A prototype is a model built to test a concept, while an MVP is a functional product built to be released to actual users.
While often confused, Prototypes and Minimum Viable Products (MVPs) serve entirely different purposes in the product development lifecycle. A prototype is a preliminary model often just a clickable design on Figma with no real code used to visualize an idea or secure early stakeholder buy-in. An MVP, on the other hand, is a fully coded, functional application with just enough features to solve a core problem for early adopters. You test a prototype internally; you launch an MVP to the market.