Sirwin
Sirwin

Thoughts on NFPrompt (NFP): Binance Launchpool

By bengy | Idle Musings | 21 Dec 2023


Thoughts on NFPrompt (NFP): Binance Launchpool.png

 

Okay, this Binance Launchpool crept up on me during this pre-Christmas period! I just opened up my Binance phone app and saw that this particular pool had already been running for a day. And it only runs for a short period of a week! Another short one... and I missed 1/7th of the rewards already. So, a quite staking of BNB into the pool and then off to read about the project.

The last one (ACE) ran for 5 days, and paid out quite nicely with the ACE token currently trading at around 13 USD per ACE! Quite unexpected, and I stuck to my plan and dumped half and held half for a moonbag.

In many ways, I feel a bit the same about this launchpool as well... AI/NFT token... a bit of hyped buzzwords of the moment. So, I'm going to feel very little attachment to the rewards that come out of this Launchpool... dump half at listing and hold onto the rest in case it actually does well. Free Magic Internet Money...

 

Thoughts on NFPrompt (NFP): Binance Launchpool.png

 

But I should take a quick look anyway... So, NFP ticks all the boxes for a NFT project... but the extra little bit is that NFP is also used to call the AI to create NFTs. Hmmm... I am pretty sure that the project doesn't run their own general AI... so, I'm sure that it is all wrapped around one of the existing ones. Which does lead to the questions... why token? why project?

It feels like an artificial walled ecosystem to me... a pump and dump project that is likely to be vapourware in a year or so. I don't think that it is a sustainable ecosystem, and the users are only likely to be there for the rewards... but there is the brand/project contests... perhaps that will be enough to retain users if there is enough in it there... on the other hand, why run the contests in a closed ecosystem?

 

Thoughts on NFPrompt (NFP): Binance Launchpool.png

 

So... the project's rationale for existing... I'm afraid that none of it really sounds any different from the myriad of other options out there... which does again lead to the question... why this particular project/token... and more importantly, is there anything special about having a token attached to this?

 

Thoughts on NFPrompt (NFP): Binance Launchpool.png

 

So, some minor technical details... a BEP-20 token on Binance Smart Chain, with nearly half to the launch liquidity coming from the Binance Launchpool (which is great if you want to make some profit off that early volatility... or to just dump it).

 

Thoughts on NFPrompt (NFP): Binance Launchpool.png

 

This is the entire token distribution over the complete lifecycle of the token. Pretty straightforward and nothing that interesting there... other than the fact that there is an airdrop to existing users. Similar to ACE, and so those people might just clean up like crazy!

 

Thoughts on NFPrompt (NFP): Binance Launchpool.png

 

Same... but with colours!

 

Thoughts on NFPrompt (NFP): Binance Launchpool.png

 

However, this is the much more important graphic. In this initial few months after listing, the greatest liquidity will be from this Launchpool and the airdrop recipients. That means crazy volatility, as those who have very little commitment to the project are busy trading or dumping into the early volatility. There is very little in the way of loyalty or conviction there!

So... I will count myself amongst the disloyal. I don't really see a long-term future for this project, and will likely dump more than half of my Launchpool allocation. Of course, being pragmatic, I will keep the rest as a moonbag... just in case I was wrong!

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I can also be found cross-posting at:
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bengy
bengy

I am a Musician (Violinist/Violist) specialising in Early Music living in The Netherlands. I have a background in Mathematics and Physics due to an earlier tertiary level study... and so, I'm still quite interested in Science and Technology related stuff!


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