What will be the NFT trend in 2023? Is one of these digital goods still a crowd favorite? You’ll gain a lot of knowledge from the reading that follows.
What’s happening to everyone? Therefore, we’ll be discussing what’s happening in the nft market, some of the biggest updates by some of the bluest-chip projects, and some future mints in this post.
Without a doubt, you need to read carefully. So, right now, when we are observing what is happening in the markets, it appears a little dull. You know, things are essentially moving in a sideways fashion while also slightly correcting from its recent high of around 1.7.
And then now it’s going down to 1.5 and getting kind of lower where will it go nobody knows but for the most part it’s kind of just trading sideways with deviation of like a few hundred dollars in usd value.
And then when we’re looking at the non-send index the top 500 nft projects there definitely has been a slump when it comes to the nft market for sure as you can see it’s been going kind of down.
Also, for the top 10 blue chips kind of been going down. So, if you notice like some of your favorite NFT projects or maybe even the bags that you hold. They’ve been going down when it comes to uh the price of the floor is expected because people are not as bullish and nfts especially when eat is pumping from like a thousand to 1.5 k.
Reasons to Sell NFT
That’s just how it goes and a lot of times people want to sell their nft. So that, they can convert it to ether then maybe convert to usdc.
You have to understand that everything is in a cycle. The cycle is not always predictable but when you look in hindsight you kind of see like what’s going on there.
Okay so the first project we’re going to be covering is going to be proof grails. So, as you know proof is one of the projects with the highest floor price of like a thousand supply.
One of the missions of proof is really just to like get more art out there. And in the way they’re kind of like incubating or even like promoting these maybe not so known artists.
They’re gonna get 25 artists and they’re gonna have 25 pieces and they are going to sell it in like almost like a gallery collection.
Right so, when i look at proof it’s almost like the modern day, web 3, art gallery in a sense and they’re not even going to tell you the artist until after you buy right.
They want to say like hey you know you should buy the art for the art not necessarily because it’s a popular name behind it.
Now, you have to understand that when you study art history especially like how modern art galleries work a lot of times when these new art galleries come in.
It’s not necessarily about the artist what it’s actually about is who the gallery is.
So, a gallery that’s popular and has clout within the certain field whoever they put out people will buy the artist’s work just because that gallery put their stamp behind it.
How the Traditional Web 2 Art Galleries Work
And that’s how the traditional web 2 art galleries work especially in contemporary art and so I can see them mimicking a similar model but making it more web 3.
Fundamentally, it’s the same concept that people have been doing for a very long time.
In fact, decades actually grill season two if you want to take a look at it you can take a look to see if this is something that interests you.
Grail season one if you want to look at some of the past work that they did.
Kind of like anything these guys will put out, they already have an audience of thousands that will potentially buy it.
And then if those guys and girls will potentially buy it then you know other people buy into it because they’re going to say oh a bunch of proof people diamond hand this, or a bunch of like moon birds are going to diamond hand this.
So, it’s like it’s really just that perception of creating uh value in art and that’s really created by the marketing and positioning of the gallery, which is proof.
Now moving on to another project, we’re gonna be talking about imaginary ones.
Explanation abaout Imaginary Ones
So, if you go on the imaginary ones in twitter, they are announcing a staking program for their holders.
A couple months ago, imaginary ones, was like the hottest mint under the sun for a period of time, and then obviously during a bear-market-things aren’t as hot as before the floor price kind of holding setting at 0.45.
I mean it’s much higher before but you know it’s not too bad not too bad especially for you know 8.9 k collection. You know everyone has their mixed feelings about this.
But I had the chance to meet some of the founders and you know from what i can tell they seem pretty legitimate and actually trying but you know everyone has their own opinions.
When i hear staking especially like tokens and stuff like that i feel like it’s not really the right time during a bear market to do staking and that’s just my personal opinion.
Although i don’t advise them or anything i’m just giving my opinion most tokens kind of get closer and closer to zero during the bear market.
And then it’s kind of like well you know what’s the point of even having a token especially if the supply constantly keeps increasing as you stake it.
But i can see most likely that they want people to not sell during the bear market. So, maybe that’s why they introduced the staking mechanic but you know in the end they have to find ways to make the token valuable.
And i guess if they’re creating this entire ecosystem, it’s possible. But you know for me personally you know stepping outside of imaginary ones and looking at tokens in general
Because it’s kind of like what value does it bring right away, I think doing a token right now might not make the greatest sense for most projects.
It’s probably wiser to build demand for a token before you produce it rather than creating it and staked it so that you can use it in the future, as those tokens might be worthless by the time you stop staking them.
I feel like for most projects in general if you can solve the challenge without making it complicated
That’s really the way to go because in the end you kind of see if there’s demand for something or not.
But if you build all these technical things, it’s kind of like well, we’re building all these things to show that we’re building but do people actually want the thing we’re building.
And i actually feel like it’s more important to understand what people want before building because they’ll save you a lot of time right.
In other news openc recently implemented a new feature that’s being exploited so what does that mean exactly well people can buy nfts on behalf of other people, and so like people are pretending to be gary vee, pretending to be pranksy, and so when you know wallet trackers are tracking these wallets.
