What is NFPrompt?

Introduction

In recent years, the development and application of artificial intelligence have been advancing at an extremely rapid pace, enabling computers to effectively analyze and adapt to their environment, changing the way humans interact with technological products. With the emergence of ChatGPT, artificial intelligence was rapidly adopted in 2023, and people realized that life would inevitably be impacted and disrupt existing economic and social models. Many hope to utilize artificial intelligence as a new way of monetization, but adapting and seizing opportunities is quite difficult. If suitable tools can be built and used correctly, it will allow everyday users to become content creators and establish a method of monetizing creations through AI tools.

NFPrompt has raised $60 million in a seed round of funding from multiple institutions. With this funding, NFPrompt will develop more artificial intelligence features and better build its community. It is also one of the first projects in the 6th season of the Binance Labs Incubation Program, introduced in the fair launch mode of Binance Launchpool, supporting early-stage projects that contribute to Web3 ecosystem innovation. At the end of last December, it completed a strategic investment round with DWF labs, selling 0.8% of the token supply.

What is NFPrompt?

Source: nfprompt.io

NFPrompt is the first creativity-centric Prompt art platform in Web3, providing artists with convenient AI tools and interfaces, allowing users to transform their imaginations into generative NFTs through AI, and offering collectors and enthusiasts the ability to buy and sell NFT artworks. The goal is to provide every user with the power to realize their imagination while incorporating an economic system and incentives to create an open market for everyone’s creations.

To fully leverage the advantages of blockchain technology in the contemporary art industry. The way of artistic creation has evolved from traditional craftsmanship to digital art, and then to the era of AI-generated content. By combining the benefits of Web3, ordinary users can now fully express their inner imagination through convenient tools, while providing verifiable ownership of the AI art they curate.

Relying on its multi-modal proprietary models, from text, image, and video to audio conversion models, NFPrompt provides users with a unique creative space. On NFPrompt, not only can you easily create NFT content, but you can also participate in voting and win rewards from Web3 project-sponsored art events. This is not just artistic creation, but a way to transform imagination into tradable assets on the blockchain. It is worth mentioning that the cost of minting an NFT on the opBNB platform is extremely low, at just 1 cent, which greatly lowers the threshold for creation and participation. The platform has currently accumulated over 5 million creators and generated nearly 4 million NFT artworks, and continues to grow.

NFPrompt Main Product Features

Collaborative Creation

1. AI-Powered Creativity: NFPrompt offers 5 different AI-powered creation tools for images, videos, profile pictures, music, and more, enabling everyone to effortlessly create NFTs.
2. Creator Community: NFPrompt provides a platform for users to discover AI-generated artworks and a channel for creators and influencers to connect with their fans, share exclusive content, and offer valuable insights.
3. AI NFT Marketplace: NFTs created on NFPrompt can be traded seamlessly on BNBChain and opBnB.
4. Themed Creation Contests: NFPrompt’s themed creation contests help projects expand brand exposure and further incentivize user participation through marketing funds provided by clients.

Elevating User Experiences

On its journey to empower Web3 creators, NFPrompt continues to innovate, introducing two new features to enhance the user experience.

1. Enriched Community Engagement: Content creators can monetize their NFT creations by offering exclusive paid access to users while retaining control over managing their works, setting permissions, and creating customized pricing models.
2. Incentivizing Content Sharing: Users can increase the visibility and engagement of their works by sharing them, with this data feeding back into the creators’ trend indices. The more influential a creator’s works or community presence, the greater the benefits they receive, fostering a virtuous cycle of community growth and heightened work transactions.

$NFP Token Economics and Revenue Model

Initially, NFPrompt will mint 1,000,000,000 NFP tokens.

The $NFP token will serve as the governance token for the entire NFPrompt ecosystem, empowering users holding a certain amount to propose feature developments and vote on crucial decisions. In the future, participation in exclusive auctions hosted by popular artists will also require $NFP tokens.

