Used to be a company that made pretty much the same thing called Magnock. I see they don't even have a website anymore, or if they do I can't find it.
I think with the mag nocks the magnet was on the arrow to keep weight off the string. I think they had a better hook up system as well.
I will be perfectly honest the NAP product looks like a cheap knock off version of them.
I toyed with getting some at one point but never went through with it. The current system really isn't that bad in my opinion. The way your arrow nocks is not what is holding most people back from shooting well

.
My opinion anyway.
Paul