Wale is right
We have to hand it to the NFT believers and these great teams.
Many other niches in crypto fizzled out, and most don’t care about them anymore.
Many prominent people still have NFT PFPs.
It’s the most enjoyable niche while being the most identified and Web2 friendly.
I think people underestimate the cultural dynamics (and differences) between relevant NFT collections and their coins.
People enjoy IP -> one day sign up to CEX to try this crypto thing -> look for coins to buy -> see IP they know -> buy IP coin over less relevant, older coins.
Unit cost is super low (you can get exposure to coins such as $PENGU, $ANIME, $APE etc with as little as $5 USD) and you can buy on mainstream apps, making it easily accessible.
I think in the case of NFTs you are targeting more of the core crypto audience, signaling the fact of being part of a community.
Most casual Web2 fans won't spend $10k+ USD on an NFT (most have no idea how to buy one to begin with, while Opensea, MagicEden etc have good interfaces it’s hard to navigate + understand NFTs if you’re not in crypto).
But we've seen big crypto companies switch their pfps to Pudgy Penguins and Azukis this week, they are not doing that to appeal to their Web2 audience, but to core CT culture.
And isn’t it great to be a part of those movements if you're active in the space?
That’s why I think pfp NFTs will always have their place in crypto.
Mastering both sides simultaneously gonna be the biggest challenge for NFT projects this year.
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