Token Distribution

Source: nfprompt.io

1. Fair Launch Mechanism: We firmly believe that a fair launch is a standout advantage of our project. Whether you are a newcomer, project contributor, venture capitalist, or market participant, we strive to provide equal opportunities to everyone within the community. This means that ordinary investors can also partake in the project’s success, fostering a win-win mindset.
2. Decentralized Token Distribution: In the project’s early stages, we deliberately kept the token holdings of major shareholders and investors at a relatively low level. More tokens were allocated to community creators, avoiding the “lazy investor” phenomenon and giving the community a stronger voice in shaping the project’s direction.
3. Long-Term Project Commitment: The team is dedicated to building a sustainable, long-term project. To demonstrate this commitment, the project team voluntarily extended the token lock-up period for the team and key users, ensuring stable development and a healthy ecosystem operation. The team and equity user tokens will have a one-year lock-up period, followed by a linear unlock over five years.
4. Long-Term Community Support: The project’s long-term success hinges on active community participation and support. Therefore, the project team decided to introduce public oversight and voting mechanisms for token utilization, with community governance at the core. This not only contributes to the project’s active development but also helps reduce token supply, providing a solid foundation for the project’s long-term value proposition.
5. Fair Token Distribution Model: The token economic model aims to fairly distribute tokens to all contributors to the project; users, creators, collectors, and influencers all play vital roles. At the same time, it maintains decentralization among token holders and encourages positive competition, driving healthy growth in the AI x Web3 vertical domain.

Unlocking Period

• The initial airdrop and Binance Launchpool will be unlocked immediately from Genesis.
• Team and investor tokens have a 1-year cliff and 5-year linear release to fully sustain the ecosystem we are building around the $NFP token.
• Important Note: Using a Web2 login will make you ineligible for airdrops or winning event rewards.

Source: nfprompt.io

Imagine 2 Earn

NFPrompt allows users to generate various content (AIGC) through AI tools, primarily helping ordinary people easily transition into professional creators. Users can use NFPrompt to generate dynamic and intuitive digital content from plain text, such as images, videos, animations, PFP avatars, music, and 3D models.

By highlighting outstanding artworks and exquisite prompt creations, NFPrompt adopts a token mechanism where royalty fees are transferred to the original creator when a prompt is reused repeatedly. It’s worth noting that identical prompts will generate similar but not the same content. This model promotes the trading and circulation of these NFTs, enabling monetization through AI-assisted creativity.

$cNFP System

Source: nfprompt.io

Users can consume credits in the backend using the Midjourney V5 or Stable Diffusion models to generate and mint different styles of image or video NFTs. These credits are the circulating currency on the platform, not yet on-chain and untradeable or purchasable. Users can accumulate credits through daily community tasks to mint larger quantities of NFTs for listing and sale or to earn early contributor eligibility for future token airdrops.

Users can accumulate cNFP on the platform through various operations. cNFP is a synthetic asset of the NFPrompt governance token NFP, currently serving as credits to record different users’ activity levels within the NFPrompt system and will act as an airdrop credential after NFP’s TGE.

Temporary ways to accumulate cNFP include daily check-ins, friend referrals, NFT minting, NFT trading, community following, platform tasks, prize pool drawings, and more.

Creative Collaborations

Creative collaborations with various Web3 projects have also introduced token incentive mechanisms to the community. NFPrompt will regularly incentivize users to participate in AIGC content creation activities sponsored by other projects and brands, with corresponding prize pools. Users can participate through voting to earn top artworks and win prize pool rewards.

Source: nfprompt.io

To further incentivize creators and collectors over a longer period, fees and creator royalties will be charged on the most popular prompts from trending artists. The goal is to derive a series of unique images from the same prompts, with the hope that users can participate globally in that collection. Even under the same image concept, each image is unique; while styles may be similar, the generated images are ensured to differ.

Governance & Voting

The $NFP token will also serve as a means for the community to have a voice, with each user holding a certain amount able to propose changes to features, development, and other important decisions to improve the platform. Participation in future exclusive auctions by popular artists will also require $NFP tokens.

Staking

Staking $NFP tokens will entitle the locked tokens to a certain percentage of the platform’s total trading fees. The longer the total amount and lock-up time, the higher the share.

Airdrops

As a builder of the AI art market, NFPrompt’s mission is to enable every user to become a creator and an AI artist. To foster a robust ecosystem consisting of creators, collectors, and enthusiasts, the project has introduced a token to coordinate the economic incentives of these early supporters.

• Events (OAT events, Discord events, etc.)
• Wallet activities (credit system, etc.)
• Notable NFT creations and interaction/social prominence
• Wallet witch operations will be filtered out.

Conclusion

In the Web3 era, NFPrompt provides creators with a more fair and transparent decentralized trading platform, not only addressing core issues from the Web2 era such as unfair revenue distribution, lack of content control rights, and unhealthy competition, but also offering creators more diverse revenue streams and greater control. This drives the continuous generation of high-quality original works while enhancing exposure through the platform.