees. Moreover, users can exercise their voting rights to champion their preferred works of art on the platform. Additionally, creative competitions offer an avenue for users to showcase their talents and vie for enticing rewards.

Create NFTs and Facilitate Contests

NFP serves as the currency for creating NFTs across various mediums including images, videos, and music. Brands and projects leveraging the NFP ecosystem utilize these tokens to sponsor contests, fostering a vibrant and competitive environment for users.

Reward Programs with Partners

NFPrompt integrates NFP tokens into its reward programs, collaborating with partners to offer incentives and benefits to users. This synergy amplifies the value proposition of the platform while incentivizing user engagement.

Exclusive Purchases and Content Promotion

Renowned Key Opinion Leaders (KOLs) within the NFPrompt community have the privilege of utilizing NFP tokens to acquire special signature collections, thereby enhancing their presence and influence within the platform. These tokens also serve as a conduit for promoting content and fostering interactive engagement with the community.

Governance and Development Participation

Holdings of NFP tokens extend beyond mere utility, empowering token holders to actively participate in the governance and steer the future development trajectory of NFPrompt. This democratized approach ensures community involvement and fosters a sense of ownership among stakeholders.

NFPrompt Roadmap

Q4/2023: Empowering Influencers and Enhancing Tokenomics

In the final quarter of 2023, NFPrompt unveiled pivotal features and initiatives aimed at fortifying its ecosystem and empowering content creators:

• Socialfi Feature Launch: NFPrompt introduced the groundbreaking Socialfi feature, enabling Key Opinion Leaders (KOLs) to monetize their influence through signature collections.
• opBNB Campaigns: The platform initiated campaigns on opBNB, broadening its reach and engagement within the digital landscape.
• Token Reallocation for Staking: NFPrompt implemented token reallocation strategies to optimize tokenomics, offering users opportunities for staking.

Q1/2024: Advancing NFT Commercialization and Strategic Collaborations

Transitioning into the first quarter of 2024, NFPrompt embarked on a journey of innovation and collaboration, introducing transformative initiatives:

• Establishment of the NFP Creator Foundation: NFPrompt established the NFP Creator Foundation with a mission to promote NFT commercialization.
• Strategic Collaborations: NFPrompt forged strategic partnerships with renowned AI companies and Web2 retail brands, signaling a commitment to innovation and industry collaboration.
• Advancements in AI Technology: The platform unveiled more advanced AI models and tools, empowering users to create custom works of art as a paid service.
• Launch of NFPrompt’s Own NFT Collection: NFPrompt introduced its own NFT collection, enriching its offerings and providing users with exclusive digital assets.

Q2/2024: Focus on AI Development and Global Expansion

In the second quarter of 2024, NFPrompt intensified its efforts towards technological innovation and global expansion.

• Launch of NFP AI Foundation: NFPrompt launched the NFP AI Foundation, dedicated to developing AI technology tailored for the platform’s needs.
• Global Expansion: The platform expanded its development efforts into multiple countries, aiming to cultivate a diverse user base and solidify its position as a global leader in the digital content creation space. Additionally, new user profiles were developed to cater to the evolving needs of the platform’s expanding user base.

NFPrompt team

After graduating from the University of Waterloo in Canada, Sparks L., the co-founder of NFPPrompt, worked for Amazon as an engineer from 2020 to 2023.

Investors and partners of NFPrompt

Investors

In June 2023, NFPrompt completed a seed round of funding with an undisclosed amount; the project is valued at $60 million.

Partners

Currently, NFPrompt has renowned partners in the BNB Chain ecosystem, including Space ID, SuperWalk, SecondLive, Gameta,…

Conclusion of NFPrompt Review

In addition to offering vital AI tools that enable users to realize and express their desires, NFPrompt wants to be a pioneer in innovation by establishing an open market for Non-fungible Prompts so that all of their creations can be sold. Hopefully Coincu‘s NFPrompt Review article has helped you get more information about this project.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.