NFPrompt

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Discover NFPrompt's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is NFPrompt?

NFPrompt (NFP) is an AI-powered content creation platform for Web3, allowing users to create, own, and monetize digital art and NFTs through various AI tools and interfaces. It integrates blockchain technology to ensure verifiable ownership and provides a marketplace for users to buy and sell their creations.

How is NFPrompt used?

NFPrompt (NFP) is a Web3 tool that allows everyday users to become content creators and monetize their creations through AI tools. It is a platform that enables artists to leverage blockchain technology and access the Web3 market, where they can create, distribute, and sell their digital artworks. The platform operates based on two main groups: artists and users. Artists use the platform to create digital artworks with the support of three AI tools: Midjourney_V5, Stable Diffusion, and DallE. Users can purchase these artworks on the marketplace or participate in voting for them in events.

NFPrompt has two main tokens: NFP and cNFP. NFP is the key token, used for project management, operations, and staking. cNFP is used for activities on the platform, such as creating images, music, and participating in events. Users can earn cNFP by completing tasks like inviting friends, following accounts, joining Discord, or logging in daily.

How do I store NFPrompt?

To store NFPrompt (NFP) tokens, you can use a digital wallet like Trust Wallet. Here's a step-by-step guide to add NFPrompt to your Trust Wallet:

  1. Open Trust Wallet: Ensure you have the Trust Wallet app installed on your device.
  2. Access the Token List: Navigate to the token list within the wallet.
  3. Search for NFPrompt: Look for NFPrompt (NFP) in the token list.
  4. Add NFPrompt: Click on the "Add Custom Token" option and enter the NFPrompt token details.
  5. Save Changes: Save the changes to add NFPrompt to your token list.

Once you have added NFPrompt to your Trust Wallet, you can store your acquired tokens securely within the wallet.

How to buy NFPrompt?

To buy NFPrompt (NFP) tokens, follow these steps:

  1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports NFPrompt trading and operates in your country. Consider factors such as fees, security, and user reviews. Popular options include LetsExchange, MEXC, Bitget, and Bitcompare.

  2. Create an Account: Register on the exchange's website or mobile app, providing personal information and identity verification documents.

  3. Fund Your Account: Transfer funds to your exchange account using supported payment methods like bank transfer, credit card, or debit card. Some exchanges also accept third-party payment services like Simplex, Banxa, and Mercuryo.

  1. Navigate to the NFPrompt Market: Once your account is funded, search for "NFPrompt" (NFP) in the exchange's marketplace.

  2. Choose a Transaction Amount: Enter the desired amount of NFPrompt you wish to purchase.

  3. Confirm Purchase: Preview the transaction details and confirm your purchase by clicking the "Buy NFP" or equivalent button.

  1. Complete Transaction: Your NFPrompt purchase will be processed and deposited into your exchange wallet within minutes.

  2. Transfer to a Hardware Wallet: For security reasons, it is recommended to transfer your NFPrompt tokens to a hardware wallet like Ledger or Trezor.

Additionally, some exchanges offer peer-to-peer trading, allowing you to buy NFPrompt directly from other users. Ensure you follow the exchange's guidelines and security measures to avoid any potential risks.

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History of NFPrompt

NFPrompt, also known as Non-Fungible Prompt (NFP), is a pioneering AI-powered platform that empowers users to create and trade NFTs. The platform was officially launched on June 12, 2023, marking a significant milestone in the digital art and NFT space.

Launch and Mission

NFPrompt's launch introduced the first-ever AI-powered art creation and NFT trading platform, allowing users to become artists and claim ownership of their digital creations. The platform's mission is to bridge the gap between AI art and NFTs, promoting the idea of "Your Prompt, Your Artwork" through social discovery and blockchain technology.

Key Features and Roadmap

The platform offers users the ability to create AI-generated art through text prompts, with customization options using different AI models and settings. Recent developments include a wallet-free login experience and gas fee rebates for early campaigns, making onboarding more seamless. NFPrompt's roadmap includes features such as AI-generated clips, metaverse elements, AI storytelling, auction events, and an in-app editor.

Community Building and Incentives

To foster community engagement, NFPrompt introduced The Credit System, a gamified process that rewards users with NFP Credits for creating exceptional AI art. These credits can be used to create more NFPs and earn exclusive roles in the platform's Discord community.

Institutional Support and Valuation

NFPrompt has received institutional seed investments at a $60-million valuation, demonstrating significant support for its mission to build a bridge between AI art and NFTs.

Overview and Goals

NFPrompt aims to provide a Web3 tool that allows everyday users to become content creators and monetize their AI-generated art. By leveraging blockchain technology, the platform ensures verifiable ownership and promotes open innovation in the NFT space.

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How NFPrompt works

NFPrompt (NFP) is a platform that combines the power of Artificial Intelligence (AI) with decentralized web (blockchain technology) functionalities to democratize content creation for Web3. Here's how it works:

Content Creation with AI Prompts
  1. User Input: Creators provide direction and control by feeding the AI their desired style, theme, or specific elements they want to include in their content.

  2. AI Assistance: Based on user input, NFP offers AI tools that generate creative prompts, suggestions, or starting points. This could include generating story ideas, image concepts, musical compositions, or code snippets.

