Notable artists u say
Beaks is at 55$ btw
Zenji is struggling for a 300 supply
lol 😆
It’s not about minting a project with a $1 mint price and a 10,000 supply, it’s more about whether we really need another degen project. In my opinion, NO.
What we need is new tech and new innovation in the space instead of hundreds of degen mints.
If I actually want to bet on projects, I’d rather do it on existing blue chips and mid-cap projects that continue to show up and deliver on a daily basis.
What we really need are notable artists from Web2 joining Web3 as that will help onboard new people into the space. We also need OG projects to develop consistent revenue-generating streams that will help them push both their collections and the space forward.
We are one catalyst away from another major run and onboarding the masses into the space.
Why do I keep talking about OG projects? Because they’re the ones that understand the space best and they have the treasury needed to build sustainable, revenue-generating businesses.
I mean, what do you expect new projects to do when they’re only raising $8,000–$10,000? That amount of money is practically nothing. Some might argue that they can generate more revenue through royalties, but how much can they really make?
Let’s say royalties are enforced at 5%. On $100K in volume, they would earn $5,000. On $1M in volume, they would generate $50,000 in royalties. Do you think that’s enough for an NFT project to build a sustainable business? I don’t think so.
This is one of the main reasons I recommend people buy blue-chip NFTs or art collections. They are the ones with the highest potential to give this space a real breakthrough.
It’s not about whether the mint price is $1 or $10. The real question is: is it actually needed?
A few might argue that we need another Goblintown-type runner that goes to 10E. We already had that, but did it kickstart the NFT bull run? No.
It was fun while it lasted.
Focus on majors instead of new projects. Period.