The lifespan of great IP in the NFT world is much longer than you'd expect.
@cryptopunks has been around for 9 years.
This means as a new creator today you need to have a long-term vision. Otherwise you won't achieve the steadfastness of OG bluechips.
One interesting observation I made is that trait rarity not always dictates price.
Meaning certain traits might be more rare on paper but less valued by collectors. And other traits might be slightly more common but highly sought after because of their aesthetics.
That further means, especially early on, be very careful what you buy/sell. Because the market will reprice traits according to taste, and not solely based on rarity numbers.
On the other hand, if you have a good feeling for what people might value visually, you could be able to make some great buys before the prices increase.
One key aspect I pursue is variety and creative diversity amongst traits and items. I believe this is what makes collections interesting to holders and where you as the creator can showcase your passion for the project.
That's why I go out of my way to avoid conventional traits that have already been (over)done by other collections (for example laser eyes, pirate hat, zombie).
But the real challenge is that you can't get rid of "boring" traits per se. Because the less desirable traits are those which differentiate floor NFTs from more expensive ones. That means you kind of have to make some characters less cool or more plain. Otherwise you might dilute the value at the top.
Then, yet again, you do not want floor NFTs to look bad. Otherwise the collection is not attractive to new buyers or you potentially hurt the quality of the brand.
So I'm working very carefully on making floor NFTs look great, but grails phenomenal... while at the same time balancing a clear visual differentiation between rarities.