Binance’s new coin mining platform, Launchpool, went live with its 41st project, NFPrompt (NFP), last night. The following is an introduction to the features and detailed mining information of this project.
Table of Contents:
NFPrompt Launchpool Detailed Information
What is NFPrompt? Features explained
BNB Surges by 6%
Binance, the world’s largest cryptocurrency exchange, announced the launch of its “coin mining” platform, Binance Launchpool, with the 41st project, NFPrompt (NFP), on the evening of December 19th.
Users can participate in a 7-day mining activity by depositing BNB, FDUSD, and TUSD into the mining pool from December 20th, 0:00 UTC to December 26th, 23:59 UTC, in order to receive NFP token rewards.
NFPrompt Launchpool Detailed Information
According to the announcement by Binance, the details of the NFP launch pool are as follows:
Token Name: NFPrompt (NFP)
Total Token Supply: 1 billion
Launchpool Token Rewards: 110 million (11% of the total token supply)
Initial Circulating Supply: 25 million
Staking Terms: KYC required
Daily Total Rewards: 15,714,285.71 tokens
For more information on how to participate in Binance Launchpool, please refer to the complete tutorial on Binance “coin mining.”
What is NFPrompt? Features explained
NFPrompt (NFP) is an artificial intelligence-driven user-generated content (UGC) platform for Web3 creators. It is one of the incubation projects of Binance Labs’ sixth season, launched in June this year.
NFPrompt allows users to generate various types of content (AIGC) through AI tools and provides a marketplace for trading AIGC works and their instruction words (Prompts). Users can use NFPrompt to create dynamic and intuitive digital content, such as images, videos, animations, PFP avatars, music, and 3D models, from mundane text. According to the official statement, there are already over 180,000 users who have created over 1 million AI NFTs on NFPrompt.
Note: According to the NFPrompt explanation, the project currently relies on the Midjourney v5 and Stable Diffusion generation models for AI generation and is exploring and developing its own generation model.
In order to highlight the value of outstanding artworks and prompts, NFPrompt adopts a token mechanism where royalty fees are transferred to the original creators when the same instruction word is reused. While similar content may be generated from identical prompts, they will never be exactly the same. The official statement indicates that this model can promote the trading and circulation of these NFTs, thereby profiting from AI-assisted creativity.
BNB Surges by 6%
One week ago, Fusionist, the 40th new coin mining project on Binance, attracted a lot of attention, and within just two days, over $4 million was invested in Launchpool. As the new project, NFPrompt, still needs time to validate its ability to create wealth, BNB has already surged in response.
After the announcement, BNB quickly surged past $250 and is currently trading at $253, with a 6.3% increase in the past 24 hours.
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Image source: Binance Spot
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Tags: Binance Launchpad, NFP, Exchange, Binance, New Coin Mining