And How Important It's Becoming In Order To Make An #NFTProject Stand Out In A Crowded Market...
(plus how you can win a @killabearsnft currently valued at ~1.8eth if you read this to the end)
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@killabearsnft 1/ Over the past few months we've seen a lot of new NFT projects come and go.
By "go", I don't necessarily mean die, or rug. (although many have)...
I mean gain a decent amount of traction, and then lose momentum, and stagnate or bleed out.
@killabearsnft 2/ Back in the good ol' days of mid 2021, launching a PFP project that got attention could be as simple as having 10k reasonably good-looking jpegs and a roadmap.
But as you and I both know, this market changes faster than @nftpres's PFP. (love ya buddy)
@killabearsnft@nftpres 3/ Failure to adapt to these rapid shifts in what the current market has an appetite for, can result in a loss of momentum.
And once the volume goes, then the floor goes, bringing the #wagmi sentiment and good vibes down with it.
@killabearsnft@nftpres 4/ What's even tougher is, some of these shifts are not even in the project's control.
ETH pamps, floor go down, ETH nukes, floor go down. It's an inefficient, irrational, impatient market.
And the current average participant is unwilling to wait around for something to happen
@killabearsnft@nftpres 5/ Because there's other cool shit happening all around them literally at all times.
Players of this game have choices - just like defi liquidity has choices. LPs choose where they park their capital based on who has the best incentive-to-risk ratio.
@killabearsnft@nftpres 6/ And when a better opportunity comes along, they (understandably) make a choice to move their money.
Your typical Jpeg degens (me included) aren't much different. NFT capital is flighty too. With like 50x more options.
But what NFT projects have, that defi protocols don't, is
Too few NFT projects are treating their early growth stages as a content & entertainment company.
What do boomers do when they get bored with something on TV?
They change the channel. 📺
This is no different than anything in the "real world"
@killabearsnft@nftpres 8/ When people get bored with one thing, they allocate their time and attention to something else.
And in a space where their choices are directly incentivized by money, and there are so many options available - retention gets harder and harder every day.
@killabearsnft@nftpres 9/ In previous cycles, when there were less projects launching, and ETH was more expensive, you could have big lulls between deliverables, and still do pretty well.
You could launch with just the jpegs and a roadmap, and expect to get some traction if the art hit right
At this point, this experience really starts blurring the lines of what is "Real" and what isn't. Especially when you call the # at the bottom. (go ahead - try it) ☎️
But Fomo wasn't the only one who wasn't buying into the official story (that the crash was simply a malfunction, vs. the KillaVerse data systems being under attack)
👉 Dr Fomo is now working with officials!
👉 He is sending us a "Data Packet" (obv an airdrop, but for what???)
👉 Our enemies are the Vorians, and they are trying to take over our data infrastructure, to disable our defense systems and turn us into ExtinctBears!
So IMO the most important thing a project can do, is entertain us as they build the core business, partnerships, revenue streams that will sustain and grow them into long-term success.
10 Uncomfortable Truths About The Jpeg Game You Probably Don't Want To Hear...(But Should)
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1/
🖼TRUTH # 1: We Are *Not* All Gonna Make It
#WAGMI has become a popular meme in this space, but the reality is, it's 100% bullshit. You are playing a zero-sum game.
Act accordingly, or get rekted.
2/ The jpegs are like a modified version of (3,3) which is a bastardization of game theory, designed to provide exit liquidity for those with inside info
Your saving grace here is buying projects w/ strong teams & communities who consistently deliver additional value to holders
The (Sometimes Ugly) Truth About "Community" In The #NFTCommunity - a 🧵👇
1/ A lot of projects in this space claim to be "Community Driven" - they use community as a buzzword because everyone says you need it for a project to succeed.
But after degen'ing into many projects over the past year, it's clear many projects don't walk the walk when
2/ it comes to actually building the kind of community that can take a project from mint, to Valhalla.
That's why so many projects will see an initial spike in volume and floor price, then a slow bleed-out once the volume dries up.
How a super smooth brain's journey down the @terra_money rabbit hole 🐇 convinced me this ecosystem is the real "Future of France" 🧵👇
1/ I was made aware of @terra_money back in Feb, but never started really exploring it until about a month and a half ago. And what I've seen so far, has completely blown my mind 🤯
2/ The main thing that has me so boolish about this ecosystem is that the developers clearly understand that in order to gain mass adoption, you CAN NOT buidl things just “for crypto users”.