A redefined prompt marketplace for Web3
We continue our series of interviews with selected startups Fuelarts x Tezos Accelerator. We are pleased to introduce you to the trading platform for Web3 - PromptSea.
PromptSea empowers creators to create semi-private NFTs that offer privacy features while being hosted on public blockchains.
We asked PromptSea Founder Pisuth Daengthongdee to talk about the initiative and answer some of our questions:
PromptSea empowers creators to create semi-private NFTs that offer privacy features while being hosted on public blockchains.
We asked PromptSea Founder Pisuth Daengthongdee to talk about the initiative and answer some of our questions:
Founder
Pisuth is the CEO & Founder of PromptSea. He is a Web3 entrepreneur living in Fukuoka, Japan, and is obsessed with crypto, NFTs, and the metaverse. He originally comes from Thailand where he started his journey in crypto in 2017 and worked as an engineer for Gamedex and Perlin until he founded his startup in 2021.
He has won several hackathons in several countries, including the NEO Blockchain Global Hackathon in Tokyo in 2018, SCB10X Metaverse Hackathon 2022, and other prizes.
He has won several hackathons in several countries, including the NEO Blockchain Global Hackathon in Tokyo in 2018, SCB10X Metaverse Hackathon 2022, and other prizes.
- What is PromptNFT and why is it so important?
- When we launched PromptSea back in October 2022, we wanted to be a prompt marketplace for Web3 space. For anyone who doesn't know, a prompt is a set of keywords used to command AI software to generate a desired output, which could be artwork or personalized knowledge tips.
However, due to the open nature of NFTs, tokenizing the artwork that includes additional information such as prompts makes the prompt accessible to anyone. To address this, we introduced PromptNFT, which positions itself between public NFTs and private NFTs (NFTs on a private blockchain).
In other words, PromptNFT is a private NFT that can be deployed on public blockchains. It allows creators to safely share private information with their collectors.
However, due to the open nature of NFTs, tokenizing the artwork that includes additional information such as prompts makes the prompt accessible to anyone. To address this, we introduced PromptNFT, which positions itself between public NFTs and private NFTs (NFTs on a private blockchain).
In other words, PromptNFT is a private NFT that can be deployed on public blockchains. It allows creators to safely share private information with their collectors.
- What are the advantages of PromptSea over other NFT platforms?
- Being a small startup, we're unable to compete with major players in the market, such as OpenSea or those that have a significant financial backing.
As of now, we're focusing on AI-works and prompts, taking advantage of the rising trend of AI. The large user base of AI-image generators such as Midjourney and DALL-E, and later ChatGPT with over a million users, supported this hypothesis.
Together with PromptNFT, we provide a solution for creators to safely share content exclusively with token holders, tapping into the global creative market worth $600 billion.
We believe that AI will eventually become a software tool similar to Photoshop and Blender, allowing individuals and studios to create content more quickly and cost-effectively and NFTs open up new opportunities for them to directly distribute their works to their audience.
As of now, we're focusing on AI-works and prompts, taking advantage of the rising trend of AI. The large user base of AI-image generators such as Midjourney and DALL-E, and later ChatGPT with over a million users, supported this hypothesis.
Together with PromptNFT, we provide a solution for creators to safely share content exclusively with token holders, tapping into the global creative market worth $600 billion.
We believe that AI will eventually become a software tool similar to Photoshop and Blender, allowing individuals and studios to create content more quickly and cost-effectively and NFTs open up new opportunities for them to directly distribute their works to their audience.
- How do you want to change the way you create content using Web3 technology?
- Piracy and copyright infringement are common issues that creators face. While big companies have the resources to address these issues, individual creators often have to deal with them on their own.
This can consume a lot of time, not to mention the financial losses that can be incurred as a result of someone else profiting from their hard work.
Web3 is changing the game for creators and providing a new way to protect their content. When content is created on Web3, it leaves a digital footprint or a traceable record on the blockchain, making it easier to track and verify ownership.
This can consume a lot of time, not to mention the financial losses that can be incurred as a result of someone else profiting from their hard work.
Web3 is changing the game for creators and providing a new way to protect their content. When content is created on Web3, it leaves a digital footprint or a traceable record on the blockchain, making it easier to track and verify ownership.
- What are your hopes for the future of the Web3 ecosystem?
- I believe that a decentralized system should not be overly decentralized. There should be a certain level of control and regulation to prevent theft and scams, ensuring that everyone is not free to do whatever they please.
By having some level of control and regulation, the decentralized system can still provide the benefits of decentralization while also ensuring that it operates in a responsible and secure manner.
