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(1) What makes an NFT project valuable?
A thread from a
A thread from a
(2) Not financial advice, these are some things I look at when I personally invest in any project.
The main thing is 𝐂𝐎𝐌𝐌𝐔𝐍𝐈𝐓𝐘
The main thing is 𝐂𝐎𝐌𝐌𝐔𝐍𝐈𝐓𝐘
(3) This is apart from basic metrics such as the art, scarcity, volume & historic value.
A good community is far more important than these metrics for a long-lasting project, and, you can see these with examples of projects like Crypto Cats & Baby Punks.
A good community is far more important than these metrics for a long-lasting project, and, you can see these with examples of projects like Crypto Cats & Baby Punks.
(4) It's important to note that ~ "It's worth what people are willing to pay for it."
It doesn't matter if you won't purchase it for that price if someone else is (not including wash trades & fake volume) as that's what creates value.
Value is a psychological thought process.
It doesn't matter if you won't purchase it for that price if someone else is (not including wash trades & fake volume) as that's what creates value.
Value is a psychological thought process.
(5) A recent example is @cryptobabypunks.
I wouldn't personally buy it before but I may now, because of the community aspect.
It's different from these other alt projects for that reason alone and that separates it from the other basic metrics to calculate value (monetary)
I wouldn't personally buy it before but I may now, because of the community aspect.
It's different from these other alt projects for that reason alone and that separates it from the other basic metrics to calculate value (monetary)
(6) Why is someone willing to pay for this?
Some may just want to be in the community, I doubt a lot of people expected to make a profit on the investment for a Baby Punk.
The most important thing that gives me the push to buy and recommend CryptoPunks is the community.
Some may just want to be in the community, I doubt a lot of people expected to make a profit on the investment for a Baby Punk.
The most important thing that gives me the push to buy and recommend CryptoPunks is the community.
(7) Regardless of historical significance & being the first.
#CryptoPunks have built a community over the past 3 years and you can clearly see that now. There is no importance to have a CryptoPunk as a profile picture if there is no community to back it. No social presence.
#CryptoPunks have built a community over the past 3 years and you can clearly see that now. There is no importance to have a CryptoPunk as a profile picture if there is no community to back it. No social presence.
(8) So, focus on building a community around your project, and my advice would be to not value the [monetary] aspect too much so you don't stir from that mindset.
My personal thoughts, leave a retweet on the original tweet if you liked the thread
My personal thoughts, leave a retweet on the original tweet if you liked the thread
