One of the most demoralizing experiences as a collector is to be super-excited about something but no one else shares your interest. It’s even worse to watch a popular collectible slowly fade out of favor of the public, watching your investment dwindle to nothing… Anyone remember the fall of Beanie Babies?
This experience is far too familiar to any seasoned NFT collector. Projects build the hype, initiate their drop, sustain the momentum for a week or two, and then the momentum fades.
There are a variety of reasons that NFT projects lose momentum and fizzle out. In the video below, we discuss some of these reasons, as well as offer up our perspective on how creators should think about sustaining momentum.
At this point in the NFT market, there aren’t nearly enough collectors to go around for the number of projects out there. Those projects that don’t have a crypto-native buyer may find it hard to keep the resales alive. Not to mention, in such a crowded marketplace, coming up with exciting new updates for your project is difficult.
Every project wants to reach this coveted status and go on to exist for years or decades to come. Ultimately, the path to Blue Chip NFT status is challenging.
Tune into our episode on Blue Chip NFTs to hear our thoughts on how to attain this coveted status in the NFT market.
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