A common mistake for any early NFT project (focusing on early ones here) is to put wrong attentions on the millions instead of the thousands. Holders are ambassadors, you want to make sure your holders become die-hearted super fans before anything.
What’s the implication?
- don’t launch any tokens before that.
- don’t launch any mass consumer products before that. Focus on exclusivity
It’s very natural to think as a business you need to make revenue day 1 selling tons of products. But I urge any new NFT founder to think differently and re-think abt the lore of NFTs.
Focus first on the culture and your 1,000 fans.
Gonna focus on looking at the NFT market this coming week, brainstorming ideas and talking to interesting founders and see how I can grow with them. And who knows? I might launch a collection this cycle.
Contrary to what most thought (at least few weeks back before the recent pumps in fp), imo the NFT market has advanced significantly, thanks to multiple leaders in the space. NFTs have now evolved beyond arts, if structured strategically, they can propel building consumer-aligned products, platforms or even empires.
I actually think we will see unicorn consumer companies next few years starting as NFT collections, but not simply using NFT as tools.
The key here: NFTs aren’t just tools.