Legal support and recognition similar to that of traditional companies is what we envision for DAO and its treasury when everything is in place. Our aim is to provide Web3 solutions that address real-world problems, not to operate as outlaws.
Additionally, we envision that the tokenized arts and other forms of creative content in the Web3 world will be legally protected and safeguarded against piracy and copyright infringement.
By having some level of control and regulation, the decentralized system can still provide the benefits of decentralization while also ensuring that it operates in a responsible and secure manner.
Legal support and recognition similar to that of traditional companies is what we envision for DAO and its treasury when everything is in place. Our aim is to provide Web3 solutions that address real-world problems, not to operate as outlaws.
Additionally, we envision that the tokenized arts and other forms of creative content in the Web3 world will be legally protected and safeguarded against piracy and copyright infringement.
- What feedback did you receive from the audience?
- When the first version of our platform was released in October 2022, and reached out to AI-art communities to promote it. We were fortunate enough to receive feedback from some of the AI-art creators.
One of the interesting things we learned was that many of them were not just interested in selling prompts, but also wanted a place to sell the output of their prompts, such as AI-arts, and other creative works that were partially created with AI's assistance.
This was a perfect fit with PromptNFT, so we upgraded to version 2 in February and targeted a much larger market.
Our platform now supports not only prompts but also any kind of AI-generated content. Creators can embed high-resolution files, PDFs, paid-to-view content, and the music file, which can be safely shared with collectors.
Regardless of whether the AI-generator evolves or the selling of prompts becomes irrelevant, the output of AI will still be considered content. We don't need to make any changes. The goal remains the same: to be a platform that allows creators to distribute their content to their audience directly, eliminating the need for intermediaries who may take a share of the profits.
One of the interesting things we learned was that many of them were not just interested in selling prompts, but also wanted a place to sell the output of their prompts, such as AI-arts, and other creative works that were partially created with AI's assistance.
This was a perfect fit with PromptNFT, so we upgraded to version 2 in February and targeted a much larger market.
Our platform now supports not only prompts but also any kind of AI-generated content. Creators can embed high-resolution files, PDFs, paid-to-view content, and the music file, which can be safely shared with collectors.
Regardless of whether the AI-generator evolves or the selling of prompts becomes irrelevant, the output of AI will still be considered content. We don't need to make any changes. The goal remains the same: to be a platform that allows creators to distribute their content to their audience directly, eliminating the need for intermediaries who may take a share of the profits.
- What made you want to participate in Fuelarts x Tezos Accelerator 2023?
- I co-founded a startup with friends and served as the CTO when we were accepted into another US-based accelerator program in 2021.
After the program ended, we were unable to secure funding and my partners left the project around mid-2022. I pivoted what we did into PromptSea.io and launched it 1-2 months later, but since my background is in engineering, I have no connections to VCs and lack business expertise.
As a result, I was thinking about joining an accelerator program again as a project lead, with the goal of leveraging every possible resource, including classes and mentorship opportunities, to improve my project and business model and I thought it was my only option to move forward.
And the most interesting thing from the Fuelarts x Tezos Accelerator is that the accelerator is a NFT-focused program which means it aligns with what I'm doing and I hope it will bring the project to success.
After the program ended, we were unable to secure funding and my partners left the project around mid-2022. I pivoted what we did into PromptSea.io and launched it 1-2 months later, but since my background is in engineering, I have no connections to VCs and lack business expertise.
As a result, I was thinking about joining an accelerator program again as a project lead, with the goal of leveraging every possible resource, including classes and mentorship opportunities, to improve my project and business model and I thought it was my only option to move forward.
And the most interesting thing from the Fuelarts x Tezos Accelerator is that the accelerator is a NFT-focused program which means it aligns with what I'm doing and I hope it will bring the project to success.
- What exactly motivates you the most in acceleration?
- I've been in the cryptocurrency industry since 2017, and in 2021, NFTs became widely popular. At that time, it was surprising to see that a simple picture of a monkey could cost millions of dollars.
The program provided me with a thorough understanding of the art market and why some artworks sell at such high prices.
As a Web3 developer, I'm excited to explore the untapped opportunities in the art market during the program and look for a way to sustain my startup that can grow and succeed in the long run. I hope that after graduation, we will be able to ship many more products that support the art market, with the aim of gaining real traction and contributing to the growth of the industry.
The program provided me with a thorough understanding of the art market and why some artworks sell at such high prices.
As a Web3 developer, I'm excited to explore the untapped opportunities in the art market during the program and look for a way to sustain my startup that can grow and succeed in the long run. I hope that after graduation, we will be able to ship many more products that support the art market, with the aim of gaining real traction and contributing to the growth of the industry.
