The 3 most important factors for an nft project to be successful & sustainable.

nft project founders & devs need to learn and be aware of probably three of the most important factors when building a long term & sustainable nft project. The 3 things are culture, money & loyalty When it comes to nft’s the community is incredibly fickle. They’ll leave you in an instant for a new shiny nft project.

Don’t think for one second that folks will be loyal to you, your plans, vision, ideas or that you’re a nice fella. Don’t think that the fact that you’re sharing and being nice and communicating effectively will make any difference. It wont. So. How do you create a sense of loyalty? That brings me onto my next point. You need to understand that most nft enthusiasts or nft collectors are in it for the money. They’re not in it for the artwork. As horrible as that sounds, they’re not.

They want to make money. So, a major way to increase their loyalty to you and your nft project is to help them make money on a consistent basis. If folks are making money, its amazing how so few will leave you for another shiny toy. So, give them what they want, not what you want. You need to think like a customer, not like a business. How can you help them to make money sooner rather than later? There’s plenty of things you can action that can create a sense of earning rewards & money today.

Next, is the final thing. The culture. The mindset of most nft folks is short term gains. They don’t think in terms of years, months or even weeks. They typically think in terms of mins, hours & days. That’s an issue. Its an issue because your development plans may well take months. That’s perfectly normal. But your nft community will be getting very anxious after a few days. They’ll be screaming for news, updates, info, when are things happening.

Their mindset is totally unaligned with your roadmap. That folks will end in disaster. You need to firstly manage their expectations and then think about how you can make baby steps, small steps, small updates, break a big thing into very very small pieces and launch them on a very frequent regular basis. This will show them small progress, will appeal to their short term mindset and will stop them from all leaving due to little happening.

As I keep telling clients. The nft crowd are different. You need to really think about things before you launch. I know its tough, i know you might not like it, but its not about you. Its about what else can they be investing their money in that can make them more money.

So.. get these 3 things right.. Culture, money and loyalty. and you’ve certainly got a chance of a long term and sustainable nft project Of course there are other factors as well. But I’ll save them for another post. Cheers