What is NFPrompt? Detailed information about NFPrompt project and NFP token
NFPrompt, a Binance Launchpool project, is a platform enabling artists to monetize their work on the Web3 platform with a valuation of $60 million USD.
1. What is NFPrompt?
NFPrompt is a project on Binance Launchpool, serving as a platform to help artists earn money from the Web3 platform. This project attracted investment with a valuation of $60 million USD. NFPrompt provides an opportunity for artists to leverage the potential of blockchain technology and access the Web3 market, where they can create, distribute, and sell their digital artworks.
2. The operating model of NFPrompt
NFPrompt operates based on 2 main groups: artists and users.
Artists: These are the creative individuals, including visual artists and musicians, who utilize the 'Create' section of the platform. Upon completion, they can sell their works on NFPrompt's marketplace or use them to participate in the project's events. Currently, there are 3 artificial intelligence (AI) tools supporting artists in creating their works, including Midjourney_V5, Stable Diffusion and DallE 3.
Users: These are individuals who purchase products from artists on the marketplace or participate in voting for artworks in NFPrompt events.
NFPrompt also features the cNFP token, which plays a role in supporting artists to use AI tools for creative purposes and helps users participate in platform events. Users can earn cNFP by completing tasks such as inviting friends, following certain accounts, joining Discord, or logging in daily...
3. Key features of NFPrompt
Gas-Free Transactions: To incentivize users and artists to participate in activities on NFPrompt, the project does not charge gas fees for buying and selling during events.
Support for Creativity with Multiple AI Types: NFPrompt is one of the few Web3 projects integrating 3 types of AI to support users in artistic creation comfortably.
User-Friendly Interface: NFPrompt's interface is user-friendly for both users and artists. The project even allows new users to create images without needing to log in to their Web3 wallet.
According to information from the NFPrompt team, the platform will integrate and develop additional features such as Galleries - allowing artists to showcase and share their artworks and Auction Markets - where artists' products are auctioned.
4. NFPrompt Token Details
NFPrompt has 2 main types of tokens: NFP and cNFP.
NFP is the project's key token, playing a crucial role in project management and operations, as well as in staking.
cNFP is the token used for activities on the NFPrompt platform, including creating images, music, and participating in events held on the platform.
4.1. 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
4.2. NFP Token Allocation
Short-term Growth Fund: 27.0% (equivalent to 270,000,000 NFP)
Long-term Treasury Fund: 27.0 % (equivalent to 270,000,000 NFP)
Team: 15.0% (equivalent to 150,000,000 NFP)
Binance Launchpool: 11.0% (equivalent to 110,000,000 NFP)
Initial Airdrop: 10.0% (equivalent to 100,000,000 NFP)
Investors: 10.0% (equivalent to 100,000,000 NFP)
4.3. NFP token release schedule
NFP token allocation schedule is designed to ensure the stability and sustainability of the ecosystem. You can track the vesting schedule on platforms such as Token unlocks, Cryptorank...
4.4. NFP token sale
Binance listed NFP token on Binance Launchpool on December 20, 2023. Users can stake BNB, FDUSD, and TUSD to receive NFP.
The allocation of NFP for each pool is as follows:
BNB Pool: 88,000,000 NFP.
FDUSD Pool: 11,000,000 NFP.
TUSD Pool: 11,000,000 NFP.
5. Key events of NFPrompt
Some notable events of NFPrompt include:
May 17, 2023: Official launch on the BNB Chain.
July 14, 2023: Ranked by Binance as one of the top three projects with potential in the field of A.I.
September 21, 2023: Participation in the 6th season of the Binance Incubation Program.
December 7, 2023: Successful integration of opBNB and BNB Greenfield.
6. Project Team and Investors of NFPrompt
6.1. Team
NFPrompt currently has an anonymous team, except for Co-Founder Sparks L. Sparks L, who graduated from the University of Waterloo in Canada and then worked as an engineer for Amazon from 2020 to 2023.
6.2. Investors
According to Cointelegraph, NFPrompt has attracted investment with a valuation of $60 million USD. However, detailed information about the fundraising round and the investors involved has not been disclosed.
6.3. Partners
NFPrompt is actively collaborating with many prominent projects in the cryptocurrency market, including well-known names such as SpaceID and BurgerCitie.
7. Closing thoughts
NFPrompt is a notable Web3 project, integrating AI into art and the NFT market, promising creativity and widespread access. The AI trend is a unique and promising narrative, and being chosen as a project for Binance Launchpool is also a positive indicator for this project.
What about your thoughts? If you want to know further about it, don’t hesitate to share it with us! 😀
This post is for educational purposes only. All materials I used were the different reference sources. Hope you like and follow us and feel free to reach out to us if there is an exchange of information. Cheers! 🍻
#NFPrompt #NFP #Web3 #AI #Binance