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The bull market is coming back, and there should be better strategies for handling NFTs!
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Art Blocks: Art Blocks was the third-largest NFT project by market capitalization in the past year. Art Blocks is a collection of artworks based on the Ethereum blockchain, founded in November 2020.
There's a sense of an early bull market in the cryptocurrency space recently, with a significant surge in both NFT trading volume and average transaction amounts. The increase in liquidity in the NFT market is great news.
source :
@DappRadar
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Continued Community Building - Major projects are focusing on building lasting IP. Since digital collectibles aren’t something you interact with every day, they often lack emotional connection.
Project launched in November 2022, built on Arbitrum to significantly reduce transaction Gas Fees. Users can utilize ETH as collateral to engage in perpetual contract trading with up to 10x leverage on blue-chip NFTs like Bored Ape Yacht Club (BAYC) and CryptoPunks.
Instead of creating art using illustration software, artists write a piece of code and send it to an algorithm to generate a digital artwork. Interested investors can mint NFTs when artists create Art Blocks NFT projects.
#artblock
#NFT
We look forward to the continued evolution of the digital art market towards the luxury and collectibles sector. Moreover, NFT communities that have gained prominence in the past should persist in creating value.
At the end of August this year, they collaborated with the well-known leisure brand Crocs to release a limited-edition joint shoe. Priced at $120, these shoes sold out within just 72 hours.
Doodles: They aim to bridge Web2 and Web3 through community activities such as installations, concert merchandise, and more. They are developing their own IP globally to become a comprehensive Web3 entertainment company, granting holders limited IP rights.
Regarding NFTs, there have been rumors since 2022 that Amazon was planning to launch an NFT marketplace. However, due to the sluggish market conditions and local regulations, it has yet to be launched.
Pudgy Penguins - Pudgy Penguins is an excellent example. Their goal is to drive their brand’s future by focusing on their IP while providing more significant rewards for community engagement.
This system operates on the vAMM model, eliminating the need for traditional order book liquidity providers. Due to its vAMM model, high volatility in the NFT market can result in exceptionally high unrealized profits.
In July, for instance, it led to over 400 ETH in unrealized profits. As a response, the team decided to close V1 and started working on upgrading to V2 to address these issues.
3/3 Web 2.0 Brands
Crypto market has been sluggish recently, it presents a strategic opportunity for many companies to enter this space. Additionally, having well-known enterprises endorse Web3.0 strengthens investor trust, making them frontrunners when the bull market returns.
Buyers not only received the shoes but also a unique Crocs Box digital collectible. If buyers decide to burn it, they can unlock two wearable Crocs NFTs that match Doodles’ NFT characters, along with a Stoodio Beta Pass card for use in the dynamic Doodles 2 NFT series.
Despite this, as of July this year, the project remains in its testing phase. nftperp has attracted over 2,500 traders and facilitated more than 130,000 trades, totaling over 280,000 ETH in trading volume within less than a year.
Amazon Web Services (AWS) has recently introduced a series of free online courses related to Web3.0. These courses cover various topics, including international investments, startups, DeFi/GameFi, NFTs, VR/AR content creation, and more.
Instead of viewing themselves solely as projects, they may focus on developing comprehensive IPs to enhance the overall business model. The involvement of Web 2.0 industry giants is a significant advantage for the NFT market.
1/3 Digital Art
NFTGo co-founder Tony Ling : Digitization allows for richer forms of artistic expression, and the emergence of NFT and related eco-products solves the problem of digital art ownership and better helps art creators to make a profit.
From a marketing and consumer behavior perspective, brands aim to create as many high-frequency touchpoints as possible. They want to figure out how to reach you effectively, leave a lasting memory, and forge an emotional bond.
To achieve this, various marketing strategies are employed to develop strong brand IP for projects. This opens up more opportunities to commercialize the brand and enhance its practical value for holders.
In August of this year, Amazon took its first step into this space by partnering with the Polygon-based GameFi project, Mojo Melee. This partnership signifies Amazon’s initial foray into the GameFi sector.
Their substantial influence and real-world application value have the potential to attract a broader spectrum of collectors and investors.
#digitalart
#nft
It’s not just a nominal collaboration; it is expected to last for six months, and all Amazon Prime subscribers can claim a free NFT and 850 in-game tokens through the Prime Gaming platform.
#NFT
Perhaps by playing a supporting role and closely monitoring market trends, Amazon is making a smart decision in terms of how it plans to integrate into the industry’s ecosystem in the future.
2/3 Community Building IP
Digital collectibles aren't something you interact with every day, they often lack emotional connection. strong brand IP opens up more opportunities to commercialize the brand and enhance its practical value for holders.
AWS has a certain level of technical expertise in the GameFi sector, with offerings like live streaming technology, the gaming live streaming community platform Twitch, and Amazon Managed Blockchain for deploying and minting NFTs.
Hosting real-world events worldwide helps Doodles expand its influence and brand recognition.
Additionally, Doodles has ventured into physical merchandise.
1/3 Digital Art
NFTGo co-founder Tony Ling : Digitization allows for richer forms of artistic expression, and the emergence of NFT and related eco-products solves the problem of digital art ownership and better helps art creators to make a profit.