Business of Games: RIP NFT's ☠️

NFTs current state vs the future

Hey Friends, Greetings from Bangalore💗

The challenge faced by the NFTs is VALUE, it’s a major reason for the loads of unsold NFTs available in the open market. The Current state of NFT’s in the open market:

1. 18% of these top collections have a floor price of zero

2. 41% of the top NFTs are modestly priced between $5 and $100

3. less than 1% of these NFTs boast a price tag of over $6,000

Some pointers to consider for future NFT drops:

1. Create high-quality with unique content

2. Visually it should be exceptional artistry

3. Utility or interactivity, access to expectational or unique contents

4. Establish a Strong Brand or Reputation with your community and on your social

The Future of NFT:
The survivors of this bear market will see the light in web3. The challenges faced by NFTs are not insurmountable, but they do call for adaptability, creativity, and a strong commitment to producing and collecting assets of value. The NFT market is still young, and it's bound to undergo transformations as it matures.

As we bid adieu to some NFTs that couldn't weather the storm, let's remember that the value of NFTs ultimately lies in their ability to offer unique, meaningful experiences and ownership in the digital realm. In Web3, NFTs may find their true purpose, and the future holds the promise of exciting developments for this ground-breaking asset class.

With curiosity and hope,
CARtic P, iCartic.com