It’ll look like everybody bought this pregnancy bought this and a lot of times you know people like copy trade certain influencers because a lot of times when they buy something those projects have the potential to pump and now people have an opportunity to game that system.
So, this actually makes it a lot more complicated for the average retail person because they are probably going to be duped if they don’t know the news of what’s going on with this opencv.
Now, in other news we’re going to be talking about clonex.
This person beb recently just introduced this website called clone.tools, when clonex came out with their 3d files everybody can use it in like blender and like all these different like 3d software.
The challenge most people had is that they were like uh cool we have these files.
They’ll have to sit down for hours and hours and hours just to figure out how to accomplish something extremely basic because I don’t know how to use blender or 3D art.
From one angle, it inspired a lot of people to pursue artistic education.
And perform 3D work, which is fantastic but really difficult to enter—even for me.
I watched this instruction on how to make a pink donut before I started to learn Blender, kind of like before Clonex.
Everyone has probably seen this video, but after watching the lessons, I realized that it would be too much work for me.
So, i never got down to it. Clone tool is basically it’s a tool specifically for clones right so it’s basically helping your clones use them in 3d files.
It’s going to be easy for you to basically rig your clone right so just things that will you know make it cooler and make it easier for you like plug and play templates.
This is pretty much what you’re getting and this is going to be a free tool that you can just download.
So, you know this is actually powerful because let’s say they charge like ten dollars for this, then all the clonex people will be like oh i’d rather pay ten dollars and spend like five hours trying to like do this myself.
And especially for like video editing for example there are like certain packs you can buy certain templates you can buy and this just saves you so much more time.
And i can see that a lot of people who don’t want to do something from scratch there’s definitely a lot of value for this, especially if the demand for wanting to use a clone x increases.
Again, like even if it’s called clone tools maybe they’re using it for clonex but who knows maybe one day they’re going to create a pack for like cyber kong vx, or you know whatever the next popular 3d model is.
As long as they have a base and trust then and they have good work then people will you know come and buy.
So, these kind of templates and things like that that help people save money and time will be very beneficial for the space.
So, I’m glad to see like other people actually putting together services that people kind of need right now because there is demand but obviously because of bear market and not everybody wants to learn blender who has clone x.
There probably is a niche audience for that but it could be something definitely in the future as metaverse narratives become more popular as 3d becomes more popular and it is becoming popular.
I know personally in vietnam like a lot of people who have done 2d art and like graphic design they’re starting to learn 3d because they see some kind of future in it.
And a shout-out to the group that includes Bev 0x BG, Go to Regis, Blender, and Dac Vega.
I’ll be following along. You guys are doing a terrific job.
To be clear, these are not official Clonex plug-ins or templates; rather, they are the work of the community coming together to build something of their own. I find it inspiring to see people building on top of the Clonex ecosystem because I believe that is what the entire nfts platform was intended for.
Okay, the following topic we’ll discuss will be some news on Web3 SG. As you may know, they have an art gallery in Singapore.
They also do other things within the nft space, and one of the large pieces of news is that they are going to be handling the web 3 side for this conference called comics in 2022.
So, comment if you’re American it’s kind of like a ces before singapore so all the tech vendors and like people who make computers and video games and stuff like that.
They all come together to kind of showcase what they’re doing, people coming in to get the latest news on their latest updates latest gadgets latest tech.
So, they can get their story out there and so web3sg is basically handling all the vendors.
So, if you want to pay money to be there uh get a special deal 3sg is probably your place because web3sg is like very close with the patrickings project.
They’re getting a free booth over here and so kaiju kings is going to have a little booth where people can come and say hi.
Web 3sg is also coming out with a citadel pass 333 supply free mint launch one week after comic so company that went through sg.
If they are the ones handling the booths right so if a booth is 20k obviously you know they’re not doing it for free.
So, they probably you know have a stream of revenue uh right off the bat for putting events together very web too, but just implementing that web three strategy to it which is why I feel like a free mint for three two three supply kind of does make sense in this situation.
I think in the future you know moving away from web 3sg we’re going to see more web 2 business models just implementing you know web 3 membership.
So, like if you have a way to make money whether it’s like events, media, advertising, you know whatever the case is you can make money right away.
Actually, right or even if it’s agency work and then from there what i think people will do they will create a digital memberships right where they can use it get connected with the community have more value like take it to the next step.
Then, whatever that means, you should be aware that free mint is still intriguing even if they do charge something like, say, 0.3 eve.
It is true that companies often organize events or promotions with the goal of making a profit. However, offering a free mint may not necessarily be the most effective way to achieve this goal.
While it may be a small cost for the company to give away a mint for free, the impact on their overall revenue may not be significant. Additionally, there is a risk that offering a free mint could be perceived as a gimmick or a cheap attempt to attract customers, which could ultimately damage the company’s reputation.
Instead of relying solely on giveaways or promotions, companies should focus on providing high-quality products or services that meet the needs and preferences of their target audience. By building a strong brand reputation and delivering value to their customers, companies can establish long-term loyalty and profitability.
Furthermore, companies should also consider the potential long-term costs of giving away free items. If they become known for offering free products, customers may come to expect this and be less willing to pay for their products or services in the future.
In conclusion, while offering a free mint may make sense in certain situations, companies should carefully consider their overall business strategy and the potential long-term costs before deciding to give away free items.
