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Why Most NFT Projects Are Failing?

Why Most of Nft Projects are Fails?

As you know, the concepts of NFT and METAVERSE are newer concepts. Especially recently, the emergence of many NFT projects brings failure. The NFT market is attracting investors and artists looking to make quick cash grab from NFTs. A year ago, most NFT projects were being sold out, while this year most projects are being sold below mint price. In fact, this result is based on the poor quality of the excessive number of the projects on the market.

What are the factors that makes NFT projects successful?

  1. A Strong and Hardworking Team

One of the most important factors for the success of a NFT project based on the actual work of the team. The work carried out by the team for the project is of great importance. It is extremely important for the community that all technical and other details work flawlessly

2. Long-term Presence of the Project and A Strong Roadmap

It is very important that the project is eligible for HODL. Promising something to the community in the long term, offering something real and useful to the community are among the factors that make a project long-term. These benefits can be anything. It relies on things like community specific informative content, useful WL invites, etc.

3. Art and Design

Although the design and artistic value of the projects is now neglected, it is still a very important factor. We should stop looking at it completely as an investment and focus a bit on the art part of NFT. Bad and meaningless NFT art is just ephemeral. It might be very dangerous for the project owners to ignore the artistic aspect of the NFT. Remember, I’ve even seen project owners who do this from Shutterstock! Please add the artistic value to your checklist too!

4. Smart Allocation of the Marketing Budget

Most projects spend their marketing budget with the wrong influencers. Especially the aggressive increase in the number of promoters day by day brought poor quality accounts. These promoters consist almost entirely of bot accounts. And they are manipulating the project owners/creators by creating fake engagement and followers. Bring your project together with the right people and influencers!

5. A Doxxed Team

Increasing rugpulls have now made it mandatory for project owners to get doxxed. The dox situation, which gives a lot of confidence to the community, will also make the project more grounded.

6. Visibility of the Basic Information

Some projects hide the basic details of the project, such as mint date, mint time etc.; in a way that I don’t understand. Making this information difficult to access will also reduce your sales considerably.

7. Communication with the Community

It is very important to deal with every problem of the community and to provide transparent information from Twitter. I see some project owners don’t even create a ticket section. Remember, every problem of your community is also your problem. You can’t do this just by sharing the trailer and mint date on twitter! You have to communicate with the community

Of course, doing these alone will not make your NFT successful, but we just wanted to write some of them as a team. It is very important that your project promises something real. A smart NFT trader should try to mint the projects that are suitable for a long-term HODL perspective. So NFT creators should work accordingly.

If you have any thoughts you would like to add, we are waiting for you in the comments! Stay with NFT!

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