The ultimate NFT guide
I have tried as much as possible to deliver clear content that could add value to the crypto world but I face myself with very hard time constraint that forces me to deliver two case studies that I enjoyed doing, where I wanted to create a complete NFT guide.
In the following article, I display the two most recent of my NFT case studies. For both of them, I went directly to the origin of the information: Twitter and Discord. If RarePepe was easier because it wasn’t that much active on Twitter and its discord is relatively quiet, it was the opposite with Pixel Vault where thousand of tweets were relaying a constant flow of interesting information.
The NFT world can sometimes be absolutely ridiculous — and I get it. Jpg’s of Monkeys for 1k+? Stupid.
But, let’s try to put ourselves in the believer’s shoes. Together we will cover some of the standout reasons people use to justify their new industry.
1. IT IS ART.
I’m talking about real artists, not the guys that are assembling/ layering stupid drawings to create 10k+ generative pieces. I am referring to the 3D artists that never had the digital scarcity that blockchain technology offers to sell their pieces. Think about the guy doing this:
Maybe you don’t consider this art, well, try to imagine the long hours of work to master the 3D software? Could be equal to the hours needed to master the painting traditional art right? No matter your perspective, the majority of NFT collections that gain traction, do so due to their visual representation of an artist's graphic design talent.
2. COMMUNITY OFFERS REAL VALUE
The crypto “space” has allowed many to accumulate a vast amount of wealth very quickly. Most of this wealth remains in the cryptocurrencies themselves rather than fiat, so to avoid the tax burden, these individuals look to investments that can be made using their digital currencies. Some pursue recognition: for example owning an NFT which you use as your profile photo on social media accounts. Others pursue a network: Almost all prominent NFT collections have their own discord channels. What flows through these channels that’s worth the heavy price tag? For example, the rapper Eminem has publicly announced his ownership of a BAYC (Bored Ape Yacht Club) NFT. He has access to the discord and more than likely is present on said chat interacting with the other members. This could give all the incentives necessary to motivate others to invest in BAYC NFTs. Many other celebrities have also invested which likely draws the attention of their followers around the world.
3. BUBBLE WILL BURST
It is more than apparent that the majority of the simple “Jpegs with price tags” that comprise much of the NFT marketplace supply, will be worth nothing within a short time. There are thousands of worthless collections that gain traction simply because: “ouh its a nft ololala.” In the current market, it is not particularly difficult to make a quick profit “flipping” these bottom-feeder collections, but as the saturation continues this will quickly become a thing of the past.
This bubble will burst eventually and it will in turn likely solidify the NFT industry. The foundation-less collections made popular purely by media hype without any community or utility, will be gone and all those that remain will be the collections that hold true value to the consumer.
Back to the report
I have learned a lot thanks to this research. My first idea was this ultimate guide, and this was the outline :
Now, looking back it was about 40 to 50 hours just for the content research; writing and formatting (eg. Design) adds a lot more.
I decided to switch and aggregate the best articles I have found: looking at videos for the marketing strategies, buying a medium account to find all the hidden articles (found really interesting stories, notably, how an NFT project failed).
From this, I chose the best pieces and built for the first part (ie What’s an NFT) a small guide (40+ pages). Here is the link to it.
The result?
Now, I have an awesome Medium account on which I will continuously post what I produce.
Here are the NFT case studies I have done :
