With the state of the NFTs rn, itās not shocking to see NFT projects try to grow from NFTs
Whenever they do this, they pivot to either or all of these:
1ļøā£ Fungible token - e.g. $PENGU, $BIRB
2ļøā£ IP Proliferation - via web2
3ļøā£ āDigital Collectiblesā such as Telegram stickers, Boximus mint on Amazon
Why?
The answer is simple: for growth
As it currently stands, NFT projects canāt just be NFT projects if they want to onboard new users or eyes to the project
The NFT market rn is valued at just $3.8Bn. Thatās too small compared to:
- the broader crypto market: $3.5 trillion
- the broader global intengible assets valuation: $79.4 trillion
- the broader collectibles market: $294 billion
Thus, it makes a lot of sense for NFT incumbents to try to branch out and reach new audience in a new way
The main question that they all need to answer tho is:
How will they do this without alienating the rabid community base they formed via NFTs in the first place? š¤
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