The project outlines the development of a dynamic NFT, which updates its image based on a specific asset's price using Chainlink price feeds and randomly selects images through the Chainlink VRF, a verifiable random number generator. It also uses Chainlink Keepers to automate the smart contract's response to market changes, allowing the NFT to update without manual intervention. The project aims to enhance developers' understanding of smart contracts, Solidity programming, and blockchain technology while offering practice in designing ERC-721 tokens and utilizing tools like Remix and OpenZeppelin. The learning process can be followed through a video tutorial or Alchemy's Road to Web3 documentation, with additional resources available through the Chainlink developer community.