  3. Iterative Process: Users can refine the AI output and combine it with their creativity to produce unique content.

Web3 Integration and NFT Creation
  1. Minting NFTs: Once content is created, NFP allows users to convert it into Non-Fungible Tokens (NFTs), creating a verifiable digital record of ownership on the blockchain.

  2. NFT Marketplace: The platform might include a marketplace where creators can sell their NFTs directly to other users, potentially using NFP tokens as currency.

  3. Royalty System: NFP might integrate a system where creators receive royalties (a portion of future sales) when their NFTs are resold on the platform.

Tokenomics and Governance
  1. NFP Token: The NFP token is the native cryptocurrency of NFPrompt. It is used for staking, payments, campaign matching rewards, community, and governance.

  2. Token Distribution: The token distribution follows a fair launch mechanism, aiming to provide equal opportunities to all community members. Holders of NFP tokens can propose changes in governance and participate in exclusive auctions.

  3. cNFP Token: cNFP is a synthetic token representing the native token NFP. Users can earn cNFP through various activities such as daily logins, minting NFTs, trading volume, and community engagement. These earned credits contribute to the project's governance token airdrop, aligning economic incentives and fostering community participation.

User Experience
  1. Seedless Experience: NFPrompt offers the Seedless Experience, allowing new users to log in and create without the need for a blockchain wallet, facilitating a smooth onboarding process.

  2. Gasless Experience: The platform provides a Gasless Experience, offering users a 100% gas fee discount during specific campaign periods, making the platform accessible to a broader audience.

Trading and Community Engagement
  1. Trading: NFP tokens can be traded on various exchanges, such as Bitget, where users can buy and sell NFP tokens.

  2. Community Engagement: NFPrompt aims to reward true supporters through airdrops, events, wallet activity, etc., to foster a robust ecosystem of creators, collectors, and enthusiasts aligned with the platform's economic incentives.

Overall, NFPrompt is designed to empower users to easily create AI art and mint it as NFTs, offering users an unparalleled creative and financial experience.

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NFPrompt's strengths

NFPrompt (NFP) has several strengths that make it a notable platform in the intersection of AI and Web3:

  1. Accessibility and User-Friendliness: NFPrompt offers a Seedless Experience, allowing users without blockchain wallets to log in and create AI art easily. Additionally, it provides a Gasless Experience during specific campaigns, offering a 100% gas fee discount to encourage more users to create AI artworks without transaction fees.

  2. Empowering Creativity: NFPrompt is designed to empower users to create AI art and mint it as NFTs, providing a platform for users to express their imaginations and monetize their creations.

  3. Fair Tokenomics: The platform has a fair token distribution mechanism, ensuring equal opportunities for all community members. It also introduces a unique token mechanism that facilitates royalty fees for original creators when their prompts are reused, driving transactions and circulation of AI-generated NFTs.

  1. Community Engagement and Governance: Holders of NFP tokens can propose changes in governance and participate in exclusive auctions. Staking NFP tokens provides entitlement to a percentage of total trading fees, with higher shares for longer lock-ins. The platform also rewards true supporters through airdrops, events, and wallet activity.

  2. Dual-Token Model: NFPrompt has a dual-token model with NFP and cNFP tokens. cNFP, a synthetic token, is earned through various activities and contributes to the project's governance token airdrop, aligning economic incentives and fostering community participation.

These strengths position NFPrompt as a platform that is poised to leave a lasting impact on the future of AI-generated art and decentralized creativity.

NFPrompt's risks

NFPrompt (NFP) faces several risks, including:

  1. Originality and Ownership Concerns: The heavy involvement of AI in content creation raises questions about the originality and ownership of the generated content. This could lead to disputes over copyright and intellectual property rights.

  2. Over-Reliance on AI: The platform's reliance on AI tools might stifle creativity and lead to homogenization of content. This could result in a lack of diversity and uniqueness in the generated content.

  3. Technical Limitations: AI technology is still under development, and NFPrompt's AI tools may not be able to perfectly capture the nuances of human creativity or understand complex concepts. This could limit the quality and versatility of the generated content.

  1. Market Volatility: As a cryptocurrency, NFPrompt is subject to market fluctuations, which can impact its value and the overall stability of the platform.

  2. Regulatory Risks: NFPrompt operates in the Web3 space, which is still largely unregulated. Changes in regulations or laws governing blockchain technology and NFTs could negatively impact the platform's operations and profitability.

  3. Competition: The Web3 and NFT markets are rapidly evolving, with new platforms and technologies emerging. NFPrompt faces the risk of competition from other platforms that may offer similar or more advanced features, potentially attracting users away from NFPrompt.

  1. Security Risks: As a blockchain-based platform, NFPrompt is vulnerable to security risks such as hacking and data breaches. If the platform's security is compromised, it could lead to significant financial losses and damage to its reputation.

These risks highlight the need for NFPrompt to continually innovate, address concerns around AI-generated content, and ensure robust security measures to maintain user trust and confidence in the platform.

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Did NFPrompt raise funds?

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NFPrompt’s team

  • Sparks L: Co-Founder of NFPrompt, graduated from the University of Waterloo in Canada and worked as an engineer for Amazon from 2020 to 2023.

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